|Loan Amount||Up to 90% of property Value|
|Rate of Interest||6.40% p.a onwards|
|Tenure||Up to 30 years|
|Lowest EMI||Rs 626 per lakh|
|Processing Fee||Maximum Rs 15000, up to 0.5% of loan|
Foreclosure/ Prepayment Charge
(for floating rate loans)
Union Bank subsumed Andhara Bank in 2020. Some of the noteworthy features of Andhra Bank home loans can be summarised as:
Andhra Bank Home Loan Interest Rate is calculated according to Union Bank of India Interest Rates Stack. Floating home loans are linked to external benchmark i.e. RBI’s repo rate. Currently repo rate is 4.00%.
Home loans are linked to EBLR i.e. External benchmark lending rate which is currently 6.80% p.a.
Spread charged by AB/UBI is 2.80%
Andhra Bank Home Loan Interest Rates for different home loan products:
|Floating Home Loan Rates (Up to Rs 30 Lakh||6.40% to 7.25%||6.50% to 7.35%|
|Floating Home Loan Rates (Above Rs 30 Lakh)||6.40% to 7.35%||6.50% to 7.40%|
|Fixed Rate Home Loans||11.40% - 12.65%||11.40% - 12.65%|
|Smart Save Home Loan||7.05% - 7.60%||7.10% - 7.65%|
|Home Loan Overdraft||8.50% - 8.85%||8.55% - 8.90%|
Being a PSU, there are transparent terms & conditions. Here is the list of costs involved:
|Valuation||Up to Rs. 10,000|
|Title Search Report||Rs. 1,000 to Rs 1,500|
|Vetting of Documents||Rs. 750 to Rs. 1,000|
0.10% of loan amount
(Rs. 500 to Rs. 5,000)
|Copy of document||500 per set|
You can apply or home loan according to your specific needs. There are several options available to cater maximum customer base.
|Duly filled & self-attested home loan application form + 3 passport size photographs|
Identity: PAN/ Passport/ Employee ID/ Any other ID
Address: Any utility bill or rent reciept
Age proof: Cass X certificate, Birth certificate
Salary slip of last 3 months
Form 16/ letter from employer
ITR of last 1 year
ITRs for last 3 years
Financial statements such as Balance Sheet, Profit & Loss Account audited by CA.
|Bank statement of last 6 months||Bank statements of last 12 months|
|Title documents of the property/ copy of approved plan from respective authority|
Besides KYC, income proof & property documents, NRIs are required to attach following documents along the application:
You can contact Andhra Home Loan Customer Care by calling on following numbers:
Toll Free All-India Numbers:
1800 22 22 44
1800 208 2244
Paid Numbers: 080-61817110
Dedicated number for NRIs: +918061817110
Write your queries here: firstname.lastname@example.org
You can also visit any of the nearest bank branches for queries & feedback.
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MyMoneyMantra is India’s largest phygital loan distributor. With trust of 70 lakh customers, we assure hassle free access to the best Home Loans up to 10 crore for housing loan borrowers in India. Our service is 100% free. We use latest technology and AI to serve customers across the length & breadth of our diverse country. Check Eligibility & Apply.
To calculate Andhara Bank Home Loan EMIs, all you need to do is share loan amount, interest rate & tenure in the home loan EMI calculator. You will instantly get home loan EMI and interest liability on your home loan.
All property co-owners can become a co-applicant for a home loan. Further family members such as parents, spouse, siblings or adult kids with income source can become co-applicants for a home loan. Adding a co-applicant enhances loan eligibility.
Applying for pre-approved home loans, ensure that you do not get rejection on the loan. Further, good credit score and eligible EMI to net monthly income ratio assures approval on the loan application.
Tax benefits on home loans are universal across the lenders. You can avail tax deduction up to Rs 2 Lakh on repayment of loan interest u/s 24 & loan principal up to Rs 1.5 Lakh u/s 80C.
There are no hidden charges. The fees & charges are as per Union Bank of India home loan policy. The details are listed on the bank’s website.
Andhara bank offers home loans up to 90% of property value. There is no upper limit placed on the loan amount.
You can avail home loan according to your requirement. There is no capping whatsoever.
Your home loan eligibility is basis your current fixed obligations to income ratio. Use Home Loan Eligibility calculator to assess the loan eligibility.
Andhra bank merged with Union Bank of India, effectively from April 1, 2020. So to apply for Andhara Bank Home Loan, you basically need to now apply for Union Bank of India Home Loan. You get choice of applying online or offline, lowest interest rate, low processing fee, customer friendly terms & easy eligibility with Union Bank.