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  • Andhra Bank Diwali car loan offers

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  • When you think about Diwali, the first thing that comes to your mind is to buy gifts for all your loved ones. Since you care for your family so much, this Diwali why not give them the most special gift of their life- a luxurious four-wheeler! After all, Diwali is the ideal time to take the initiative for making all long-wished dreams come true.

    Andhra Bank is providing low interest car loans with minimal income requirement of Rs.1 lakh p.a. General borrowers can get up to 15%-20% on road price of the car and women borrowers can get up to 90% financing of their car. The bank charges an affordable interest rate for 9.10% p.a. which is quite competitive compared to normal market rates. Easy EMI repayment facility with extended tenure of up to 7 years is another perk of this car loan. You can buy a new car or a used one as per your preference using the loan.

    With the lucrative Andhra Bank car loan offers, this Diwali you can avail higher loan amount even with a minimum income. To know what more exclusive offers and discounts the bank has in store for you, apply for an Andhra Bank car loan on the Bank Bazaar website.


    Key Features of Andhra Bank Car Loan

    Andhra Bank car loan is a saviour for people who don’t fall within the required income bracket for this loan. This bank has made it possible for buyers of every section to get a car loan by lowering the income requirement margin. Some other key features of this borrowing option are as follows:

    • It offers a wide range of car loan schemes for the borrowers to choose from.
    • You can apply for a loan amount starting from Rs.25 lakh to Rs.50 lakh for buying four-wheelers.
    • All category and brands of cars are covered under the car loan scheme of Andhra Bank.
    • A minimum of 1 year and maximum of 7 years repayment tenure is provided to the borrower for new cars. In case of used cars, the repayment tenure is up to 5 years.
    • No loan processing fee is charged by the bank on the approval of the loan.
    • Income certificate of the borrower is sufficient to get the loan.
    • The rate of interest is fixed at 9.10% p.a. by the bank which is quite competitive compared to the market rate.
    • Minimum salary of Rs.1 lakh p.a. is sufficient to get an Andhra Bank car loan. Hence, members from low income group can easily buy a car availing this loan.
    • Individuals who are above 18 years of age and below 65 years are eligible to apply for this loan. The age of the applicant must be below 65 years at the time of loan closure.
    • The bank allows foreclosure of the loan after a certain time-period with a minimal fee.
    • You will get flexible and easy EMI options to repay the loan amount within the specific tenure.
    • The process of loan approval and disbursal is hassle-free and quick.
    • The bank also offers pre-owned car financing but the car should not be more than 3 years old.
    • Corporate customers and private firms can also avail a car loan from Andhra Bank.
    • There are special offers and other facilities for women borrowers.

    Andhra Bank Car Loan Eligibility

    Andhra Bank is providing loans to car buyers with low income who are otherwise not eligible for car loans. The bank provides a number of benefits on the loan due to which it stands out as the most profitable option for different sections of buyers. The minimum monthly income requirement to apply for a loan from this bank is Rs.1 lakh p.a.


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