Andhra Bank Car Loans

Find details of andhra bank car loan through Andhra Bank EMI calculator. Just enter the loan amount of car you want to get financed and rate of interest. Andhra Bank EMI calculator automatically calculates the installment on reducing balance and it does not have any other processing fee.

Also see :   Car Loan Emi Calculator
Andhra Bank
Andhra Bank

New Car Loan Rates

Tenure3 Years
Down Payment0.1
Processing FeeRs 250 to Rs 1,000
Interest Rate7.40%
Document Charges
Andhra Bank avails you with host of services and facilities online with which you can get car loan approval in an easier way. The customers who are dreamt of owning their desired car will turn their dream into reality via the golden opportunity provided by Andhra Bank. The eligibility criteria set by the bank that any individual having minimum gross income of Rs. 1.00 lakh per annum erases the hindrance that only silver-spooned can purchase the latest available cars. The bank even churns out the repaying capacity of an individual who had applied for loan by extending the tenure up to 8 years for new car while it is 5 years for used cars. Vicky. in proves to be the powerful tool through the provision of accurate information on processing fee, documentation charges, EMI amount of such banks

Loan Eligibility Calculator

Andhra Bank Car Loan eligibility, Interest Rate, documents and process

  • Any individual having minimum gross income of Rs. 1.00 lac per annum .
  • Corporate customers of the Bank.
Margin on Road Price amount for New Cars.

Category of the Borrower for New Cars.

Minimum margin

Salaried class and where salary deduction is available


Other Borrowers.


For Used cars


 Quantum of Finance
New Vehicle:
  • Eligible amount is worked out based on the repayment capacity and maximum permissible EMI should not be more than 60%of net salary in case of salaried people and 70% in case of Non salaried class .
  • Used Cars : (not more than three years old): 60% of garage value or Rs. 5,00,000 /- whichever is lower.
  • New Cars - Maximum 84 months (EMI).
  • Used Cars – Maximum 60 months EMI.
  • Repayment terms can also be in the shape of Quarterly/Half yearly/Yearly instalments depending on the income flow and occupational status of the borrower.
Third party acceptable to the Bank .

Hypothecation of vehicle purchased

  • Valid driving license if self driven.
  • Proforma Invoice.
  • Salary Slip
  • IT Returns/
  • Assessment Order,
  • Documents for KYC Compliance.
Car loans to corporate clients and firms.Eligibility: Limited Companies, Firms, Societies and Trusts holding account with Andhra bank. Maximum loan amount : Rs.25 lakhs to Rs.50 lakhs depending upon the dealings with the Bank. Hypothecation charge is to be registered in Registration Certificate of the vehicle in favour of the bank and is exempted from registration of charge with ROC.