Andhra Bank Personal Loans - Eligibility Criteria for Andhra Bank Personal Loan

Andhra Bank Personal Loans

Andhra Bank provides personal loans to its customers for different financial needs at very affordable rates of interest, and other benefits such as quick documentation process and reasonable repayment options. mymoneykarma gives you all the information you need on Andhra Bank personal loans.

Benefits of Andhra Bank Personal Loans

Andhra Bank personal loans are loaded with customer-friendly features. Here are a few features of Andhra Bank personal loans.

• Significant loan amounts ranging from a minimum of Rs 25,000 to a maximum of Rs 5 lakhs. The loan amount depends on the applicant's credit score, repayment capability, credit history, and yearly income.
• Long loan tenures ranging from a minimum of 12 months and a maximum period of five years.
• Attractive interest rates ranging between 11.55% - 14% per annum.
• Loans available for salaried individuals, public and private company employees, and government employees.
• Special offers if the applicant is an existing customer of Andhra Bank.
• Various feasible repayment channels such as NEFT, post-dated cheques, and online banking.
• Facility of personal loan transfer from other banks to Andhra Bank.
• Simplified loan application and approval process with minimal documentation.

Types of Andhra Bank Personal Loans

Andhra Bank offers a single type of personal loan that is acceptable for a large pool of customers ranging from freshers to senior citizens.

Eligibility Criteria for Andhra Bank Personal Loan  

Applicants must meet the following criteria to get a personal loan from Andhra Bank.

• Minimum income of Rs 1 lakh per annum.
• Sound repayment capability and a good credit score.
• An age range of 21-55 years..
  

Documents Required for Andhra Bank Personal Loans

Applicants need to submit the following documents while applying for Andhra Bank personal loan.

• A filled loan application form with necessary details such as income, occupational details, and personal information.
• Two copies of recent passport sized photographs
• Copies of the applicant's PAN card and Aadhaar card.
• Copies of income proof such as salary slips of the previous six months,
• Bank statements of the last six months, and a copy of Form 16.
• Copies of residence proof such as telephone bills, electricity bills, or rental agreement attested by the applicant.
  

How to Apply for Andhra Bank Personal Loans Online

Applicants can apply for Andhra Bank personal loans online by visiting the Andhra Bank website, following the on-screen instructions, and uploading the required documentation on to the website. Subsequently, the applicant profiles are evaluated, and the loan amount is deposited in the applicant's account upon the approval of the loan within a few days.

How to Apply for Andhra Bank Personal Loans Offline

Customers can also directly walk into the personal loan centers of Andhra Bank along with the necessary documents. They can fill up the application form received at the bank and submit it with the documentation. The loan is approved within a few working days.