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Andhra Bank- AB Anand JeevanAndhra Bank Anand Jeevan (Reserve Mortgage Scheme) ensures the comfortable life of a senior citizen that too without depending anyone. Andhra Bank offers a pensioners loan named as AB Anand Jeevan for senior citizens to convert their dwelling - house property into liquid cash flow to supplement income. Purpose of Loan: • AB Anand Jeevan is mainly for supplementing pension or existing income. • Another purpose of this loan is to meet various expenditures related to his or her family, medical emergency etc. • Repayment of any existing mortgaged loan for residential property also meet by this pensioners loan. • For the purpose of up gradation, renovation or extension or insuring residential property. Eligibility: • The person who is apply for this loan must be an Indian resident. • The person apply for this loan must be a senior citizen ie; above 60 years old. • The mortgage property must be a residential house or flat owned by himself. • Property might be self acquired and self occupied as permanent primary residence and free from Encumbrance. • Residual life of property should be at least 20 years. I• n the case of joint borrowers, one of them will be above 60 years of age and spouse/joint borrower should be more than 55 years of age. • Commercial property is not eligible for this loan scheme. Quantum of Loan: Nature of Payment: Interest Rate of Loan: Repayment of Loan: For more information: Visit |