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

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    Andhra Bank Mudra Loan

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    Overview about Andhra Bank Mudra Loan

    Hon’ble Prime Minister launched Pradhan Mantri Mudra Yojana on 8th April, 2015 in order to bring such enterprises to the formal financial system and to make sure that affordable credit is available to them. Loans under PMMY is sanctioned by all the branches of Andhra Bank.

    Perfect Personal Loan Deals for you

    Why choose Andhra Bank Mudra Loan?

    • Affordable Interest rates

      Competitive interest rates is one of the most attractive features of Andhra Bank Mudra Loan.

    • Simple, transparent processing:

      As a borrower, one need not worry about putting up a collateral at all. Further, the friendly customer care service providers make sure that customers are taken care of throughout the process by handholding them through all the steps.

    Features of Andhra Bank Mudra loans

    • Following are the key features of Andhra Bank Mudra loan:
    • The loan does not require collateral security or guarantee.
    • Up to Rs. 10 lacs can be availed with this loan
    • This loan is available to Non-Farm Sector on or after 4th April 2015.
    • The loan can be availed for trading, service and manufacturing activities.
    • Loan under Mudra are divided into three categories:
    • Tarun: which is for loans between Rs.5.00 lakhs and Rs.10.00 lakhs
    • Kishore: which is for loans between Rs.50,000/- and Rs.5.00 lakhs
    • Shishu: which is for loans up to Rs.50,000/-.
    • Kishore and Tarun will get 50% concession on applicable Processing/Upfront fee. Shishu does not require any Processing fee / upfront fee.

    Interest Rate for Andhra Bank Mudra loans

    • The rate of interest for Shishu: Base Rate 9.75% p.a. at present
    • In the case of Kishore and Tarun: Applicable as per extant guidelines Base Rate + 1.75% p.a. at present 9.75 + 1.75 = 11.50% p.a.

    Andhra Bank Mudra loans FAQs

    1. What is the maximum amount that can be availed as loan with the Andhra Bank Mudra loan?

      Up to Rs. 10 lacs can be availed with this loan. Loan under Mudra are divided into three categories:

      Tarun: which is for loans between Rs.5.00 lakhs and Rs.10.00 lakhs

      Kishore: which is for loans between Rs.50,000/- and Rs.5.00 lakhs

      Shishu: which is for loans up to Rs.50,000/-.

    2. What is the interest rate applicable?
      • The rate of interest for Shishu: Base Rate 9.75% p.a. at present
      • In the case of Kishore and Tarun: Applicable as per extant guidelines

        Base Rate + 1.75% p.a. at present

        9.75 + 1.75 = 11.50% p.a.

    3. Does the loan require any guarantee?

      The loan does not require collateral security or guarantee.

    Andhra Bank Mudra 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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