Whoever said wishes don’t come true hasn’t explored our offers!
  • Andhra Bank Two Wheeler Loan

     3.5 / 5.0   by 2 users
    Used this product? Write a review >>

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Overview:

    Founded by respected freedom fighter Dr. Bhogaraju Pattabhi Sitaramayya, Andhra Bank was registered in the year 1923. On 28th November 1923, the bank commenced business with an authorised capital of Rs. 10 lakhs and paid capital of Rs 1 lakh. Currently, the bank boasts of a wide network of of 2536 branches, as on 31st January 2015. The bank provides various financial products including services in the Retail, Corporate, Agriculture and MSME areas, as well. Among the various other products and services provided, Andhra Bank offers two wheeler loan to its customers. Especially endowed with innovative features to enhance the convenience of customers, Andhra Bank two wheeler loan is easily affordable.

    Bike Loan from Andhra Bank:

    Andhra Bank offers two wheeler loan to individuals at practical and affordable interest rates. The availing of this loan involves minimum documentation, and is hassle-free. One of the USPs of the bank is also its quick disbursal of loans. Every Indian dreams of owning a two wheeler. For some it the most ideal mode of daily transport, and for some youngsters it is about the thrill of biking across the country. Andhra Bank two wheeler loans provide you with ideal financial assistance to buy a two wheeler of your choice.

    Also Read: Two Wheeler Insurance.

    Features and Benefits of Andhra Bank Bike Loan:

    • The loan is provided to individuals for purchase of two wheelers.
    • The quantum of finance provided is 85% of on road price (includes invoice price, life tax, registration charges, insurance and accessories) for salaried class, SME and corporate borrowers
    • For any borrowers except the aforementioned type, the loan quantum is 80%.
    • The maximum loan amount offered is Rs.5.00 lakhs.
    • The repayment tenure is maximum of 60 EMIs, or in quarterly/half yearly/yearly instalments for a maximum period of 60 months. This depends on the borrower's steady income flow and occupational status.
    • Hypothecation of the two wheeler needs to be done to the bank, as a form of security.
    • The bank accepts co-obligation of the third party.

    Perfect Personal Loan Deals for you

    Andhra Bank 2 Wheeler Loan Eligibility:

    • If the applicant is a salaried individual, his minimum take home pay of 40% (post deduction of the instalment) for the proposed loan amount.
    • The loan can be availed by an individual son/daughter, based on his/her parent's income eligibility.
    • In the above case the parent needs to be listed as a co-applicant for the loan.
    Apply for Personal Loan

    Andhra Bank Two Wheeler Loan Documentation:

    • For of income tax returns
    • Proforma Invoice
    • Copy of applicant's driving license. This needs to be valid
    • Salary slips of the applicant
    • Documents in compliance with KYC

    Andhra Bank Two Wheeler Loan Interest Rate:

    The rate of interest on Andhra Bank's Two Wheeler Loans is -

    For loans up to 36 months: Base rate + 1.75 %

    For loans above 36 months: Base rate + 1.75%+0.25

    FAQs on Andhra Bank Two Wheeler Loan

    1. What is the quantum of loan offered by Andhra Bank two wheeler loans?

      The quantum of finance provided is 85% of on road price, including invoice price, life tax, registration charges, insurance and accessories, for salaried class, SME and corporate borrowers. If the borrower doesn't belong to the mentioned category, then the loan quantum provided is 80%.

    2. What is the form of security expected by Andhra Bank, if I avail a two wheeler loan from the same?

      The bank needs the vehicle (for purchase of which the loan had been taken) to be hypothecated to it.

    3. I am an individual and want to avail a two wheeler loan from Andhra Bank. Can I use my parent's name as a co-applicant?

      Yes, of course. The loan can be availed by an individual son/daughter, based on his/her parent's income eligibility.

    Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar’s partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

    Two Wheeler Loan by Other Banks
    Two Wheeler Loan

    Andhra Bank Two Wheeler Loan Reviews

  • Page 1 of 1
    • andhra Bank Two Wheeler Loan
      "Excellent !!!!!"
      ANDHRA BANK
      0.5 5.0/5 "Blown Away!"
      Within two hours Andhra bank completed the documentation and disbursed the two wheeler loan . Rate of interest and processing fee charged were nominal. I visited the bank directly to get the loan and got the good response till the loan get completed.
      Was this review helpful? 9
      , jajpur
      Reviewed on Feb 15, 2016
    • andhra Bank Two Wheeler Loan
      "Very rigid policies"
      ANDHRA BANK
      0.5 2.0/5 "Expected more"
      Andhra bank two wheeler, was asking for too many proof which was not required at all. First of all, they were asking for surety. Also they were asking for neighbor reference, or 2 or 3 reference of the Government employee which is not required at all. They can might as well ask for employer reference .
      Was this review helpful? 10
      , hyderabad
      Reviewed on Sep 25, 2015
    Common Loader Icon
    Page 1 of 1
  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.