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    Central Bank of India Home Loan

    Central Bank home loan interest rate begins from 8.55% 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. 

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    We found 1 Central Bank of India Home Loan
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    8.30% Floating
    0.5% (max. ₹20,000) One time fee
    20L - 75L
    30 Years
    Response Time : Within 30 minutes
    What you'll love
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    Central Bank of India offers a wide range of housing loans such as the Cent Home Loan, Cent Home Loan Plus, Cent Home Loan to employees of Central State Govt PSU, and Cent Home Double Plus Scheme. The 1-year MCLR offered by the bank is 8.60% p.a. and the tenure of housing loans can go up to 30 years.

    Central Bank of India Home Loans Scheme

    Cent Home Loan

    Key Highlights
    • Get up to 90% of the value of the house up to Rs.30 lakh.
    • Applicants from 18 years of age can avail this loan.
    • Non-resident Indians are also eligible to apply.
    Applicant category Interest rate (p.a.) Processing fee
    Individuals/Group of Individuals/NRIs/Cooperative Societies 8.60% onwards 0.50% of the loan amount (max. Rs.20,000+tax)

    Cent Home Loan Plus

    Key Highlights
    • For existing borrowers who have promptly paid their mortgage EMIs for a minimum of 3 years.
    • Maximum loan amount of Rs.10 lakh.
    • Loan repayment period up to 10 years.
    Applicant category Interest rate (p.a.) Processing fee
    Existing housing loan borrowers 8.60% (for renovations) 1% more on existing rates (for refurbishment/purchasing TV, furniture, etc. Rs.500 for each loan

    Cent Home Loan to Employees

    Key Highlights
    • All permanent Central Bank of India, State Governments, and PSUs of Central Government are eligible.
    • No guarantor required.
    • Processing fees waived if employers hold a salary account with the bank.
    Applicant category Interest rate (p.a.) Processing fee
    Permanent employees of Central Bank of India, State Governments, and PSUs of Central Government 8.60% onwards 0.50% of the loan amount (max. Rs.20,000+tax) Waived on maintaining a salary account with the bank

    Cent Combo Scheme

    Key Highlights
    • A concession is given if housing loan and vehicle loan are availed together.
    • Applicants with a minimum annual income of Rs.4 lakh in the last two years as reflected in their IT Return can apply.
    • The maximum loan amount is Rs.40 lakh.
    Applicant category Interest rate (p.a.) Processing fee
    All applicants

    Home Loan: Concession of 0.25% across loan slabs (min. MCLR will be applicable)

    Vehicle Loan: Concession of 0.5% across loan slabs (min. MCLR will be applicable)

    MCLR: 8.60% onwards

    0.25% of the entire loan amount (max. Rs.20,000+tax)

    Cent Home Double Plus Scheme

    Key Highlights
    • Can be availed as an overdraft facility or as term loan depending on the purpose.
    • Applicants above 18 years of age can apply.
    • Repayment period up to 30 years.
    Applicant category Interest rate (p.a.) Processing fee
    All applicants 8.60% onwards 0.50% of the entire loan amount (max. Rs.20,000+tax)

    Cent Home Loan Scheme for purchasing 3rd or 4th house/flat

    Key Highlights
    • Can be availed on house/flat which is not more than 40 years and the remaining life of the property is 10 years more than the repayment period.
    • Can be availed individually or jointly.
    • The repayment period can range from 25 to 30 years.
    Applicant category Interest rate (p.a.) Processing fee
    All applicants 9.60% onwards 0.50% of the entire loan amount (max. Rs.20,000+tax)

    Use BankBazaar Home Loan EMI Calculator to Know Your EMI

    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.

    Central Bank of India Home Loan Eligibility Criteria

    Eligibility criteria Requirements
    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

    Documents Required for All Home Loan Applicants Under Central Bank of India

    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

    Central Bank of India Pradhan Mantri Awas Yojana

    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 of PMAY scheme

    The benefits of this scheme depend on the income category of the beneficiary. The eligible categories are:

    • Economically Weaker Section (EWS)
    • Low Income Group (LIG)
    • Middle Income Groups (MIG –I & MIG – II)
    Category Income bracket Interest subsidy Maximum eligible loan amount for subsidy Maximum subsidy Eligible carpet area
    EWS Up to Rs.3 lakh 6.50% Rs.6 lakh Rs.2.67 lakh 60 sqm
    LIG Rs.3 lakh-Rs.6 lakh 6.50% Rs.6 lakh Rs.2.67 lakh 60 sqm
    MIG- I Rs.6 lakh-Rs.12 lakh 4% Rs.9 lakh Rs.2.35 lakh 160 sqm
    MIG- II Rs.12 lakh-Rs.18 lakh 3% Rs.12 lakh Rs.2.30 lakh 200 sqm

    Central Bank of India Home Loan FAQs

    1. I have a floating rate home loan with Central Bank of India. Will I be required to pay a prepayment fee if I make a lump sum payment?

      No. Central Bank of India does not charge a prepayment penalty on floating rate housing loans.

    2. How do I contact the Central Bank of India?

      You can reach the Central Bank of India customer service by dialing 1800 22 1911. This is a toll-free number available 24/7.

    3. Does the Central Bank of India offer a top-up loan for existing borrowers?

      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.

    4. Can I transfer my existing home loan to Central Bank of India?

      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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    Central Bank of India Home Loan Reviews

    • Central Bank of India Home Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      This Central Bank Of India offered me a Home loan of 8.6 % rate of interest and processing fee was Rs. 33000. I have applied the loan directly and they sanctioned on time.The loan amount was sufficient and documentation process is smooth. I am paying Rs.53000 as monthly EMI.
      Was this review helpful? 3
      , bangalore
      Reviewed on Apr 11, 2019
    • Central Bank of India
      Central Bank of India Home Loan
      "Fast approval loan"
      0.5 5.0/5 "Blown Away!"
      Long back i have taken a home loan from CENTRAL BANK OF INDIA. The rate of interest and charges i have no idea about that .Documentation process is easy and smooth.The loan amount was Rs. 20,00,000 i received the loan amount within a week its a fast approved loan.
      Was this review helpful? 1
      , chennai
      Reviewed on Mar 29, 2019
    • Central Bank of India Home Loan
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      CENTRAL BANK OF INDIA is the bank where i have taken the housing loan with this and i am using it since from last few years and the rate of interest was floating with this loan. They have given the duration for repaying the loan is for 15years. The loan amount was good.
      Was this review helpful? 1
      , jodhpur
      Reviewed on Mar 10, 2019
    • Central Bank of India Home Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      Central Bank of India has offered me good services for the home loan. The process is good and there are no issues in the experience. The rate of interest and processing charges is low when compared to the other banks. In all I have no hassles overall.
      Was this review helpful? 3
      , noida
      Reviewed on Feb 20, 2019
    • Central Bank of India Home Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I have applied for Home Loan and not faced any difficulties since having salary account on Cental Bank of India directly went to bank and applied for the Home Loan and got the sufficient loan amt , The rateof interest is good processing fee is good and no issues on submitting documents as well and the Overall service is good .
      Was this review helpful? 3
      , hyderabad
      Reviewed on Feb 19, 2019
    • Central Bank of India Home Loan
      "Speedy process"
      0.5 4.0/5 "Great!"
      Within 5 days they have done all the process and sanctioned the loan. I bought my home loan from central bank of India. Its a created by Government of India and its a subsidiary of central bank of India hence i have chosen this bank. They have offered me a interest rate of 10.75% and there is no processing fee. I have got the loan amount of Rs 25 lakhs and still 7 lakhs i need to pay.
      Was this review helpful? 2
      , nasik
      Reviewed on Feb 04, 2019
    • Central Bank of India Home Loan
      "Average"
      0.5 3.5/5 "Pretty good"
      I got good rate of interest of home loan through CENTRAL BANK OF INDIA . The loan amount is good but some what i was expecting more . The processing fee is nominal here and they gave sufficient tenure period . Getting the loan through nationalized bank is very difficult it take much time and the process is too lengthy . Branch manager is not so friendly .
      Was this review helpful? 6
      , new delhi
      Reviewed on Jan 19, 2019
    • Central Bank of India Home Loan
      "Average"
      0.5 3.0/5 "Satisfactory"
      I have taken a Home Loan with Central Bank of India before 2 years. The service and response is not okay. I have purchased a residential property. The rate of interest and processing charges are high compared to other. The loan duration is 15 years and completed 2 years till now.
      Was this review helpful? 1
      , bangalore
      Reviewed on Nov 19, 2018
    • Central Bank of India Home Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have taken a home loan with Central Bank of India and my experience was good, the loan amount was based on my requirement and the rate of interest was nominal when compared to others. Customer service was good with this bank and they followed up on time.
      Was this review helpful? 2
      , vadodara
      Reviewed on Oct 08, 2018
    • Central Bank of India Home Loan
      "Good service"
      0.5 4.5/5 "Excellent!"
      My home loan experience was good with CBI, the loan amount was for Rs 12 lakhs with nominal interest rate when compared to other banks. Customer service was good and they followed up on time The tenure period for this loan is 15 years.
      Was this review helpful? 9
      , ghaziabad
      Reviewed on Aug 17, 2018
    • Central Bank of India Home Loan
      "Satisfactory"
      0.5 4.5/5 "Excellent!"
      My home loan was taken with CENTRAL BANK 6 years back. The loan amount was 20 lakhs and the interest rate was satisfactory . The tenure period was 20 years . The manager was very versed and with in half an hour the process git overt. The documentation was very easy since i hold an account here. The processing fee was also very nominal.
      Was this review helpful? 5
      , new delhi
      Reviewed on Jul 25, 2018
    • Central Bank of India Home Loan
      "Very good"
      0.5 5.0/5 "Blown Away!"
      I have applied the loan amount of 19 lakhs and the manager i supposed to get around 26 lakhs. They have offered the amount whatever i expected. They have offered me interest of 8.35% and their is no processing fee for the home loan. They have given some discounts when I'm taking the home loan. I used to pay the EMI of 17,133 per month. I have got the loan on time like within a span of 1 month.
      Was this review helpful? 4
      , kolkata
      Reviewed on Jul 11, 2018
    • Central Bank of India Home Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I took a home loan from the Central Bank Of India for 8.75 lacs, I got the loan with in 10 days. The whole application process was easy and hassle free. Proper documentation was also done in a timely manner. Overall it has been a smooth home loan experience with the Central Bank of India.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Jun 25, 2018
    • Central Bank of India Home Loan
      "Process is excellent"
      0.5 5.0/5 "Blown Away!"
      The process was excellent for the home loan with CBI. I only had to go for one day to the bank to sign the paper work which took an hour to complete. It was very convenient and easy process. The rate of interest was around 9% and the processing charges is normal. The whole process was done in 72 hours.
      Was this review helpful? 1
      , kolkata
      Reviewed on Mar 23, 2018
    • Central Bank of India Home Loan
      "Smooth process"
      0.5 5.0/5 "Blown Away!"
      I have taken a home loan with Central Bank Of India and it has been a smooth process with them. The procedures and process was completed on time and has been hassle free with the services during the term. I have not had any issues throughout the entire process.
      Was this review helpful? 3
      , faridabad
      Reviewed on Nov 15, 2017
    • Central Bank of India Home Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I had taken a home loan from CENTRAL bank the service will be very good the interest rate was 8.5 which is fine compare to market value the customer service was very nice they took only two days to process my loan service it was been a very good experience with CENTRAL bank for my home loan service.
      Was this review helpful? 1
      , raipur
      Reviewed on Oct 29, 2017
    • Central Bank of India Home Loan
      "good service"
      0.5 4.0/5 "Great!"
      I would say the service is good ,even the rate of interest was fine, the process and the representatives are very helpful and responsible, so I can say their service is good from CENTRAL bank for my home loan service till now there is no issue till now.
      Was this review helpful? 2
      , mumbai
      Reviewed on Oct 11, 2017
    • Central Bank of India Home Loan
      "Happy Service"
      0.5 5.0/5 "Blown Away!"
      I had taken the housing loan from Central bank of India. The loan process was simple and there was no hassles with them. I got a good response from the bank and they have completed the process in a good way. I had no issues with Central bank at any instance.
      Was this review helpful? 4
      , bangalore
      Reviewed on Jun 06, 2017
    • Central Bank of India Home Loan
      "Housing loan is too good"
      0.5 5.0/5 "Blown Away!"
      Central bank of India housing loan process is good and customer service is also very good. I had taken loan on time. It was pretty easy for me . I went to the branch they themselves completed all my formalities and it was not a difficult task for me. Its an ongoing loan the tenure was 20 years. I guess they have revised the rate too.
      Was this review helpful? 1
      , ghaziabad
      Reviewed on Feb 09, 2017
    • Central Bank of India Home Loan
      "My feedback"
      0.5 4.0/5 "Great!"
      Central Bank of India Housing loan is very good it provides very good response. This is the first time, I had taken this housing loan. Last month despite of demonetization I was able to get a favorable response from them and they were able to process the loan with ease.
      Was this review helpful? 2
      , chennai
      Reviewed on Dec 09, 2016
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