Multiple banks. Different interest rates. Call it a "conflict of interest".
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  • Andhra Bank Mortgage Loan is Rated as "Great!" by 14 Users

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    Andhra Bank Mortgage Loan

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    Overview

    In a country like India, property is perhaps the greatest asset one can own, with millions striving towards owning their dream home/plot. Having a property in your name can be highly beneficial today, as it can be used to meet emergency situations. A mortgage loan against a property could go a long way in quelling any financial needs and Andhra Bank offers such mortgage loans to its customers. With a banking history of over 9 decades, Andhra Bank is a trusted name in the Indian banking industry and offers a plethora of products and services designed to meet multiple requirements, keeping the needs of customers in mind at each step.

    Purpose of Andhra Bank Mortgage Loan

    Andhra Bank offers mortgage loans towards meeting any financial emergency a customer could have. It should be kept in mind that such financial requirements are genuine and not frivolous. This loan can be used to satisfy any legitimate personal monetary requirement an individual could have.

    Eligibility Criteria for Andhra Bank Mortgage Loan

    Individuals who wish to apply for an Andhra Bank mortgage loan need to satisfy the following conditions.

    • Property owner - A borrower should have a property listed in his/her name, with legal proof and documents of ownership. An individual could also obtain a mortgage loan against property owned by his/her spouse and/or children, subject to the child being a major.
    • Individual - Only individuals are eligible for mortgage loans from Andhra Bank. Associations and groups are not eligible for this loan.
    • Employed - A borrower should be employed with a regular source of income. This income should be received through a branch of Andhra Bank.
    • Pensioned - If a borrower is a pensioner, he/she should have a regular pension which is disbursed through Andhra Bank.
    • Bank account - A borrower should hold an account with Andhra Bank to be eligible for a mortgage loan.
    • Age - An applicant should be at least 21 years old to apply for this loan. The upper limit to avail this loan is 65 years.
    • Salary account - Applicants who do not have a salary account with Andhra Bank need to provide an undertaking from their employer stating that loan instalments will be directly remitted to the bank till the loan is terminated.
    • Co-obligant - A borrower should provide a co-obligant to obtain a loan. This could be any third party which the bank finds feasible.

    Documents Required for Andhra Bank Mortgage Loan

    • Bank account details - A borrower should provide his/her bank account details before availing a loan.
    • Property papers - A borrower should submit proof of ownership of a property against which a mortgage loan is being availed.
    • ID proof - A borrower should provide a valid government approved ID proof.
    • Photographs

    Features and Benefits of Andhra Bank Mortgage Loan

    Some of the features and benefits of Andhra Bank mortgage loan are mentioned below.
    • Multipurpose loan - This loan can be used to meet any personal financial need a borrower could have, ranging from medical emergencies to education, etc.
    • High loan amount - Applicants can get loans up to 50% of the property value, subject to a maximum of Rs 2 crores.
    • Competitive interest rate - Interest rates charged by Andhra Bank are extremely competitive and attractive compared to other banks.
    • Flexible repayment - A borrower can repay the loan through flexible EMIs, with a maximum repayment period of 5 years.

    Andhra Bank Mortgage Loan Interest Rate

    Interest rates charged by Andhra Bank on their mortgage loans vary according to the tenure of a loan.

    • The interest rate for loans with a tenure of 36 months is the base rate + 2.75% per annum.
    • The interest for loans with tenures between 36 months and 60 months is Base rate + 3% per annum.
    • The interest for loans with tenures above 60 months is Base rate + 3.25%.

    Note - Interest rates mentioned here are for the year 2015 and are subject to change at the sole discretion of the bank.

    Andhra Bank Mortgage Loan Reviews

    • andhra Bank Personal Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      The rate of interest is very low with Andhra bank in concern to my personal loan application. The customer support and the response is really good with Andhra bank. I got the loan within a span of 7 days of time. The required loan amount has been disbursed on time , I am very much happy about it. The service provided by Andhra bank is really good.
      Was this review helpful? 0
      , khammam
      Reviewed on Jul 15, 2017
    • andhra Bank Personal Loan
      " Convenient service for Customers"
      0.5 5.0/5 "Blown Away!"
      I was taken my personal loan from Andhra Bank for few years back. Rate of Interest was less compare to other banks. My loan amount was 55000 with 3 years of tenure. It was done very smooth. They gave me this loan based on m y salary account . Overall they were provide good services for customers.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Jan 30, 2017
    • andhra Bank Personal Loan
      "Economical loan range "
      0.5 4.0/5 "Great!"
      I appreciate Andhra bank executives, as they are very keen about processing the customer's loan application.The support offered was good, but I found it was a quite lengthy process.They took around 10days time to complete the process.They follow a economical range of support to be given to the customer when it comes to personal loan.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Jul 23, 2016
    • andhra Bank Personal Loan
      "Lengthy process!"
      0.5 3.0/5 "Satisfactory"
      The personal loan process was very lengthy with Andhra bank. The loan amount was disbursed within one month. They are asking for two guarantors, that too government employees to sign the papers. I would suggest them to get security sign from one person.
      Was this review helpful? 0
      , vijayawada
      Reviewed on Feb 03, 2016
    • andhra Bank Personal Loan
      "Executives need to be more polite!"
      0.5 3.0/5 "Satisfactory"
      I took my personal loan disbursed from Andhra bank. They are very fast in processing the loan in the initial days. Later on the process was bit slow and the loan amount was disbursed after a month. The executives are not friendly with the customers and it would be nice if they behave politely with the customers.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Jan 05, 2016
    • andhra Bank Personal Loan
      "Not good"
      0.5 1.0/5 "Really Bad"
      I would say Andhra Bank personal loan process is not good. They are not treating their customers well . They are not very good in customer services and they are not doing well in all the aspects right from account opening till transaction . They are old fashioned and they are not friendly.
      Was this review helpful? 2
      , bangalore
      Reviewed on Nov 03, 2015
    • andhra Bank Personal Loan
      "Good In Processing"
      0.5 4.0/5 "Great!"
      I have applied for the personal loan with ANDHRA bank very recently. They have offered ,e 14% rate of interest which is very goos. I am loyal customer to them so they have offered me best offers. They have come for the verification so it will take another one week to get the loan amount.
      Was this review helpful? 3
      , secunderabad
      Reviewed on Oct 08, 2015
    • andhra Bank Personal Loan
      "Excellent service.."
      0.5 5.0/5 "Blown Away!"
      I got the Personal loan with ANDHRA Bank and I am maintain a salary account with same bank so the rate of interest offered by them was 9.9% and 2.75% was processing charges compare to other bank its good. After completed 1.5years they will allow to make a part payment.
      Was this review helpful? 6
      , hyderabad
      Reviewed on Sep 04, 2015
    • andhra Bank Personal Loan
      "Average!!!"
      0.5 3.0/5 "Satisfactory"
      I availed personal loan from Andra bank. Since it is a Gov bank there is no proper response. I directly approached the bank manager to process my personal loan. Since I had a salary account in that I was given a lower interest rate of 11.5%. There are no charges. I suggest the bank to improve their customer service.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Jul 11, 2015
    • andhra Bank Personal Loan
      "Good "
      0.5 4.5/5 "Excellent!"
      It was very easy for me to get this loan with Andhra Bank because my colleague work in the bank.The customer service provided was good and the loan amount was disbursed within 3days.I will not recommend Andhra Bank but will recommend SBI bank to others.
      Was this review helpful? 3
      , hyderabad
      Reviewed on Jun 13, 2015
    • andhra Bank Personal Loan
      "Not a customer oriented bank "
      0.5 3.0/5 "Satisfactory"
      I would say it was a average service provided by Andhra Bank while getting a personal loan.The customer service provided is not really good and they donâ??t respond to customer in a right way.The interest rate offered was really comfortable and the loan amount was disbursed after 25days which is long time.
      Was this review helpful? 1
      , tirupati
      Reviewed on Jun 09, 2015
    • andhra Bank Personal Loan
      "Satisfactory service"
      0.5 3.5/5 "Pretty good"
      My salary is credited to Andhra bank account. On salary basis I have taken a personal loan from them. Normally I prefer nationalized banks. First of all they have taken lot of time for processing because banking systems are very slow at that. Now a days the process is much faster. I have submitted all the documents to the nearest branch and my loan was disbursed within 10 days. My overall experience was very good.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Aug 07, 2014
    • andhra Bank Personal Loan
      "Excellent experience"
      0.5 4.0/5 "Great!"
      Last month I have availed a personal loan from Andhra bank through my father's savings account. It was a good experience and I am overall satisfied with the services of the bank. Processing was quite delayed upto 20 days and the documentation was fine. Rate of interest & processing fees are good comparatively to other private banks.
      Was this review helpful? 4
      , bangalore
      Reviewed on Jul 15, 2014
    • andhra Bank Personal Loan
      "Very quick processing"
      0.5 4.0/5 "Great!"
      Had a wonderful experience on applying a personal loan with Andra Bank. I received my loan amount last month and I am quite happy with the rate interest, fees & charges. The documentation was very less and the process was completed on a single day. I would strongly recommend the bank.
      Was this review helpful? 14
      , bhubaneshwar
      Reviewed on May 17, 2014
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