Home Loans Hub Twitter Button from twitbuttons.com
 • Home Improvement Loans  • Home Equity Loans  • Mortgage Calculator  • Get Home Loans
 Home  » Andhra Bank  » Home Loans Rates

Andhra Bank Home Loans Rates

Andhra Bank home loans rates are both competitive and affordable. Andhra Bank offers two types of home loans – priority sector housing loans and non priority sector housing loans.

About Andhra Bank Home Loans Rates

Andhra Bank Priority Sector Housing Loans and Andhra Bank Non Priority Sector Housing Loans help the borrowers make their dream of homeownership come true. Both resident and non-resident Indians are eligible to apply for these loans. The bank offers housing loans under the brand name “AB Housing Loans” to serve a variety of purposes of home buyers. The borrower can take a co-applicant which may be his father, mother, son, brother or spouse.

Housing loan schemes offered by Andhra Bank have been tailored to fulfill all your requirements and assist you to achieve your dream of owning a home. Both NRIs and Indian citizens can qualify for Andhra Bank home loans. The bank has fixed limits regarding the loan amount for both priority and non priority sector. The approval of home loan schemes offered by Andhra Bank is dependent on the limit determined for the priority sector. Salaried individuals, self-employed persons, agriculturists and businessmen can avail Andhra Bank Priority Sector and Non Priority Sector Home Loans. The average loan processing period is 7 days.

The table given below will give you a comprehensive idea about Andhra Bank Home Loans Rates:

Term Interest Type Interest Rate
15 - 20 Yrs. Floating 11 %
10 - 15 Yrs. Floating 11 %
5 - 10 Yrs. Floating 10.75 %
1 - 10 Yrs. Floating 10.5 %


Pre-payment Penalties

Pre-payment penalties will be applicable in case of early closure of term loan by the borrower provided the term loan is prepaid either from his funds or through takeover by other Banks. The prepayment penalty applicable for Andhra Bank home loans is 2.00% flat on the amount which is prepaid.



Amount of finance available for repairs/renovation

Amount of  finance  for  renovation/repairs:
Age  of  House Amount (maximum)
Upto  5 years Rs.2.00 lakhs
 Above  5 years & upto 25  years  Rs.8.00 lakhs


Eligibility Requirements:

  • The maximum repayment term is 20 years.
  • The minimum age of the loan applicant has to be 21 years and the maximum age should not be more than 65 years.
  • If you are purchasing an independent house, then the house should not be older than 25 years.
  • The amount that is to be availed as loan would be either 85% of the registration value of the property or 75% of the total construction cost incurred.
  • For salaried individuals, they should furnish the pay certificates for the past 3 months and should furnish information about the income tax returns filed for the last 3 years.
  • When you are purchasing an independent flat, then the flat should not be older than 20 years.




Andhra Bank

Loans

Home Loan

Home Loan Rates