Central Bank of India Home Loan Eligibility

Central Bank of India's home loan is offered to those who have a stable source of income. It can also be applied for jointly with a parent, spouse, or adult child who also has a stable source of income. The interest rates are linked to the Repo Based Lending Rate (RBLR).

The Central Bank of India's home loan eligibility calculator given below will give you a clear picture of the loan amount that you are eligible for based on the monthly income taking into consideration a repayment tenure of 30 years with an interest rate of 6.85% p.a. (which is the starting interest rate for Central Bank of India's home loans).

Central Bank of India Home loan Eligibility Based on Age

Central Bank of India's home loans have a repayment tenure of up to 30 years. The earlier a loan is taken, the longer will be the repayment tenure and vice versa. Given below is the maximum eligible tenure according to the different ages.

Central Bank of India Home Loan Eligibility Based on Value of Property

The Loan to Value (LTV) ratio is the quantum of loan that is disbursed based on the value of the property that you intend to purchase. The LTV ratio for different loan amounts for salaried individuals is as given below:

The LTV ratio for different loan amounts for non-salaried individuals is as given below:

Central Bank of India Home Loan Eligibility Based on Credit Score

Your home loan eligibility is dependent on your Credit Score. The higher your credit score, the lower your interest rate and vice versa. Here are the ratings for different credit scores:

Central Bank of India has different Minimum Credit Information Company (CIC) threshold limits for different credit rating agencies which is as given below:

Central Bank of India Home loan Eligibility for Women

The eligibility criteria for women are the same as for other applicants.

Central Bank of India Home loan Eligibility for Co-Applicant

Central Bank of India accepts co-applicants if they are the applicant's spouse, adult child, or parent.

Factors Affecting Central Bank of India Home Loan Eligibility

Central Bank of India's home loan eligibility is determined by the factors given below:

1. Applicant's age
2. Applicant's credit score
3. Applicant's salary or income source

A good credit score can help you secure lower interest rates on loans and credit cards.

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