Andhra Bank
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Toll Free Number : 1800 425 1515

Vehicle Loan to Women Borrowers for 2 Wheelers
 Nature of the Scheme

A two wheeler vehicle loan scheme exclusively for women including purchase of four wheelers on second sale.

  • Salaried women (permanently employed)/ professional and self-employed having income proof.
  • Women borrower should have a valid driving licence in their name.
  1. Salary of the applicant is to be routed through Andhra Bank
  2. Letter of Undertaking from the employee for recovery
  3. Post dated Cheque at the discretion of the manager as a special case
  • P&SE Woman : Post dated cheques to be obtained
  Rate of Interest

For loans upto 36 months – RLLR+1.95%
For loans above 36 months to 60 months – RLLR + 1.95% + 0.25% 

Income Criteria

For 2 wheelers income should be more than Rs. 60,000 /- p.a
 50% of the husband's salary will be taken for computing eligibility provided he is a  co-obligant. 

 Quantum of Finance
New Vehicle: 90% on road price which includes invoice price, Life tax, Registration charges, Insurance and accessories, if any, worth Rs. 5,000 /- or 3 years gross salary whichever is lower.

Second Sale: Four wheelers (not more than three years old): 60% of garage value or 3 years gross income whichever is lower. 


For 2 wheelers - minimum 12 months and maximum 60 months (EMI)

Husband/ father or any third party acceptable to the bank. 


Hypothecation of vehicle purchased

Valid driving license
 Proof of Income - Salary Slip/ IT Returns/ Assessment Order, Proforma Invoice.
Valuation certificate from reputed garage for second sale. 

 Processing Charges

 1 % of the limit sanctioned with a minimum of Rs.500/- + GST and maximum of Rs.5,000/- plus GST.

Prepayment Charges
No prepayment charges