Andhra Bank was originally founded in 1923 by a freedom fighter as well as a politician in Andhra Pradesh. This bank has currently over 2880+ branches in India with 3780+ ATMs. It is now merged with Union Bank of India.
In this post, I’ll cover the details on how to avail a personal loan from Andhra bank, its eligibility, features, contact details and many more.
Table of Contents
Loan Details
Sl. No.
Category
Data
1
Loan amount
Up to 5 Lakhs
2
Tenure
Up to 60 months (5 years)
3
Interest rates
8.9-13%
4
Age
Between 21-55
5
Lowest EMIs
Rs 2,202 per Lakhs
Steps to apply for Andhra bank personal loan
Step-1: Fill up the loan application form by entering true details
Step-2: Upload the necessary documents asked in the form
Step-3: The bank authority will verify all of them and will notify you further after a decision regarding loan approval has been made
Features of Andhra bank personal loan
Less paperwork
No foreclosure or pre-payment charge
Loan tenure period is flexible (5 years)
Attractive loan amount of 5 Lakhs
Procedure is completed within 3 days or 72 hours
Types of Andhra bank personal loan
There are different types of personal loan at Andhra bank and they’re:
Andhra Clean loan
To meet the credit needs for personal expense
Offered to salaried, pensioners, and non-salaried people
Loan amount varies as per applicant’s profile
Andhra Consumer loan
To meet the purchase cost of home appliances or durables
Offered to salaried, pensioners, and non-salaried people
5 Lakhs of loan is offered and is fixed
Andhra loan against KYC/LIC policy
To meet any personal credit needs
Given to them who have appropriate security adjustments
Loan amount up to Rs 50,000 without a third-party guarantor is given
Eligibility criteria for Andhra bank personal loan
Applicant’s should be of between 21 to 55 years of age
Applicant must have a regular source of income
Applicant must have a repayment capacity
Documents required for Andhra personal loan
The necessary documents required for applying at Andhra are as follows:
For Salaried
Identity proof (Driving license/Aadhar card)
Residential proof (Ration card/Passport)
Income proof
Income slips
Credit information
Bank statements
ITRs
For Self-employed
Identity proof (Driving license/Aadhar card)
Residential proof (Ration card/Passport)
Credit information
Property statements
Business continuation proof
ITRs
Union Bank of India Personal loan for Government Employees
Union bank launched this scheme to help government employees to meet their personal expenses.
Eligibility Criteria and Policies
Candidate Should be permanant employee working for central or state governement.
Candidate should have maintain salary account with Union Bank for atleast 3 months.
Entire loan amount should be repaid one year before retirement.
Maximum repayment tenure is 5 years
Processing fees 0.50% with minimum of Rs.500, plus service tax.
Up to 10 Lakh personal loan will provided.
Comparison of Andhra bank personal loan with others
Sl. No.
Bank Name
Loan amount
Interest rates
Processing charge (without GST)
1
ICICI
Up to 20 Lakhs
11.5-19.25%
2.25%
2
Bajaj Finserv
Up to 25 Lakhs
12.99%
3.99%
3
Axis
Up to 15 Lakhs
10.25%
2%
4
Deutsche
Up to 15 Lakhs
9.99-11.49%
2%
5
Canara
Up to 3 Lakhs
11.25-13.9%
0.5%
Check Status
You can easily track your loan status at Andhra by clicking the following button:
