Central Bank home loan interest rate ranges from 6.85% p.a. to 7.10% p.a. with a maximum loan tenure of 30 years. You can avail Central Bank housing loan amount of up to 90% of the property value for loans up to Rs.30 lakh. The processing fee charged by Central Bank for its home loans is 0.50% of the loan amount, subject to a maximum of Rs.20,000. The bank offers a maximum of up to 36 months as the moratorium period. As part of its home loan, the Central Bank of India extends loan towards repairs/renovation/alteration of existing house/purchase of plot.
Central Bank of India offers different home loan schemes at attractive rates of interest. The loan amount can be used for purchase of flats, construction of a new house, buying your third or fourth residential property, etc.
|Loan Amount||Upto 90% of the cost of the home|
|Processing Fees||0.50% of the total loan amount subject to a maximum sum of Rs.20,000.|
|Penal Interest Rate||-|
|Max Tenure||30 Years|
|Rate Packages Available||Floating|
Compare: Home Loan Interest Rate all Banks
Know more about the home loan fees and charges before you apply for a loan.
The bank offers floating rates of interest with its home loan schemes. Contact your nearest Central Bank of India to know more about the interest rates offered by the bank.
|Central Bank Home Loan Schemes||Interest Rate|
|Cent Home Loan||6.85% p.a. to 7.10% p.a.|
|Cent Home Loan Double Plus||7.10% p.a. to 11.35% p.a.|
|Cent Home Loan to employees||Contact the bank to know more|
|Cent Combo||Contact the bank|
|Cent Home Loan scheme for purchasing 3rd or 4th House/Flat||8% to 8.10% p.a.|
Central Bank of India offers a wide range of housing loans such as the Cent Home Loan, Cent Home Loan to employees, Cent Combo, Cent Home Double Plus scheme and Cent Home Loan scheme for purchasing 3rd or 4th house/flat.Key Highlights
You can ascertain your future mortgage EMI amount by using the Home Loan EMI Calculator available on the BankBazaar website. You will be asked to enter a few details such as the loan amount, the tenure of the loan, the interest rate, and the processing fee to calculate the EMI.
Once you have entered the required parameters, the EMI will be calculated instantly. You can also see a detailed amortisation table that will help you understand how your EMI amount is posted towards principal and interest repayment on a monthly and yearly basis.
|Minimum age of the applicant||18 years|
|Maximum age of the applicant||70 years|
|Residency status||Residents of India/Non-residents of India (Depending on the type of loan)|
|Type of employment||Salaried/Self-employed|
Generally, when you apply for a housing loan, you will be required to submit the below documents:
|Any one identity proof||Copy of valid passport/ PAN Card/ Driving license/ Election Card/ Aadhaar Card|
|Any one address proof||Aadhaar Card/ Copy of utility bills/ Voter ID/ Driving license/ Copy of valid passport|
|Proof of income||Latest Form 16 or Income Tax (IT) Returns/ Recent salary slips|
|Other documents (Not all documents are mandatory. The bank will give you a list of all the mandatory documents)||Valuation certificate issued by the approved valuer/ NOC from the housing society/ Agreement for construction with Develop/Builder/ Sale agreement/ Original property title deeds/ Approved construction plan|
Introduced in 2015, the Pradhan Mantri Awas Yojana is a scheme offered by the Government of India. The scheme aims at providing affordable housing schemes to the urban and rural poor population in the country.
Central Bank of India offers housing loans for eligible applicants under the Pradhan Mantri Awas Yojana. The Credit Linked Subsidy Scheme (CLSS) under this scheme provides interest rate subsidy for eligible applicants. Depending on the income group the applicants fall under, the subsidy may range from 3% to 6.50%.Benefits
The benefits of this scheme depend on the income category of the beneficiary. The eligible categories are:
No. Central Bank of India does not charge a prepayment penalty on floating rate housing loans.
You can reach the Central Bank of India customer service by dialing 1800 22 1911. This is a toll-free number available 24/7.
Yes. Based on your eligibility, the bank offers a top-up loan as an overdraft facility. The minimum loan amount is Rs.2 lakh and the maximum amount is Rs.5 lakh.
Yes. You can transfer your current housing loan from another lender to Central Bank of India. Get in touch with the bank to know more about the terms and conditions and charges involved.
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