Andhra Bank Home Loan

• Age 21 to 65 years.
• Repayment maximum 20 years.
• 75% of cost of construction OR 85% of Registration value for outright purchase as loan
• Purchase of House: Age of independent house should not be more than 25 years.
• Age of the flat should not be more than 20 years.
• No guarantee / co obligation.

• Maximum 48 times monthly gross income
• Latest salary certificate and 3 years IT returns
• Certificate from the employer regarding leftover service
• Estimates and other related approved documents
• Subject to 30% take home pay.

Home Loan for Agriculturists, Business & Self-employed persons

• For  Agriculturists, four times of  gross annual income as per certificate issued by  the  competent  Revenue Authority, supported by evidence of  land  holdings
• 4 times the gross annual income (48 times of monthly income)
• Income Tax Returns
• Auditor Certificate
• Estimates and other related approved documents

• Property statements of applicants and coobligant.
• Location sketch of the proposed house/flat.

IN CASE OF PURCHASE:

• Agreement for sale between vendor and purchaser
• Name and address of the vendor and purchaser
• Copies of prior documents of title to the property in possession of the vendor along with tax receipts
• Authorization letter to receive original title deeds on registration from Registrar of Assurances.
• Receipt of delivery issued by Registrar of Assurance to deliver the original title deeds.
• Original receipts for the payment to builder/vendor.
• Copy of the approved plan and a letter from the vendor about the age of the house/flat.
• Certificate from the Approved Engineer about the present value, condition and life of the house/flat.
• Original deed of conveyance of land, conveying the individual / proportionate share of land along with agreement for construction.
• Lay out approval plan

IN CASE OF CONSTRUCTION:

• Copy of the approved plan.
• Detailed estimate of construction.
• Allotment letter of the house / flat issued by the Housing Board.
• Copy /original title deeds of the sight
• Development Agreement between the owner of the site and builder.
• Nil Encumbrance Certificate
• Any other document stipulated by Legal Advisor / sanctioning authority