Do I need a guarantor for Car Loans?
A Third party guarantee is acceptable to the Bank as co-obligation for the loan.
Is there any exemption on service charges?
As per the current offer, no processing charges applicable on car loans from till Oct 31st, 2017.
Do I need to provide any security or collateral to obtain a car loan from the Bank?
Hypothecation of vehicle purchased as security. 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.
What are the costs associated with availing of a Car Loan?
The borrower needs to pay administrative charges at the end of every quarter.
Does Andhra bank have any tie-up arrangements with any company and what are the benefits of the same?
Yes, Andhra bank have tie up arrangements with Tata Motors and Maruti Suzuki for four wheelers. Free accessories will be offered exclusively to customers purchasing four wheelers with loans availed from our bank.