Hello dear readers, hope you are doing well, today we will know about How to get Central Bank of India Home Loan, Eligibility, Interest Rate, EMI Calculator, Minimum Salary, Civil Score and more details that we read in this article please read till the last.
If you are thinking of building a house and you are short of money then you Central Bank of India can be linked with home loan. home loan comes under the category of secured loan. To take this loan, the customer has to give some security to the bank.
Like other banks, Central Bank of India also provides Home Loan provides. You have to apply to take this loan. The customer can apply for Central Bank of India Home Loan both online and offline.
In this article, we will know what is Central Bank of India Home Loan, interest rate of this loan, documents, eligibility and how we can apply for this loan, etc., so read this article till the end.
Central Bank of India Home Loan
Anyone can take a home loan to build a house, buy a house or renovate a house. Central Bank of India Various types Home Loan Schemes offers to customers.
All The interest rate and loan amount of the home loan scheme can be different. The amount of the loan is due to many factors of the applicant such as that of the applicant. CIBIL Score depends on income, age, place of residence etc. If the applicant has more repayment capacity and income and the applicant can get a home loan up to a higher loan amount.
Customer from Central Bank of India Prime Minister’s Housing Scheme (PMAY) You can get subsidy on home loan under Central Bank home loan interest rate starts from 6.95% p.a. Central Bank of India Home Loan The loan tenure is up to a maximum of 30 years. The processing fee of this home loan is 0.50% of the loan amount + GST subject to a minimum of Rs. 2500 and a maximum of Rs. 20,000.
If you belong to Central Bank of India personal loan If you want to take advantage of this then you can click on this link Central Bank of India Personal loan You can take advantage of this personal loan by clicking on
Key Features of Central Bank of India Home Loan
- Loan Name: Central Bank Of India Home Loan 2024
- Name of the lending bank: Central Bank of India
- Loan Amount: Up to 90% of the property value
- Loan tenure: 30 years
- Interest Rate: Starting from 6.95% pa
- Processing Fee: 0.50% of the loan amount + GST, Minimum – Rs 2500, Maximum – Rs 20,000
- Application Mode: Online / Offline
- Official Website : https://www.centralbankofindia.co.in/
Central Bank of India Home Loan Interest Rate 2024
Central Bank of India home loan interest rate starts from 6.95% p.a. Before taking a personal loan, we should Personal Loan Interest Rate Similarly, before taking a home loan, we need to know about Home Loan Interest Rate. It is necessary to have information about If you apply for that loan without knowing the exact interest rate of the loan, then you may have to face problems at the time of repayment of the loan.
Loan Quantity and Margin:
salaried For Customer:
- 90% of the cost of loan up to Rs.30 lakh
- 80% of the cost from 30 lacs to 75 lacs
- % of the cost of loan above Rs.75 lakh
- 75% of the cost of repair, renovation, extension of existing house, flat, subject to a maximum of Rs.10 lakh.
- 75% of the cost after meeting the eligibility criteria of EMI/NMI ratio
- plot The cost of the housing unit should not exceed 75% of the total cost.
For non-salaried borrower:
- 80% of the cost of loan up to Rs.75 lakh
- % of the cost for loans above Rs.75 lakhs
- 75% of the cost of repair, renovation, extension of existing house, flat, subject to a maximum of Rs.10 lakh.
- 75% of the cost after meeting the eligibility criteria of EMI/NMI ratio
- plot The cost of the housing unit should not exceed 75% of the total cost.
Loan Quantum – Based on the net annual income and repayment capacity of the applicant based on EMI/NMI ratio. You can easily understand the EMI/NMI ratio on the basis of net annual income from the table given below:
| Annual Income | EMI/NMI Ratio (Max) |
| 1.20 lakh | 20% |
| 1.20 lac to 3 lac | 30% |
| 3 lakh to 5 lakh rupees | 55% |
| 5 lakh to 8 lakh rupees | 60% |
| 8 lakh to 10 lakh rupees | 65% |
| Rs.10 lakhs | 66.67% |
Central Bank Of India Home Loan Types
This bank offers various types of home loans which are as follows:
- Cent Home Loan
- Saint Grih Lakshmi Lakshmi )
- Cent Home Double Plus Scheme
- Cent Home Loan Scheme for purchasing 3rd or 4th house/flat
- Topup Facility To Cent Home Loan Beneficiaries
Cent Home Loan :
- This Loan You New House / Flat For purchase, construction or repair/renovation/transformation of existing house/flat.
- should be 18 years while applying.
- NRI You can also apply for this home loan.
- Loan Quantum – Based on the net annual income and repayment capacity of the applicant based on EMI/NMI ratio.
- The loan tenure of this loan is maximum 30 years. In case of repair, renewal it is 10 years.
- CIBIL Score of the customer should be very good.
- Moratorium period: Maximum 24 months.
St Gruha Lakshmi Home Loan:
- Only female customer or first designated customer can apply for this loan.
- For CIBIL/CRIF the CIBIL score should be 725 or above.
- The CIBIL score for Experian should be 750 or above.
- If women are the prime borrowers, then they will be given EMI waiver. The number of EMIs to be waived are as follows:
- Loan Tenure of 30 Years – 5 EMIs
- Loan Tenure of 25 Years – 4 EMIs
- Loan Tenure of 20 Years – 3 EMIs
- can also get subsidy on home loan under Pradhan Mantri Awas Yojana ( PMAY).
- Retail Festival Bonanza – 2021, the processing fee on this loan has been waived till 31.12.2021.
St. Home Double Plus Plan:
- This home loan is divided into two main parts:
- Home Loan With Overdraft Facility
- Home loan for other purposes like home renovation, repair, marriage, travel, vacation etc.
- You can avail this loan for the construction of an existing house/flat. for or for their extension.
- Any individual salaried employee, self-employed person, professional person can apply for this home loan.
- should be 18 years while applying.
- Moratorium period: Maximum 36 months.
- Salaried individuals do not have to give any guarantee for the loan amount up to Rs 20 lakh.
Cent home loan scheme for buying 3rd or 4th house/flat:
- This loan can be taken for buying or expanding a new house, flat or for expansion of an existing house.
- The house or flat should not be more than 40 years old.
- Any person can apply for this loan.
- Loan Quantum – Depending on the repayment capacity of the borrower and the value of the property.
Margin:
For Salaried Customers:
- 30 lakh:
- 10% for construction / purchase of new or existing flat / extension of existing house or flat
- 25% for repair/refurbishment/change subject to maximum of Rs.10 lakhs
- 25% for purchase of plot
- For loan of Rs.30 lakh to Rs.75 lakh:
- 20% for construction of new or existing flat or house / extension of existing house or flat
- 25% for purchase of plot
- For loans above 75 lakhs:
- 25% for construction / purchase of new or existing flat or house / extension of existing house or purchase of flat / plot
For non-salaried customers:
- Rs.75 lakhs:
- 20% for construction of new or existing flat or house / extension of existing house or flat
- 25% for repair/renovation/change of existing house or flat, subject to maximum of Rs.10 lakh
- 25% for purchase of plot
- Rs.75 lakhs:
- 25% for construction / purchase of new or existing flat or house / extension of existing house or purchase of flat / plot
Central Bank of India Home Loan Eligibility
If you are eligible for Central Bank of India Home Loan then only you can apply for this loan. Central Bank of India offers various types of home loan schemes. Everyone’s eligibility may also be different. But the general eligibility to apply for this loan is as follows:
- Applicant’s minimum age should be 18 years to apply.
- Maximum age 75 years
- Both residents of India and non-residents of India can apply for this loan.
- Anyone can apply for a salaried and self-employed loan.
- The credit score of the application should be good.
Central Bank of India Home Loan Documents Required
Before applying for the loan, you should keep all the documents together so that whenever the bank asks you for the documents, you can show them all the documents immediately. You can also get information about documents by visiting your nearest Central Bank of India branch. To apply for a Central Bank of India home loan, you must have the following documents:
- Identity Proof (Passport/PAN Card/Driving License/Aadhar Card/Voter ID Card)
- Address Proof (Voter ID Card / Aadhar Card / Copy of Utility Bills / Voter ID / Driving License / Valid Passport)
- Income Proof – Latest Form 16 or Income Tax (IT) Return / Recent Salary Slip
- Bank statement
- property title document
Central Bank of India Home Loan Apply
If you fulfill all the conditions of this home loan then you can apply for this loan both online and offline. Information about the process of applying is given here:
Central Bank of India Home Loan Apply Online
- To apply online, you must first visit the official website of Central Bank of India. centralbankofindia.co.in But have to come
- website home page Apply For Retail Loan Click on this option will appear.
- After clicking on this link, you will be taken to the next page Retail loan Click on this option will appear.
- After coming to the new page, you will see the option of Apply for Loan, click on it.
- On the next page, you will see two options Yes and No.
- If you are an existing customer of the bank then you have to click on yes and if you are a new customer you have to click on no.
- Then the application form will open in front of you.
- Enter the information asked in the form correctly and submit the form.
- submitting the form, the representative of the bank will contact you and the loan process will be issued further.
How to apply offline ?
- To apply offline, you have to first go to your nearest Central Bank of India branch.
- You have to contact the bank employee by going to the bank branch.
- The bank employee will provide you all the information related to the home loan.
- After that your documents will be verified.
- Then you will be given the loan application form.
- You have to fill this form, attach your documents and submit it on the same.
- If you fulfill all the conditions of the bank’s home loan, then your loan will be approved and the loan amount will be transferred to your bank account.
Home Loan Fees and Charges
- Processing Fee – 0.50% of the loan amount + GST, Minimum – Rs 2500 and Maximum Rs 20,000.
- Documentation Fee – Rs 1350 + GST
How to check Central Bank of India Home Loan Status ?
- To check the status of your application, you have to first visit the official website of Central Bank of India.
- Apply For Retail Loan will appear on the home page of the website, click on it.
- the next page select Retail loan.
- After coming to the new page, you will see the option of Track Status, click on it.
- On the next page, you can track the status of your application with the help of your reference number.
Central Bank of India Home Loan EMI Calculator
Before applying for a home loan, you should calculate the EMI (Equated Monthly Installment) of your loan so that you can get an idea of how much you will have to pay at the time of loan repayment. You can visit the official website of Central Bank of India Home Loan EMI Calculator With the help of this you can calculate the EMI of your loan. Loan EMI depends on three main factors – loan amount, loan tenure and interest rate. If you do not calculate the EMI of your home loan before applying for the loan, then you may face difficulties at the time of repayment of your loan.
Central Bank of India Home Loan Customer Care Number
If you want to get other information about this loan, then you can get more information by calling on the Central Bank of India Home Loan customer care number.
Toll Free Number: 1800 22 1911
Conclusion:
In this article we have given you “Central Bank of India Home Loan” Tried to give complete information about Any person who wants to take a home loan can join Central Bank of India Home Loan.
You can also get subsidy on home loan under the Pradhan Mantri Awas Yojana of the Government of India.
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FAQs on Central Bank Of India Home Loan
How much home loan can Central Bank of India take ?
You can take loan from 75% to 90% of the cost of construction.
For what tenure can I take a Central Bank of India home loan ?
The loan tenure of this loan is maximum 30 years.
What is the processing charge on Home Loan of Central Bank of India ?
0.50% of loan amount + GST
What is the home loan interest rate in Central Bank of India ?
Interest rate starts from 6.95% p.a.