{"id":185,"date":"2018-02-22T09:55:51","date_gmt":"2018-02-22T04:25:51","guid":{"rendered":"http:\/\/www.theteamwork.com\/finance\/?p=185"},"modified":"2018-02-22T23:44:11","modified_gmt":"2018-02-22T18:14:11","slug":"900077-andhra-bank-current-loan-against-securities-interest-rates","status":"publish","type":"post","link":"https:\/\/www.theteamwork.com\/finance\/900077-andhra-bank-current-loan-against-securities-interest-rates.html","title":{"rendered":"Andhra Bank – Current Loan Against Securities Interest Rates"},"content":{"rendered":"

Andhra Bank – Current Interest Rates for Loan Against Mortgage of Securities<\/strong><\/p>\n

New Delhi (Delhi, India), February 22, 2018<\/p>\n

Andhra Bank Cuts Loan Against Securities Interest Rate to 13.35% Per Annum<\/strong><\/p>\n

The Andhra Bank has decreased its loan against securities interest rates by 0.25 percent, or 25 basis points with effect from Monday, September 11, 2017.<\/p>\n

Andhra Bank has revised its minimum loan against securities interest rate from 13.60 percent to 13.35 percent per annum (MCLR-1Year + 4.95%) for the loan against mortgage of securities.<\/p>\n

The loan against securities interest rate of Andhra Bank is benchmarked or linked to its One-Year MCLR (Marginal Cost of Funds based Lending Rate). Andhra Bank’s current One-Year MCLR, which is called MCLR-1Y, is 8.40 percent per annum with effect from Monday, September 11, 2017.<\/p>\n

Andhra Bank’s current interest rate cut will reduce the cost of funds for those people who want to avail loan against mortgage of their securities.<\/p>\n

Securities Eligible for Andhra Bank Loan Against Securities<\/strong><\/p>\n

– Approved List of Demat Shares
\n– Approved List of Mutual Fund Units
\n– Approved List of Non Convertible Debentures
\n– Fixed Maturity Plans (FMP)
\n– Exchange Traded Funds (ETF)
\n– Life Insurance Policies
\n– Savings Bonds
\n– Kisan Vikas Patra (KVP)
\n– National Savings Certificate (NSC)
\n– Gold Deposit Certificates (GDC)
\n– NABARD’s Bhavishya Nirman Bonds<\/p>\n

Andhra Bank – Current Loan Against Mortgage of Securities Interest Rates<\/strong><\/p>\n

Andhra Bank Loan Against Mortgage of Securities Interest Rate:<\/strong> 12.35% Per Annum (Interest levied on a daily reducing balance)<\/p>\n

Andhra Bank Loan Against Mortgage of Equity Shares Interest Rate:<\/strong> 12.35% Per Annum (Interest levied on a daily reducing balance)<\/p>\n

Andhra Bank Loan Against Mortgage of Securities Rate of Interest is Floating or Fixed:<\/strong> Fixed Rate of Interest (Reviewed and renewed annually)<\/p>\n

Quantum of Andhra Bank Loan Against Mortgage of Securities:<\/strong> Up to 75% of the Market Value of the Securities<\/p>\n

Andhra Bank Loan Against Mortgage of Securities Minimum Borrowing Limit:<\/strong> Minimum Loan Amount is Rs. 10,000<\/p>\n

Andhra Bank Loan Against Mortgage of Securities Maximum Borrowing Limit:<\/strong> Maximum Loan Amount is Rs. 20,00,000<\/p>\n

Maximum Loan Amount for the Andhra Bank Loan Against Securities:<\/strong><\/p>\n

Demat Shares: Up to 50% of the Market Value<\/p>\n

Mutual Fund Units (Equity): Up to 50% of the Market Value<\/p>\n

Mutual Fund Units (Debt): Up to 75% of the Market Value<\/p>\n

Fixed Maturity Plans (FMP): Up to 75% of the Market Value<\/p>\n

Exchange Traded Funds (ETF): Up to 75% of the Market Value<\/p>\n

Life Insurance Policies: Up to 75% of the Value<\/p>\n

Savings Bonds: Up to 75% of the Value<\/p>\n

Kisan Vikas Patras: Up to 75% of the Value<\/p>\n

National Savings Certificates: Up to 75% of the Value<\/p>\n

Andhra Bank Loan Against Mortgage of Securities Processing Fee and Documentation Charges:<\/strong> 1.00% of the Loan Amount or Sanctioned Credit Limit (Minimum Rs. 300 plus GST)<\/p>\n

Maximum Tenure for the Andhra Bank Loan Against Mortgage of Securities:<\/strong> Maximum Loan Tenure is 60 Months (This is reviewed and renewed annually)<\/p>\n

Yearly Renewal Charge for the Andhra Bank Loan Against Mortgage of Securities:<\/strong> 0.50% of the Loan Amount or Sanctioned Credit Limit (Minimum Rs. 243 Maximum Rs. 5,000 plus GST)<\/p>\n

Andhra Bank Loan Against Mortgage of Securities Pre Closure Charges or Prepayment Penalty:<\/strong> Nil Charges or Penalty<\/p>\n

Minimum Age Limit for Getting the Andhra Bank Loan Against Mortgage of Securities Sanctioned:<\/strong> Minimum Age 21 Years at the Time of Loan Commencement<\/p>\n

Charges for Andhra Bank Loan Against Mortgage of Securities Ovedue:<\/strong> Minimum 2% Per Month of the Andhra Bank Loan Against Mortgage of Securities Outstanding Amount<\/p>\n

Security Requirement for the Andhra Bank Loan Against Mortgage of Securities:<\/strong> Pledge of Adequate Value of Securities and Equity Shares in Dematerialised Form from the Approved Scrips List<\/p>\n

Guarantor Requirement for the Andhra Bank Loan Against Mortgage of Securities:<\/strong> No Guarantor is Required<\/p>\n

Andhra Bank – Deposits and Loans Interest Rates<\/strong><\/a>
\nCurrent Deposits and Loans Interest Rates of Andhra Bank<\/p>\n","protected":false},"excerpt":{"rendered":"

Andhra Bank has decreased its loan against securities interest rates by 0.25%, or 25 basis points with effect from Monday, September 11, 2017. This interest rate cut will reduce the cost for those people who want to avail loan against mortgage of their securities.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[148,155,160,47,56],"class_list":["post-185","post","type-post","status-publish","format-standard","hentry","category-banking","tag-andhra-bank","tag-andhra-bank-interest-rates","tag-andhra-bank-loan","tag-current-interest-rates","tag-loan-against-securities-interest-rates"],"_links":{"self":[{"href":"https:\/\/www.theteamwork.com\/finance\/wp-json\/wp\/v2\/posts\/185","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.theteamwork.com\/finance\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.theteamwork.com\/finance\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.theteamwork.com\/finance\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.theteamwork.com\/finance\/wp-json\/wp\/v2\/comments?post=185"}],"version-history":[{"count":0,"href":"https:\/\/www.theteamwork.com\/finance\/wp-json\/wp\/v2\/posts\/185\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.theteamwork.com\/finance\/wp-json\/wp\/v2\/media?parent=185"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.theteamwork.com\/finance\/wp-json\/wp\/v2\/categories?post=185"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.theteamwork.com\/finance\/wp-json\/wp\/v2\/tags?post=185"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}