{"id":4728,"date":"2018-05-28T22:21:52","date_gmt":"2018-05-28T16:51:52","guid":{"rendered":"https:\/\/www.antworksmoney.com\/blog\/?page_id=4728"},"modified":"2019-09-25T11:40:20","modified_gmt":"2019-09-25T06:10:20","slug":"andhra-bank-personal-loan-interest-rates","status":"publish","type":"post","link":"https:\/\/www.antworksmoney.com\/blog\/andhra-bank-personal-loan-interest-rates\/","title":{"rendered":"Andhra Bank Personal Loan Interest Rates"},"content":{"rendered":"

Andhra Bank offers different rates of interest on\u00a0personal loans\u00a0for different tenures. For personal loans up to 36 months, the bank charges 5.50% plus base rate which is 10.25%. For personal loans taken above 36 months, Andhra Bank charges 5.50% plus base rate and a charge of 0.25%. However, Andhra Bank may change its\u00a0personal loan interest rates\u00a0without giving you any prior notification.<\/p>\n

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Andhra Bank Personal Loan Interest Rates 2018<\/h2>\n\n\n\n\n\n\n\n\n\n\n\n
Particulars<\/strong><\/td>\nSalaried<\/strong><\/td>\nSelf-Employed<\/strong><\/td>\n<\/tr>\n
Interest rate<\/td>\nFor loans up to 36 months: MCLR (1 year) + 4.40 % =\u00a013.85% p.a.<\/strong><\/p>\n

For loans above 36 months: MCLR (1 year) + 5.40 + 0.25 % =\u00a015.1% p.a.<\/strong><\/td>\n

For loans up to 36 months: MCLR (1 year) + 4.40 % =\u00a013.85% p.a.<\/strong>\u00a0For loans above 36 months: MCLR (1 year) + 5.40 + 0.25 % =\u00a015.1% p.a.<\/strong><\/td>\n<\/tr>\n
Loan Amount<\/td>\nFor salaried applicant:<\/strong>\u00a0Each instalment not less than 40% of gross salary.<\/p>\n

For Pensioners:<\/strong>\u00a08 times of monthly pension not amounting to more than Rs.5 lakh.<\/p>\n

For income tax assesses:<\/strong>\u00a02 times the average renewal commission for the previous 3 years, to a maximum of Rs.2 lakh.<\/p>\n

For those who are not income tax assesses:<\/strong>\u00a050% of average renewal commission based on statement of income for the previous 3 years, to a maximum of Rs.2 lakh.<\/td>\n

Twice the average annual income of the last 3 years shown in IT returns.<\/td>\n<\/tr>\n
Loan Tenure<\/td>\nMaximum of 60 months, with a moratorium period of 1 year.<\/td>\nMaximum of 60 months, with a moratorium period of 1 year.<\/td>\n<\/tr>\n
Lowest EMI<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
Processing Fee<\/td>\nYes, nominal<\/td>\nYes, nominal<\/td>\n<\/tr>\n
Age<\/td>\nFor salaried: 55 years For Pensioners: 75 years<\/td>\nFor non-salaried: 55 years<\/td>\n<\/tr>\n
Prepayment Charges<\/td>\nNo charge<\/td>\nNo charge<\/td>\n<\/tr>\n
Foreclosure Charges<\/td>\nNo charge<\/td>\nNo charge<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

How to Calculate Interest\/ EMI on Andhra Bank Personal Loan<\/h2>\n
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You can\u00a0calculate your Andhra Bank Personal Loan interest rate\u00a02015 by using a personal loan EMI calculator. In the calculator, you need to put the total loan amount, tenure of your loan, rate of interest and processing fees (if any). When you put all these information in the calculator, it will instantly reveal your equated monthly instalments and loan amortization table. The loan amortization table will contain information about your EMIs, interest and principal payment made and the outstanding loan amount.<\/p>\n

Factors Affecting Andhra Bank Personal Loan Interest Rates<\/h2>\n

There are a lot things that may affect your\u00a0Andhra Bank Personal Loan Interest Rate<\/b>\u00a02015. They include your CIBIL score, relationship with your bank and the nature of your employment etc. Listed below are the major factors that may affect your personal loan interest rate:<\/p>\n