Andhra Bank
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Toll Free Number : 1800 425 1515

Vehicle Loan to Women Borrowers for 4 Wheelers
 Nature of the Scheme

A four 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 New Cars (irrespective of tenor) – RLLR+0.70%
For Used Cars (upto 36 months) – RLLR + 3.45%
Above 36 months to 60 months – RLLR + 3.45% + 0.25%

Income Criteria

For 4 wheelers income should be more than Rs. 1,00,000 /- 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 4 wheelers - minimum 12 months and maximum 72 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 loan amount with minimum  of Rs. 1000/- and maximum of Rs. 25,000/- plus GST.

For purchase of Second Hand Four Wheeler
Age of Vehicle

Not more than three years


40% of value as per reputed garage certified after depreciation

Quantum of Finance

60% of the value as per reputed garage certificate or 3 years gross income whichever is lower subject to maximum of Rs. 5.00 lakhs

Maximum 60 months (EMI)s

Valuation of the vehicle by a reputed garage to the satisfaction of the Bank.