Andhra Bank
Home Loan

Union Bank subsumed Andhara Bank in 2020. Some of the noteworthy features of Andhra Bank home loans can be summarised as:

• Customised home loan schemes for purchase, construction or renovation of a residential unit/ plot.
• Resident as well as non-residents can apply.
• No capping on maximum loan amount.
• Apply for loans up to 90% of property value (LTV).
• Currently borrowers can avail lowest interest rate offer at 8.70% p.a.
• Optional moratorium up to 3 years is available for home loan borrowers.
• Lowest Home EMI is Rs. 783 per lakh.
• Apply online or offline as per choice.
• Balance transfer & top up options are also available.

Additional Info: Also check Andhra Bank Balance Enquiry Toll-Free Number

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 6.50%.

Home loans are linked to EBLR i.e. External benchmark lending rate which is currently 8.70% p.a.

Andhra Bank Home Loan Interest Rates for different home loan products:

Being a PSU, there are transparent terms & conditions. Here is the list of costs involved:

You can apply or home loan according to your specific needs. There are several options available to cater maximum customer base.

Andhra Bank Home Loan:

• Regular Andhara Bank Housing Loan product for a variety of home loan needs.
• Borrowers get option to apply for a floating home loan or a 5 year fixed to floating variant.
• Both residents & non-residents can apply.
• Attractive home loan interest rate applicable.
• No limit on maximum home loan amount for purchase of a house.
• Limit of Rs. 30 Lakhs is place for repairs and renovation loan.
• Home Loan tenure can be extended up to 30 years for purchase or construction loan.
• For renovation, tenure limit is 15 years.
• Optional moratorium of 12- 36 months, according to loan purpose & borrower’s profile.
• Property Insurance is mandatory for home loan.

Home Smart Save

• Home Loan overdraft facility.
• Opt for this option if you have surplus funds.
• Park surplus amount in the loan account & save interest cost.
• You can switch to regular option or vice versa two times during the loan duration.

Home Loan- Awas

• Affordable home loan scheme for Semi-Urban/ Rural regions.
• Borrowers can apply for home loans up to Rs. 10 Lakhs for semi-urban & up to Rs. 7 Lakhs for rural areas.
• For repairs & renovations, loan limit is placed at Rs. 5 Lakhs.
• LTV limit is up to 90% for purchase & construction and up to 80 % for repairs.
• Maximum repayment tenure of 30 years home loan & up to 15 years for repair & renovation.

• Resident & non-resident Indians can apply.
• Applicant’s age should be in the range of18- 75 years.
• Borrower’s current income, existing loans, repayment capacity & collateral value collectively determine the eligibility for a home loan.
• One can avail maximum Andhra Bank Home Loan eligibility for up to 90% of property value.
• There is no loan amount limit put on home loans for purchase & construction.
• Maximum loan amount approval for renovation is for Rs 30 Lakhs.

Besides KYC, income proof & property documents, NRIs are required to attach following documents along the application:

• Latest work permit
• Copy of Visa duly stamped on Passport
• Employment contract in English

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: customercare@unionbankofindia.com

You can also visit any of the nearest bank branches for queries & feedback.