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  • Andhra Bank Home Loan

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  • Avail home loans from Andhra Bank at attractive interest rates starting at 8.85% p.a. with extended loan repayment periods up to 30 years. The bank also offers interest rate concession of 0.05% for women borrowers. The processing fee associated with the Andhra Bank housing loans stands at 0.50% of the loan amount (Max. Rs.10,000) plus applicable taxes. 

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    We found 1 Andhra Bank Home Loan
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    8.75% - 8.85% Floating
    0.5%(max. ₹10,000) + applicable tax
    -
    30 Years
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know

    Andhra Bank Home Loan Details

    With a repayment period of up to 30 years, Andhra Bank offers loans for purchase of homes, plots or apartments. The interest rates offered by the bank are floating in nature.

    Updated as per Latest Rates on 15 Oct 2019
    MCLR 8.75%
    Loan Amount Based on Income
    Processing Fees 0.50%
    Prepayment/Foreclosure Charges None
    Rate Packages Available Floating

    To know more about other charges related to your home loan, visit the Home Loan Processing Fee and Charges page on our website.

    Andhra Bank Home Loan Interest Rates

    You can get more details about the interest rates offered on home loan schemes from the information given below.

    Home Loan Scheme Slab/Type Interest Rate for Others Interest Rate for Women
    Rs.30 lakh to Rs.75 lakh 8.85% p.a 8.80% p.a
    Above Rs.75 lakh 8.95% p.a 8.90% p.a
    Renovation/repairs 9.95% p.a 9.95% p.a

    Andhra Bank Home Loan Schemes

    Andhra Bank offers home financing solutions to both resident and Non-Resident Indians (NRIs). Competitive rates, flexible tenures, and a high margin of financing are some of the major highlights of the financing schemes. Both salaried and self-employed individuals can apply for the loan. You can either apply individually or add a co-applicant to avail the loan.

    Andhra Bank Housing Loans for General

    Key Highlights
    • Financing of up to 90% of the total property cost
    • Maximum loan tenure of 30 years
    • Home repair and renovation loan available
    • Competitive interest rates
    Interest Rate Starts from 1-Year MCLR + 0.05% p.a.
    Processing Fee 0.5% of the loan amount

    Andhra Bank Housing Loan for NRI

    Key Highlights
    • Joint application facility available
    • Maximum loan tenure of 30 years
    • Maximum financing of 90% of the total property cost
    • Gestation period of 30 months
    • Competitive rates for women
    Interest Rate Starts from 1-Year MCLR + 0.05% p.a.
    Processing Fee 0.5% of the loan amount

    Andhra Bank Housing Loan Calculator

    Calculating your monthly instalments will help you manage your finances in a better manner. You can do so by using the BankBazaar Andhra Bank Home Loan EMI Calculator. This easy-to-use online tool lets you calculate your EMI (equated monthly instalment) in a quick and hassle-free way.

    The computation process is quite simple. Just put your loan details, including the loan amount, interest rate, loan tenure, and processing fee. Hit the “calculate” button to see the EMI amount. This is followed by an amortisation table giving a complete breakdown of your payment schedule.

    Andhra Bank Home Loan Eligibility Criteria

    Particulars General Self-employed
    Age 21 years to 65 years -
    Type of Employment - 1-year service abroad

    Documents Required for All Home Loan Applicants Under Andhra Bank Housing Loans

    General documents

    • Identity proof
    • Address proof
    • Income proof
    • Power of Attorney issuance (for NRIs)

    In case of property purchase

    • Agreement for sale
    • Tax receipts and payment receipts
    • Copy of the approved plan
    • Approved engineer’s certificate regarding the present condition and value of the property

    In case of property construction

    • Copy of the approved plan
    • Title deeds of the site
    • Property construction estimate details
    • NIL encumbrance certificate
    • Allotment letter

    Features and Benefits of Andhra Bank Home Loan:

    Boasting of an impressive set of features and some truly customer friendly benefits, the home loan offering from Andhra Bank is committed to bringing the very best of housing loans to its customers. This product walks the fine line between a potential customer’s express requirements and specific limitations. Summing up, the features and benefits are listed below-

    1. Loan is intended for the construction/ purchase of house or flat. Loans are also provided for purchase of plots wherein a residential house will be built at a later date. Also, for repairs and renovation of existing property.
    2. Maximum loan offered is 90% of the actual cost of construction or outright purchase value of the property. For NRI applicants, the maximum loan amount offered is Rs.2,50,000.
    3. Repayment tenure extends upto a maximum of 30 years.
    4. Applicable margin on the loan amount is as follows- 10% (loan amount upto Rs.20 lakhs), 20% (loan amount above Rs.20 lakhs to Rs.75 lakhs), 25% (loan amounts above Rs.75 lakhs).
    5. Loans taken for repairs and/or renovation follow these guidelines- Maximum loan amount will be Rs.10 lakhs if the property is upto 5 years old. For property above 5 years and upto 25 years, a maximum loan amount of Rs.15 lakhs will be sanctioned.
    1. If not BankBazaar.com, where else can I avail the Andhra Bank Home Loan from?

      BankBazaar offers the simplest option to apply for this loan from the comfort of your home or office. If not, you can walk into any Andhra Bank branch across the country and enquire for the same.

    2. Who can I sign-on as my co-applicant(s)?

      Herein, members of your immediate family can be considered as potential co-applicant(s). Usually, the applicant’s spouse and/or major children form the ideal partners when applying for a home loan from Andhra Bank.

    3. What are the interest rates like?

      Andhra Bank charges a floating interest rate on its home loan product. This rate is directly linked to the bank’s base lending rate (Base Rate) and is charged per the daily reducing balance model.

    4. What type of tax benefits apply with the housing loan from Andhra Bank?

      Resident Indians are eligible for suitable tax benefits in line with the Government stipulations that control such matters. Andhra Bank issues an annual tax claim certificate to help the home loan owner in this regard.

    5. What are the additional charges applicable on my home loan?

      A nominal processing fee is charged upfront and equally miniscule administrative charges are charged at the end of each quarter. These are the only additional charges and they don’t collectively amount to much.

      

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    Andhra Bank Home Loan Reviews

    • andhra Bank Home Loan
      "Good"
      0.5 3.0/5 "Satisfactory"
      I have taken a home loan with Andhra Bank more than 3 years ago. The loan amount was sufficient which was given from bank for the tenure of 20 years. The process was smooth and on time loan got sanctioned. The rate of interest of 8.3% and the processing fee are nominal.
      Was this review helpful? 2
      , bangalore
      Reviewed on Jul 08, 2019
    • andhra Bank
      andhra Bank Home Loan
      "Slow process"
      0.5 4.0/5 "Great!"
      I am running a home loan with Andhra Bank and it was taken 2017. The total value is 20L and the need to pay the premium for 18 years. The interest rate is good and there was no processing fee but they have charged that amount for registration fee where private bank does not charge registration fees.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Jun 24, 2019
    • andhra Bank Home Loan
      "Good loan service"
      0.5 2.0/5 "Expected more"
      Since the bank manager is friend of mine hence i have chosen the home loan from Andhra bank. The process is very hectic and its taking lot of time. They have sanctioned the loan in 6 months. The rate of interest is very high. I have taken the loan amount of Rs. 50 lakhs. I have purchased the loan 2 years back.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 18, 2019
    • andhra Bank Home Loan
      "Super Excellent "
      0.5 5.0/5 "Blown Away!"
      I have selected andhra bank home loan. I am holding saving account past 16 years ago. One of my friend recommend. The customer service is good .The sanctioned loan amount is 15 lakhs. The rate of interest is of 8.35%,. The tenure is for 20 years and the Emi is Rs 15000. The documents were submitted directly to the banker end. The customer service is good and response
      Was this review helpful? 2
      , new delhi
      Reviewed on Jun 07, 2019
    • andhra Bank Home Loan
      "Recommendable Bank"
      0.5 5.0/5 "Blown Away!"
      I am working with Andhra Bank, they gave me attractive interest for the housing loan since I am a staff. I took the loan amount of Rs. 11 lakhs for the duration of 20 years. The response is genuine to the customer. They have balance transfer, part payment and pre closure option.
      Was this review helpful? 1
      , visakhapatnam
      Reviewed on May 15, 2019
    • andhra Bank Home Loan
      "very good"
      0.5 4.0/5 "Great!"
      Recently I took one home loan last three month I take this loan and I am satisfied with this finance service , and their customer service is good and response is also good ,my loan amount is 22L and and rate of interest is 11% and my tenure is 20years , and my EMI amount is 23K ,
      Was this review helpful? 1
      , anantapur
      Reviewed on Apr 13, 2019
    • andhra Bank Home Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have home loan with ANDHRA BANK , i have taken this loan in 2006 and i have close in 2016 . I got foreclose option also with this bank . There is no hidden charges with this bank . Customer support and their response is good , i am very old customer of this bank .
      Was this review helpful? 3
      , chennai
      Reviewed on Mar 01, 2019
    • andhra Bank Home Loan
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      The rate of interest is very higher with this ANDHRA BANK where the rate of interest is floating with this bank. I have been using this bank from past 1.5 for the loan, the process of getting the loan is simple with the easy process. the duration i for 20 years to repay the loan.
      Was this review helpful? 2
      , mumbai
      Reviewed on Nov 27, 2018
    • andhra Bank Home Loan
      "Nice experience"
      0.5 4.0/5 "Great!"
      My home loan is with Andhra Bank. The process to get the loan is good. The documentation process is smooth. The rate of interest is of 10% and it is a fixed rate. There was a processing fee too. The tenure is for 20 years. The overall experience is nice.
      Was this review helpful? 4
      , hyderabad
      Reviewed on Aug 03, 2018
    • andhra Bank Home Loan
      "Easy to get a loan"
      0.5 4.5/5 "Excellent!"
      I have taken this home loan in the year of July 2016. It is easy to get a loan from Andhra bank and i have received it on time. They are offering the interest rate of 8.75 for my home loan. I don't remember about the processing fee. I have opted the tenure period of 20 years. I have to pay the EMI amount of Rs. 33000 every month. There are no hidden charges while I'm taking my home loan.
      Was this review helpful? 6
      , hyderabad
      Reviewed on Jul 19, 2018
    • andhra Bank Home Loan
      "Very good"
      0.5 4.0/5 "Great!"
      My home loan was taken with ANDRA BANK 2 years back. The loan amount as 35 lakhs and the given interest rate was satisfactory . The tenure period was 20 years , The documentation process was very smooth . The loan process was satisfactory and they have sanctioned the loan with the committed time.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Jul 04, 2018
    • andhra Bank Home Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      My home loan experience with Andhra bank was very good, the loan amount was for Rs 20 lakhs with the rate of interest of 8.5% which is nominal when compared to other banks. The process was smooth and i received my loan amount on time. Customer service was good and they followed up on time. The tenure of this loan is 20 years and it was a overall a good service from Andhra bank.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Feb 08, 2018
    • andhra Bank Home Loan
      "Best service"
      0.5 5.0/5 "Blown Away!"
      I have taken a home loan with Andhra Bank and it was an amazing loan experience. The loan amount was for Rs 30 lakhs with the rate of interest of 8% which is the best rate in the market. The process was very smooth and i received my loan amount within a day. Customer service was fine, they collected documents on time and followed up correctly. The tenure of this loan is 30 years.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jan 04, 2018
    • andhra Bank Home Loan
      "It is good overall"
      0.5 5.0/5 "Blown Away!"
      Andhra Bank is overall good on the home loan process. The customer services are good and there was no inconvenience in the paper work and in the disbursement as well. They were responsive. I also got a good deal on the interest rate and charges.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 18, 2017
    • andhra Bank Home Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      The customer support is average with Andhra bank . I got the home loan with Andhra bank around 6 years ago. They have approved and disbursed my loan amount within 1day of time. The required loan amount has not approved but few the request they have accepted to give the required loan amount.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Nov 08, 2017
    • andhra Bank Home Loan
      "Recommandable home loan"
      0.5 4.0/5 "Great!"
      I took Home loan at 2012 from Andhra bank, they gave 9.5% of interest it was nominal interest at the time.I took home loan of Rs.10 lakhs, to purchase the residential house. Still my loan is running without any hassle. Its a good bank recommend to all for home loan.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 28, 2017
    • andhra Bank Home Loan
      "Its Recommendable Bank"
      0.5 5.0/5 "Blown Away!"
      Andhra bank is a reputed bank, I am banking with them for past 15 years, I have taken two home loans from Andhra Bank, one loan got closed and another loan is running, They responded very well on application, I have taken home loan amount of Rs. 3 Lakhs with the floating interest rate 10.25% with tenure of 15 years.
      Was this review helpful? 0
      , tirupati
      Reviewed on Mar 09, 2017
    • andhra Bank Home Loan
      "Make customer's to learn about loan from Andhra Bank"
      0.5 5.0/5 "Blown Away!"
      I really appreciate the Andhra Bank service was excellent, My loan was in Sundaram Finance, But Andhra Bank Manger came to place helped to compare the various interest. He himself help transfer them housing loan from Sundaram Finance to Andhra bank. Without any charges and Loan got transfered with the tenure of 10 years.
      Was this review helpful? 0
      , salem
      Reviewed on Dec 30, 2016
    • andhra Bank Home Loan
      "Can be better"
      0.5 4.0/5 "Great!"
      Let me start by saying that the builder has got a tie up with Andra bank housing loan. It was all well organized. The property inspection, valuation everything was done on time. On the other hand there are two major short fall. The first one would be, they follow a manually process. The second one would be the site which is outdated and old fashioned. It would be great if they work on the above two drawbacks.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 24, 2016
    • andhra Bank Home Loan
      "Old fashioned"
      0.5 4.0/5 "Great!"
      Andhra bank follows a conventional way of banking. They are not up when it comes to technology, technology wise they have to improve a lot. The charges are quite similar to other banks. Also they dont provide upcoming offers, they just stick to their old offers, where as other banks come up with attractive schemes at regular intervals for instance SBI, as SBI does that.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 26, 2016
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