Founded in 1923, Andhra Bank was founded by Dr. Bhogaraju Pattabhi Sitaramayya, the freedom fighter. The Bank began with an authorised capital of Rs 10 lakhs and a paid up capital of just Rs 1 lakh.Home Loans for NRI is only one of the many financial products that the bank offers
|Type of employment||Proof of income|
|Salaried employees||IT Returns/ Form 16 which is issued by the employer/ Assessment orders
Last pay certificate
|Professionals/self employed||last 3 years’ income proof in the form of financial statements that has been signed by a Chartered Accountant ( assessment orders / income tax returns)|
In case of purchase:
In Case Of Construction:
Additional Documents which must be submitted by NRIs:
Amount of Loan:
Mode of Repayment:
Floating rates of interest depends on the base rate. Check the official website to check the base rate.
|Repayment Period||Five Years and Below||Five to ten years||Above 10 Years to 20 Years|
|Above 30 lacs||Base rate+1.75||Base rate+2.00||Base rate+2.25|
|25-30 lacs||Base rate+1.00||Base rate+1.25||Base rate+1.50|
|Up to 25 lac||Base rate+0.75||Base rate+1.00||Base rate+1.25|
Loans taken out for repairs, the interest rate will be 1% above the rate of interest which is applicable to Housing Loans.
No, there are no prepayment charges as long as the amount is from the applicant’s own sources.