|Loan Name||Interest Rate||Processing Fee||Loan Amount||Tenure|
|Andhra Bank Consumer Loan||MCLR (One year) + 2.85% - MCLR (One year) + 4.3%||0||maximum of 75% of price of article||maximum 60 months|
|Andhra Bank Professional Loan||Base Rate + 3.25%=13.5%||0.50% of loan amount||Rs 10,00,000||up to 60 months|
Q: What are the interest rates in Andhra bank for a personal loan?
A: Andhra Bank offers an attractive interest rate for personal loan borrowers.
The interest rate range falls between 12% to 13% per annum. Based on the applicant's profile the interest rate will be decided.
Q: What are the features in Andhra bank personal loan?
A: Personal Loan is available for both salaried and self-employed applicants.
Q: How many days does Andhra bank will take to complete the personal loan process?
A: Banks generally convey their decision on a loan within 15 days of submitting a loan application. If you provide required documents correctly without a fail then you can avail a personal loan within six working days. However, some banks also offer instant loan offers which can be approved within a matter of few hours to 2-3 days.
Q: Are there any prepayment charges on Andhra Bank personal loan?
A: Andhra bank doesn’t collect any prepayment charges from personal loan borrowers. You can take a personal loan from Andhra Bank without any prepayment charges.
Q: How does Andhra Bank personal loan repayment happen?
A: The repayment of a personal loan happens in the form of an EMI (Equated Monthly Installment) through the customer's bank account. The customer is required to present a few post-dated cheques and sign an ECS mandate in favour of the bank at the time of loan disbursal.