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When you are ready with your sufficient funds that are required to close your personal loan, then it is the right idea as it will help you in not only bringing down your burden but also save the interest money that you pay. There are simple steps and procedures that will enable you to close your Andhra Bank Personal Loan. Closing your Personal Loan also reflects that you plan very responsibly and are good at managing your financial aspects of your day to day life.
Close an Andhra Bank Personal Loan through Creditseva
Choosing to pre-pay your personal loan helps to decrease your burden and helps you avoid paying an interest for the outstanding loan amount. It is a sense of relief to close your personal loan and for its successful closure, you can choose us. At Creditseva our team with experience and expertise helps you in closing your personal loan in a simple and easy way.
Let us now understand the procedure for Closing Andhra Bank Personal Loan
Very few banks provide the procedure related to closure of Personal loan in their bank’s website.
However following is the procedure:
You should visit the Andhra Bank branch from where you have acquired the loan and fill the form as provided by the bank regarding Personal Loan Closure with all necessary details.
You should also submit a letter in writing to the Bank communicating that you want to close your Andhra Bank Personal Loan.
Important things to keep in mind before Closing Andhra Bank Personal Loan
From your side, the priority thing is to clear all the dues that are outstanding on your Personal Loan.
It is also important that you cross check for pending dues if any before you opt for Andhra Bank Personal Loan Closure.
Andhra Bank does not levy any charges related to Pre-closure of Personal loan.
Take an acknowledgement from the bank when you fill the forms and also when you submit all the documents.
Avoid the following mistakes that may happen while closing an Andhra Bank Personal Loan
During the mid-term of the cycle related to repayment of every month, there is an often confusion among the individuals who opt to close Andhra Bank Personal Loan regarding the amount of interest rate that has to be paid when you are closing your personal Loan. You have to contact the bank officials so that they will specify the amount that has to be paid by you.
If you have moved to another state or city then you should provide the present address where you are residing so that all the related documents like NOC (after closing the loan from Andhra Bank) can be sent to you without any confusion.
Take care of following aspects while closing your Andhra Bank Personal Loan
You should never miss mentioning your Personal Loan account and CIF number.
When you submit your letter regarding Andhra Bank Personal Loan Closure through a mail or an email, you should never miss your scanned photo and ensure that the letter has reached the concerned branch manager.
Below is the sample letter requesting Andhra Bank Personal Loan Closure
The Branch Manager,
Address of the Concerned Andhra Bank Branch (This is the Bank’s Branch where you had taken the Loan)
I am (Your name) have been bearing a Personal Loan with an Account Number. I want to here by communicating that I want to close my Personal Loan that was taken on …….date. For any queries related to this personal loan account please contact me.
Your Contact Number
Your Email Id
Your Contact Address.
Sample Letter 2 for Andhra Bank Personal Loan Closure
Address of the Concerned Andhra Bank Branch
Subject – Closure of Andhra Bank Personal Loan
I (your name) want to close my personal loan at the earliest. I am providing all the documents that are necessary to close my Personal Loan. I request you to send all the documents that I had provided at the time of Loan application.
Following are my details
Personal Loan Account Number
Your email Id
Your Residential address
For any queries please contact me.
Andhra Bank Personal Loan Closure FAQ’s:
1. Is there any Part-prepayment facility for my Andhra Bank Personal Loan?
No, this feature of part prepayment is not present.
2. Can I use net banking or cash to pre-close my loan account?
Based on the instructions and procedure you can either pay by cash, Net Banking, cheque or demand draft.
3. Why obtaining NOC is so important after closing your Personal loan successfully?
Obtaining an NOC (No Objection Certificate) from the banker not only proves that you have cleared the entire amount that is outstanding but it also reflects this in your CIBIL or credit score. Failing to obtain NOC may decrease your CIBIL or credit score.
4. How much time does the Bank take to send a confirmation related to Pre-Closure?
To receive confirmation related to pre-closure, it may generally take 15 days of time.
5. If you have not received the confirmation related to pre-closure what should I do?
You must follow up by an email or contact the branch directly with the acknowledgement receipt related to pre-closure of Andhra Bank Personal Loan.
6. What will happen if my upcoming EMI is about to arrive during the process of my Loan Closure?
Though your next EMI is about to arrive, still your request related to Loan application will be processed.
7. After closing your Andhra Bank Personal Loan what should you check?
You have to check your Credit Score or CIBIL score after closing your Personal Loan to ensure you don’t find any errors. This checking of credit score will help you if you are planning to take any other loans in the future.
8. Generally when is NOC (No Objection Certificate) issued after closing my Personal Loan?
You may receive the NOC within 15 days of time if your personal loan is foreclosed successfully.
9. Are there any prepayment charges when you close your Andhra Bank Personal Loan?
The Prepayment Charges are Nil when you are closing your Personal Loan.
Personal Loan Closure By Banks
- Personal Loan Closure
- Axis Bank Personal Loan Closure
- Andhra Bank Personal Loan Closure
- HDFC Bank Personal Loan Closure
- ICICI Bank Personal Loan Closure
- SBI Personal Loan Closure
- Citibank Personal Loan Closure
- Bank of Baroda Personal Loan Closure
- Capital First Personal Loan Closure
- Allahabad Bank Personal Loan Closure
- Fullerton Personal Loan Closure
- IDBI Bank Personal Loan Closure
- IndusInd Bank Personal Loan Closure
- Standard Chartered Bank Personal Loan Closure
- Tata Capital Personal Loan Closure
- Union Bank Personal Loan Closure
- Bajaj Finserv Personal Loan Closure
- Kotak Bank Personal Loan Closure
- Yes Bank Personal Loan Closure
- SBH Personal Loan Closure
- HSBC Personal Loan Closure
- Oriental Bank Personal Loan Closure
- RBL Bank Personal Loan Closure
- PNB Personal Loan Closure
- J&K Bank Personal Loan Closure
- IOB Personal Loan Closure
- Karur Vysya Bank Personal Loan Closure