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Andhra Bank extends home loans to customers at competitive interest rate based on the external benchmark called the RBI Repo Rate. The bank offers tailored home loan solutions to both Resident and Non-Resident individuals from any rural, semi-urban, urban or metro area.
Table of Contents
Andhra Bank Home Loan Interest Rates
The rate of interest offered by Andhra Bank Home Loan is directly linked with the Repo Linked Lending Rate (RLLR). The total interest rate applicable on a home loan is the combination of RLLR and the spread determined on the basis of loan amount and gender. The table below shows the interest rates offered.
| Home Loan Scheme Slab/Type | Interest Rate for Others | Interest Rate for Women |
| Rs.30 lakh to Rs.75 lakh | 8.20% p.a | 8.15% p.a |
| Above Rs.75 lakh | 8.25% p.a | 8.20% p.a |
| Renovation/repairs | 9.25% p.a | 9.25% p.a |
Compare Interest Rates on Home Loans for Top Banks & HFCs
| Name of Lender | Up to Rs. 30 Lakh | Above Rs. 30 Lakh to Rs. 75 Lakh | Above Rs. 75 Lakh |
| SBI | 8.40% - 10.15% p.a. | 8.40% - 10.05% p.a. | 8.40% - 10.05% p.a. |
| HDFC Bank Limited | 8.35% p.a. onwards | 8.35% p.a. onwards | 8.35% p.a. onwards |
| LIC Housing Finance | 8.40% – 10.35% p.a. | 8.40% – 10.55% p.a. | 8.40% – 10.75% p.a. |
| ICICI Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
| Kotak Mahindra Bank | 8.70% p.a. onwards | 8.70% p.a. onwards | 8.70% p.a. onwards |
| PNB Housing Finance | 8.50% - 14.50% p.a. | 8.50% - 14.50% p.a. | 8.50%-11.45% p.a. |
| Punjab National Bank | 8.45%-10.25% p.a. | 8.40%-10.15% p.a. | 8.40%-10.15% p.a. |
| Bank of Baroda | 8.40% - 10.65% p.a. | 8.40% - 10.65% p.a. | 8.40% - 10.90% p.a. |
| Union Bank of India | 8.40% – 10.80% p.a. | 8.40% – 10.95% p.a. | 8.40% – 10.95% p.a. |
| IDFC First Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
| L&T Finance Limited | 8.60% p.a. onwards | 8.60% p.a. onwards | 8.60% p.a. onwards |
| Bajaj Housing Finance | 8.50% p.a. onwards | 8.50% p.a. onwards | 8.50% p.a. onwards |
| Tata Capital Housing Finance | 8.70% p.a. onwards | 8.70% p.a. onwards | 8.70% p.a. onwards |
| Federal Bank | 8.80% p.a. onwards | 8.80% p.a. onwards | 8.80% p.a. onwards |
Check interest rates on Home Loans for other Banks and HFCs Compare Now
Andhra Bank Home Loan Processing Fee
| Particulars* | Charges/Fee |
| Processing Fee | Up to 0.50% of the loan amount, subject to a maximum of Rs. 10,000 |
* Goods and Services Tax (GST) as applicable will be levied in addition to the mentioned charges.
Note: Other additional charges as applicable may be levied by the bank.
Also Check: Home Loan Interest Rates
Types of Andhra Bank Home Loan
Andhra Bank offers customized home loan schemes for both resident and non-resident individuals. These are:
- Housing Loans-General: This scheme is available to all eligible resident individuals having a regular source of income. It can be used for various purposes such as:
-
- To purchase/construct house/flat
- To renovate/extend/repair existing house/flat
- To take over housing loans from other finance companies/financial institutions/banks
- Housing Loans-NRI: This scheme is available to Non-resident Indians and persons of Indian origin individually or jointly with resident close relatives. It can be used for various purposes such as:
- To purchase/construct house/flat
- To renovate/extend/repair existing house/flat
Andhra Bank Home Loan Eligibility Criteria
- Resident and Non-Resident individuals
Loan Amount
- For purchase/construction: Up to 90% of the property value
- For repairs and renovation:
Up to 5 years of age of the property – Max loan Rs.10.00 lakh
Above 5 years and up to 25 years – Max loan Rs.15.00 lakh
Age
- Minimum: 21 years
- Maximum: 65 years
Andhra Bank Home Loan Documents Required
Salaried Individuals
- Duly filled in and signed the application form with photographs
- Identity, address and age proof
- Salary slip of last 3 months
- Bank statement of the past 6 months
- Title documents of the property or copy of the approved plan from the respective authority for construction
Self Employed Individuals
- Duly filled in and signed application form with photographs
- Identity, address and age proof
- ITR and financial statements, including balance sheet, profit & loss account, schedules. (documents must be certified by a CA)
- Bank statement of the past 12 months
- Title documents of the property or copy of the approved plan from the respective authority for construction
Andhra Bank Home Loan EMI Calculator
Monthly EMI ₹ 15,622
Total Amount Payble ₹ 5,62,395(Principal + interest)
Principal Amount ₹ 5,00,000
Total Interest Payble ₹ 62,395
Apply for Home Loan at Attractive Interest Rates Click Here
Andhra Bank Home Loan Customer Care Details
Customers can reach out to Andhra Bank on the below-mentioned contact number to get their home loan-related queries addressed.
- Toll-Free Number: 1800 425 1515
- Tel: 040 23234313, 23252000 Extn: 2422, 2577
- Fax: 23232419
- Email ID: customerser@andhrabank.co.in