Andhra Bank
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Toll Free Number : 1800 425 1515

Loans for 2 Wheelers
 Nature of the Scheme
  • 2 wheeler loans to Individual
  • In case of salaried class minimum take home pay of 40% after deducting the installment for proposed loan

  • Loan can be sanctioned to Son/Daughter basing on the income eligibility of parent, including parent as co-applicant.

  Rate of Interest
For loans upto 36 months – RLLR+1.95%  
For loans above 36 months to 60 months – RLLR + 1.95% + 0.25%
 Quantum of Finance

New Vehicle:

  • 85% of on road price (includes invoice price, Life tax, Registration charges, Insurance and accessories) for salaried class/ SME/Corporate borrowers of the Bank. For other borrowers 80% .
  • Maximum Loan Amount is Rs.5.00 lakhs.
  • Repayable in maximum of 60 EMIs or in Quarterly/Half yearly/Yearly instalments for a maximum period of 60 months depending on the income flow and occupational status of the applicant.
Third party acceptable to the Bank .

Hypothecation of vehicle purchased .

  • Valid driving license
  • Proforma Invoice.
  • Salary Slip
  • It Returns
  • Assessment order.
  • Documents for KYC compliance.
 Processing Charges 
 1 % of the limit sanctioned with a minimum of Rs.500/- + GST and maximum of Rs.5,000/- plus GST.