Central Bank Personal Loan 2024 details can check online. Dear readers as we know all banks provide personal loans to meet expenses. But the difference is there about the return process and interest rate. Therefore the Central Bank of India provides personal loans at the nominal interest rate. CBI Bank offers personal loans at 12% per annum onwards for loan amounts up to 15 lakh for 7 years.
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Central Bank Personal Loan 2024
As we know there is some difference between a personal loan for salaried persons, self-employed, and pensioners. So the Central Bank of India offers PL @ 12% p.a. onwards. The loan amount is 15 lakh for 7 years. Also, CBI provides personal loans for pensioners under the scheme i.e. “Cent Pensioners @ 10.95% p.a. Central Bank Personal Loan Apply Online You have to read the complete process related to the online application, eligibility criteria, and documents required before starting applying online for Central Bank Loan.
Central Bank Loan Interest Rate
The Central Bank of India Personal Loan Highlights –
| Loan Amount | Up to 15 lakh |
| Interest Rate | 10.95% to 12% |
| Time-period | 7 years |
| Processing fee | Up to 1% of the loan amount |
Central Bank Personal Loan Apply Online – The Central Bank of India offers personal loans at a nominal interest rate. 12% for cent personal loans and 10.95% for cent pensioners.
| Bank | Central Bank of India |
| Loan | Personal Loan and Cent Pensioner Loan |
| Amount | Up to Rs 15 lakh |
| Interest Rate | 10.95% to 12% p.a. |
| Application | Central Bank Personal Loan Application |
| Page | centralbankofindia.co.in |
Central Bank Personal Loan Types
Cent Personal Loan scheme
- Purpose Regular PL scheme to meet the domestic or personal financial meet of the applicant
- Loan amount – Approx 20 times of gross salary to max Rs 15 lakh. As per need, minimum net home takes pay at least 40% of the gross salary of the applicant. EMI of other loans also affects the principal amount of the loan.
- Time period (tenure) – Loan amount should be repaid in 7 years
- Processing fee – As per the concerned bank guidelines 1% of the loan amount is considered a processing fee. Nil for defence personnel.
Cent Pensioners Loan
Central Bank Loan for Pensioners
- Pension loans are mainly provided to pensioners to meet personal requirements other than speculative purposes, investments or other activities.
- Tenure – Up to five years
- Loan amount – 18 times of monthly pension subject to minimum limit and up to 10 lakh.
- The processing fee is nil for pension holders.
Central Bank Personal Loan Eligibility
Applicants must be permanent employees of State or Central Government, Hospitals, Schools, Municipal Bodies, Railways, with 1 complete year of service.
Candidates from permanent job holders of Indian companies or MNCs with at least three years of service can also apply for the loan.
For pensioners – Applicant or family drawing pension through the Central Bank of India.
Apart from that the bank also checks the credit score or monthly income of applicants to evaluate loan eligibility.
Central Bank Personal Loan Documents Required
Fewer documents are required for the CBI Personal Loan
ID proof – Photo ID proof like PAN Card, Driving license, Passport, Voter ID Card, Aadhar Card, and others.
Income Proof – Bank Account Statement, Salary Slips, ITR Form 16, and others.
Address proof – Bank account statement, ration card, DL, Electricity bill, Telephone bill, sale deed, property purchase, or aadhaar card
Key factors to know before applying online for a personnel loan
- Compare interest rates, charges, processing fees, and other basic factors before you apply for a personal loan to get the best deal.
- Always evaluate the complete cost of the loan.
- Check CBIL or credit score from time to time because a low credit score may cause the rejection of a loan.
- Always get a loan as per your need only not just because loans easily available to avoid extra financial burden.
How to apply for a Central Bank Personal Loan?
You can apply for a personal loan by visiting the nearest branch of the Central Bank of India. You must carry all required documents along with you. It leads to quick processing and getting loan in less time.
- Also, applicants can apply online by visiting the official website of the Central Bank of India.
- Click on the link and search for Apply for Personal Loan.
- Complete the primary registration process and create a login ID
- Login with your credentials and read all instructions.
- Open the Personal Loan Application link enter all required details and upload documents.
- Submit all details and the bank will inform you after the completion of the verification process.
- After verification applicant can accept the offer and the loan amount is directly transferred to their bank account.
FAQs
Q – Does the Central Bank Offer pre-approved instant loans?
No, the Central Bank of India does not offer any pre-approved personal loans.
Q – At what credit score can I avail Central Bank Personal Loan?
CBI does not specify any cutoff related to Credit scores for personal loans. Candidates with 750 or more credit score are higher chances to get personal loans at nominal interest rates.
Q- What are personal loan interest rates Central Bank?
Personal loan interest rate lies between 10.95% to 12% p.a.
सेंट्रल बैंक लोन की ब्याज दर क्या है? सेंट्रल बैंक ऑफ़ इंडिया पर्सनल लोन 10.95% से लेकर 12% सालाना ब्याज दर पर 15 लाख का लोन 7 साल के लिए देता है. सेंट्रल बैंक पर्सनल लोन के लिए आवेदन कैसे करें? सेंट्रल बैंक पर्सनल लोन आवेदन के लिए आप निकट बैंक शाखा में जा सकते हैं. या आप वेबसाइट या मोबाइल एप्प के माध्यम से आवेदन कर सकते हैं.
| Official page | Check loan eligibility |
| Personal Loan details | Read online |
| Home Page | Click here |