If you are planning to get married then expenses related to venue, decoration, catering, jewellery, invitation cards, etc. might be too much for your savings. You can apply for Andhra Bank Marriage Loan to deal with all the expenses related to your wedding without any inconvenience. You can easily apply for the marriage loan that allows quick disbursement of loan amount and can repay it as per your repayment ability.
Interest Rates
Andhra Bank has introduced Marginal Cost of Funds Based Lending Rate (MCLR) with effect from 01.04.2016 applicable for all fresh loans sanctioned as well as renewals on or after 01.04.2016. The one year MCLR is 8.55%
| Loan Period | For State and Central Government employees, Public sector under takings who are drawing salary through our Branches and Pensioners | For private employees, non salaried class and LIC agents etc. |
| Upto 36 months | MCLR (One year) + 2.85% | MCLR (One year) + 3.35% |
| Above 36 months | MCLR (One year) + 3.10% | MCLR (One year) + 4.35% |
Eligibility Criteria
You should either be a salaried professional or a self- employed individual or a pensioner or a LIC agent
- If you are a pensioner, your maximum age should be 75
- If you are a LIC Agent, your maximum age should be 55 years
Also Know: What do I need to do to avail a personal loan for self employment?
Documents Required
- KYC documents – Aadhaar Card, Voter ID Card, Passport, Driving License
- Salary slip/IT returns/assessment order, property statement
- Latest income tax assessment order, property statement (in case of non- salaried person)
EMI Calculator
Monthly EMI ₹ 15,622
Total Amount Payble ₹ 5,62,395(Principal + interest)
Principal Amount ₹ 5,00,000
Total Interest Payble ₹ 62,395
Personal Loan at Attractive Interest Rates Apply Now
FAQs
Q. I am a pensioner. How much loan amount can I avail from Andhra Bank?
Ans. You can avail a loan amount upto 8 times of monthly pension. Cap for pensioners is Rs. 5 lakh.
Q. I am a LIC agent. How much loan amount can I avail from the bank?
| For those who are income tax assesses | Two times of average renewal commission for the previous three years, subject to a maximum of Rs. 2 lakh |
| For those who are not income tax assesses | 50% of average renewal commission basing on a statement of income for the previous three years, subject to a maximum of Rs. 2 lakh |
Q. How do I get in touch with Andhra Bank?
- You can call on 1800 425 1515 (between 10.00 a.m. to 5.00 p.m. on all working days except second and fourth Saturdays)
- You can send an email on customerser@andhrabank.co.in