A "low interest" loan shouldn't mean you have very little interest in paying it back!
  • Central Bank of India Home Loan Eligibility

    The home loan eligibility of Central Bank of India depends on a number of factors such as age and credit risk. The quantum of loan offered also depends on various factors such as the income and repayment capacity. The bank offers home loans with attractive interest rates and a maximum repayment tenure of 30 years and a moratorium period of up to 2 years.

    More
    We found 1 Home Loan
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    PA PL OTP
    6.85% - 7.10% Floating
    1.00%(Min ₹10,000) One time fee
    Rs.20L - Rs.75L
    1 - 30 Years
    What you'll love
    Documents
    Perks
    Think about

    Central Bank of India Home Loan Eligibility Criteria

    The home loan eligibility criteria for Central Bank of India are as given below:

    Age 18 years
    Employment Type Salaried individuals Non-salaried business people or professionals
    Loan-to-Value (LTV) Ratio 75% to 90%

    Central Bank of India Home Loan Eligibility Based on Salary

    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).

    Monthly Income Loan Amount
    Rs. 25,000 Rs.15,26,114
    Rs. 30,000 Rs.20,60,253
    Rs. 35,000 Rs.24,03,629
    Rs. 45,000 Rs.30,90,380
    Rs. 50,000 Rs.34,33,756
    Rs. 55,000 Rs.41,96,812
    Rs. 60,000 Rs.45,78,341
    Rs. 65,000 Rs.49,59,869
    Rs. 70,000 Rs.53,41,398
    Rs. 75,000 Rs.57,22,926

    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.

    Applicant’s Age Maximum Eligible Tenure
    21 years to 30 years 30 years
    31 years 29 years
    32 years 28 years
    33 years 27 years
    34 years 26 years
    35 years 25 years
    36 years 24 years
    37 years 23 years
    38 years 22 years
    39 years 21 years
    40 years 20 years
    41 years 19 years
    42 years 18 years
    43 years 17 years
    44 years 16 years
    45 years 15 years

    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:

    Loan Amount LTV Ratio
    Up to Rs.30 lakh 90%
    Between Rs.30 lakh to Rs.75 lakh 80%
    Loans above Rs.75 lakh 75%

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

    Loan Amount LTV Ratio
    Up to Rs.75 lakh 80%
    Loans above Rs.75 lakh 75%

    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:

    Rating Credit Score
    Good 725 and above
    Average 701 to 750
    Poor 675 to 725

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

    Credit Rating Agency Minimum Limit
    Experian 700
    CRIF 675
    TransUnion CIBIL 675

    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:

    • Applicant’s age
    • Applicant’s credit score
    • Applicant’s salary or income source
      

    Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

    reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.