Andhra Bank Personal Loan Interest Rates
| Salaried | Self-Employed | |
| Interest Rate | For loans up to 36 months: MCLR (1 year) + 4.40 % = 13.85% p.a. For loans above 36 months: MCLR (1 year) + 5.40 + 0.25 % = 15.1% p.a. | For loans up to 36 months: MCLR (1 year) + 4.40 % = 13.85% p.a. For loans above 36 months: MCLR (1 year) + 5.40 + 0.25 % = 15.1% p.a. |
| Loan Amount | For salaried applicant: Each instalment not less than 40% of gross salary. For Pensioners: 8 times of monthly pension not amounting to more than Rs.5 lakh. For income tax assesses: 2 times the average renewal commission for the previous 3 years, to a maximum of Rs.2 lakh. For those who are not income tax assesses: 50% of average renewal commission based on statement of income for the previous 3 years, to a maximum of Rs.2 lakh. | Twice the average annual income of the last 3 years shown in IT returns. |
| Loan Tenure | Maximum of 60 months, with a moratorium period of 1 year. | Maximum of 60 months, with a moratorium period of 1 year. |
| Lowest EMI | - | - |
| Processing Fee | Yes, nominal | Yes, nominal |
| Prepayment/Foreclosure Charges | No charge | No charge |
| Foreclosure Charges | No charge | No charge |
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