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This home loan plan is offered to salaried applicants who either have or do not have pension. The processing fee of the loan is Rs or 0.50 % of the total loan amount. The loan is available for the salaried applicants who either have or do not have pension that is either owned by a single applicant or jointly.
Financing of upto 90 % which is the percentage of the total property cost. The minimum EMI costed by the bank is Rs. 765 for each lakh. Loans are granted to applicants with age ranging from 21 to 65.
✅ How to Calculate Andhra Bank Home Loan EMI?
It should be kept in mind that such financial requirements are genuine and not frivolous. This loan can be used to satisfy any legitimate personal monetary requirement an individual could have. If you are an existing savings account customer of Andhra Bank then it makes the process even faster. The loan approval and the verification process are quick and simple.
Individuals who wish to apply for an Andhra Bank mortgage loan need to satisfy the following conditions. A certificate from the engineer stating the current value of the house, the condition of the property and its life. Copies of document title and link documents of the property that the seller has along with receipts and tax invoices. A statement of the loan account confirming that the asset is a performing asset.
Andhra Bank Home Loan Documents Required
Being one of the leading public sector banks, there is no doubt about the fact that Andhra Bank is a name to reckon with. Any individual can opt for this facility at affordable interest rates that range from 6.40% - 7.40%. You can look at all the important details related to Andhra Bank Home Loan interest rates in this page.
The bank offers an array of exciting loan and deposit products to suit the requirements of its clientele. One of the favourite loan products offered by Andhra Bank is the Home Loan. Andhra Bank has Home Loan products to meet all the needs of housing. There are exclusive products for purchasing a plot of land and constructing a house thereon. Andhra Bank provides loans for the purchase of new or second-hand flats/apartments and houses. The bank also caters to requirements like home improvement or extensions.
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If you are unable to repay the personal loan as per loan agreement, then you can opt other ways of closing the loan. Loan settlement or debt consolidation is two of the options. You may be able to convert the unsecured loan as secured one. Check with the Andhra bank to know what the other options to close the loan are. A person can get maximum 90% funding if the loan amount is Rs.30 lakhs, 80% up to Rs.75 lakhs and 75% for loan amounts above Rs.75 lakhs.
The Andhra Bank provides repayment period to a maximum of 30 years. The loan can be owned either by a single applicant or jointly by family members. The bank will charge an interest to you on the home loan amount and the borrower pays the principal along with the interest amount. Your home loan eligibility is basis your current fixed obligations to income ratio. Use Home Loan Eligibility calculator to assess the loan eligibility.
We get your Credit Score online and provide a free Credit Health Analysis of your Equifax report. Based on the analysis, we help you discover loans and credit cards best suited for your credit profile. We help you understand your Credit Profile, Credit Information Report and know where you stand. We ensure that you have a better shot at getting an approval for a loan or credit card you apply since we match the lender’s criteria to your credit profile. We help you avoid loan rejection by carefully determining your eligibility and matching you with the right lender/product. We treat your data with the utmost confidentiality and will never share or sell it to anyone.
It is beneficial to the customers, as the tenure remains fixed. MyMoneyMantra is India’s largest phygital loan distributor. With trust of 70 lakh customers, we assure hassle free access to the best Home Loans up to 10 crore for housing loan borrowers in India. We use latest technology and AI to serve customers across the length & breadth of our diverse country. Home loan interest rates are the lowest ever in the past 15 years.
You can avail the lowest Home Loan EMI at Rs.626 per lakh with maximum repayment flexibility. Some options are Step-Up EMIs, Step Down EMIs, Moratorium, OD facility, balance transfer, top up and more. The Reserve Bank of India has urged all banks to switch over to the repo rate-linked interest rate structure before October 01, 2019. Banks like Andhra Bank have announced that they will be launching unique loan products linked to the repo rates.
Rs. 250 is the administrative charge for loan amounts above INR 15 lakhs. The property should not be more than 25 years of age in the case of a house and 20 years in the case of a flat. The bank loan can be taken by salaried applicants who can take it alone or with a family member. The fees & charges are as per Union Bank of India home loan policy.
The plot loan can also be availed if the plot is sold by an agency that is state owned. This could be the housing boards in metro and urban areas. In the case of loan being taken jointly repayments are calculated in consolidated basis. It can be used to purchase a residential plot where the borrower can build a house. Maximum financing on this loan available is 90 % of the total property cost.
The Andhra Bank Personal loan section offered can be categorised into two parts, i.e., Consumer Loans and Clean Loans. The Consumer Loans are the personal loans offered to salaried people while the Clean Loans are for self-employed individuals. This scheme of personal loans, as defined in the introduction is for individuals who earn a regular salary.
One can avail maximum Andhra Bank Home Loan eligibility for up to 90% of property value. LTV limit is up to 90% for purchase & construction and up to 80 % for repairs. You can switch to regular option or vice versa two times during the loan duration.
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