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  Dividend declared for 2018-2019 financial year @ 9.50% on Members Share Capital   ;    "Interest rate on Medium Term Loan and Contingent Loan is revised from 10.50% p.a. to 10.00% p.a. w.e.f. 01-04-2020"

Medium Term Loans

How to become Member?

1.All confirmed staff members of Andhra Bank and also share holders of the Bank are eligible for a Medium Term Loan of Rs.1,00,000/- maximum. Part time sweepers are eligible proportionately as per their scales.

2.10% of the loan amount shall be collected as share capital (rounded off to next higher digit to be divisible by 10) which will be refunded at the time of retirement or Resignation/VRS from Andhra Bank and after six months in the case of closure of membership, while continuing as staff member of Andhra Bank.

Rate of Interest:
Interest @ 10.5% p.a., on diminishing balance shall be calculated and debited to the respective loan accounts at the end of every month.
(Revised from 10.50% to 10.00% w.e.f. 01.04.2020)

Construction of House or purchase of flat or Repairs/Renovation/Additions to the existing house and/or any other domestic need like Medical/Ceremonial/ Consumption. 

Maximum of 60 monthly installments or the left over service of the borrower whichever is lower, commencing immediately after disbursement. 


Members' are eligible to renew their loan subject to the condition that such member had repaid 1/3rd of the number of installments (in normal course) opted for repayment. The Board may specifically waive this stipulation, whenever the limit is revised upwards.

Monthly installment received in respect of closed loans or after the renewal of such loan / loans shall be credited to new loan account/thrift deposit account, but in no case such installment shall be refunded.

Other Terms and Conditions:
1.A sum of Re.1/- per 1000/- of loan sanctioned with a minimum Rs. 50/- along with applicable service tax shall be collected as Processing charges
2.The loan is covered by Member Mutual Benefit Fund scheme.
3.Members shall contribute towards MMBF scheme, every month as noted below during the currency of the loan for availing the benefit under the scheme.


Loan amount up to Rs. 50, 000

Rs.25/- p.m.,


Loan amount above Rs 50, 001/- & Up to Rs. 75, 000/-

Rs.40/- p.m.,


Loan amount above Rs. 75, 000/-

Rs.50/- p.m.,


Part Time Sweepers, irrespective of limit

Rs.10/- p.m.,

4.Members have to apply for loan by submitting prescribed loan application form, duly filling in all required columns along with original/ attested copy of the latest pay slip. Loan shall be sanctioned subject to the sufficient net salary to recover the installment of the proposed loan to be sanctioned. Members whose existing loans are not in order are not eligible for the loan/renewal of existing loan.