Andhra Bank
Facebook Twitter
Skip to navigation | Skip to main content

Toll Free Number: 1800 425 1515

Call 040-23122297 for Internet & Mobile Banking/ATM -24x7 Helpdesk or mail to us on adchelpdesk@andhrabank.co.in

Anytimers
 
Property - Overdraft and Property- Term Loan
 
Property - Overdraft and Property- Term Loan.
 
Features ABPOD (Property-Overdraft) ABPTL (Property-Term Loan)
Eligible borrowers Salaried Individuals, pensioners and Professionals and Self Employed. Individuals engaged in Agriculture and Allied activities and others, who are having income tax returns for at least Two years.

NRIs
Non Resident Indians (NRIs) having a regular job abroad in a Indian / foreign company, organization or government epartment.

Other than individuals
Partnership firms, limited companies and LLPs are also eligible for finance under this scheme. The entity should be making cash profit for the last Two years.

Trusts /societies will not be eligible to avail loan under the scheme.
Salaried Individuals, pensioners and Professionals and Self Employed. Individuals engaged in Agriculture and Allied activities and others, who are having income tax returns for at least Two years.

NRIs
Non Resident Indians (NRIs) having a regular job abroad in a Indian / foreign company, organization or government epartment.

Other than individuals
Partnership firms, limited companies and LLPs are also eligible for finance under this scheme. The entity should be making cash profit for the last Two years.

Trusts /societies will not be eligible to avail loan under the scheme.
Age 21 to 65 years 21 to 65 years
Limit Minimim: 2,00,000/- Min: 2,00,000/-
Maximum:No maximum limit Maximum: No maximum limit
Margin 50% of Realizable market value of the property. 40% of Realizable market value of the property.
Interest Rate MCLR+ (Spread) 2.40=11.95%p.a

Loan period ROI
Up to 36 months MCLR+1.90% i.e., 11.45% p.a
Above 36 months up to 60 months MCLR+1.90%+0.25% i.e., 11.70% p.a
Above 60 months MCLR+1.90%+0.50% i.e., 11.95% p.a

Repayment Period OD Facility with 10% cut back every year on original Limit to liquidate the loan at the end of 10 year. Max : 180 EMI (Depending upon Requirement Quarterly and Half yearly installments can be fixed)
Upfront Fee Processing charges @300/lakh + S.tax (Minimum:Rs.1000/- and Maximum:25000 plus Tax) @1%of the Limit + Tax Minimum:Rs.1000/- Maximum : Rs.1,00,000/-
Supervision Charge Upto- 10 lakh Rs. 1000/- >10 lakh up to 50 lakh Rs.2500/- Rs.50 lakh and above Rs.5000/- Not Applicable.
Maximum permissible Bank Finance a)Salaried Class & Pensioners: 60 times of Gross Monthly income as evidenced from income for last two year IT returns/salary certificates for last three months.
b)Other Individuals like Professionals and Self Employed and Individuals engaged in Agriculture and Allied activities: 5 times ofAverage (last two years) annual income as per IT returns.
c)Other than Individuals:(Partnership firms, limited companies, L L Ps) 3 times of average (last two financial years) cash profit as per audited balance sheet. In case of unaudited firms 3 times of average income as per (last two years) IT returns. The entity should obtain NOC from other Banks where they are enjoying credit facilities.
d)Salaried Class & Pensioners: 60 times of Gross Monthly income as evidenced from income for last two year IT returns/salary certificates for last three months.
e)Other Individuals like Professionals and Self Employed and Individuals engaged in Agriculture and Allied activities: 5 times ofAverage (last two years) annual income as per IT returns.
f) Other than Individuals:(Partnership firms, limited companies, L L Ps) 3 times of average (last two financial years) cash profit as per audited balance sheet. In case of unaudited firms 3 times of average income as per (last two years) IT returns. The entity should obtain NOC from other Banks where they are enjoying credit facilities.
Security The property should be non-agricultural. The property may be residential / commercial / Industrial Building/plot. The age of the building should not be more than 25 years and the remaining life of the building should be more than 15 years. The property to be mortgaged should be free from all encumbrances and the borrower/applicant should have clear marketable title on land and /or building proposed to be mortgaged for the proposed finance under the scheme The property should be non-agricultural. The property may be residential / commercial / Industrial Building/plot. The age of the building should not be more than 25 years and the remaining life of the building should be more than 15 years. The property to be mortgaged should be free from all encumbrances and the borrower/applicant should have clear marketable title on land and /or building proposed to be mortgaged for the proposed finance under the scheme
Over Draft Facility to existing Housing Loan Borrowers Loans against property can be extended to existing Housing Loan customers after ensuring satisfactory repayment period of 12 months or more including repayment period with other Banks (In case of take over loans). Loans against property can be extended to existing Housing Loan customers after ensuring satisfactory repayment period of 12 months or more including repayment period with other Banks (In case of take over loans).
 
 
chiclogo