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    Central Bank of India(CBI) Mortgage Loan

    We found 1 Central Bank of India(CBI) Mortgage Loan

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    11.4% Floating
    500 One time fee
    10L
    4 Years
    Response Time Within 30 minutes
    Documents
    Perks
    Think about
    Eligibility Criteria

    Central Bank of India(CBI) Mortgage Loan is Rated as "Excellent!" by 12 Users

    Personal Loan BYTES FROM OUR KITCHEN

    Overview about Cent Mortgage

    Central Bank of India was established in the year 1911. It was the first Indian Commercial Bank that was owned and managed by Indians. The bank provides innovative and unique banking services and products to meet all the financial needs of their customers. Mortgage loan is one such product that they provide to their customers who wish to supplement their income. In India owning a property is a greatest asset one can own. Having a property in your name means that it can be used in emergency situations. A mortgage against a property can meet your financial requirements.

    Purpose of Central Bank of India Mortgage Loan

    Central Bank of India offers Mortgage Loan or Cent Mortgage to meet personal or business financial needs except for speculative purpose or real estate activity or capital market activity.

    Eligibility Criteria for Central Bank of India Mortgage Loan

    Individuals who wish to obtain a Central Bank of India Mortgage Loan or Cent Mortgage is offered against mortgage of immovable property located in metro or urban or semi-urban and rural centres. The loan is offered to:

    • Individuals
    • Staff
    • Single or joint individuals
    • Businessmen
    • Professionals
    • Self-employed individuals
    • Proprietary firms
    • Partnership firms
    • NRIs with a co-borrower who is a resident India.
    • Minimum monthly income requirement is Rs.10,000.
    • The borrower must not be engaged in real estate or speculative activity or capital market activity.

    Note: The criteria is subject to change at the sole discretion of State Bank of Mysore.

    Documents Required for Central Bank of India Mortgage Loan

    A borrower is required to furnish the following documents before availing a loan:

    • Application form duly filled.
    • Identity proof - either passport, PAN card, employee identity card or other valid proof.
    • Address proof - either electricity bill, telephone bill, ration card or other valid proof.
    • PAN card copy.
    • Property papers that is the ownership proof and title deed.
    • 3 passport sized photographs.
    • Any other required documents as expressed in the application form must be submitted.

    Features and Benefits of Central Bank of India Mortgage Loan

    Some of the salient features and benefits of Central Bank of India Mortgage loan or Cent Mortgage are:

    • The loan is easy to avail and requires minimum documentation and is processed very quickly.
    • Competitive interest rate is offered by State Bank of Mysore.
    • The idle property can be used to avail funds.
    • The mortgage loan is offered as term loan or ad an overdraft facility.
    • Overdraft facility is for a year and it will be reviewed annually.
    • The minimum loan amount offered is Rs.1,00,000. The maximum loan amount offered is Rs.1,00,00,000 for a property that is located in a rural area and Rs.10,00,00,000 for property located in other areas.
    • The non-encumbered residential property or commercial or industrial property has to be offered as security. The property value must be equal to or more than 200% of the loan.
    • The mortgaged property must be insured against fire, riots, earthquake, flood, lightning etc.
    • Personal guarantee of the joint or co-owner is to be provided. If the firm or company is being mortgaged then personal guarantee of partners and directors has to be taken.
    • The processing fee for the term loan is 0.50% of the loan amount subject to a maximum of Rs.20,000.
    • The processing fee for the overdraft facility is 0.50% of the loan amount subject to a maximum of Rs.10,000 for sanction and maximum of Rs.2,000 per renewal.
    • There is no prepayment charges applicable if the borrower is paying the loan from his own sources. If the loan is taken over by another bank, then the prepayment charges incurred is 1% of the outstanding loan amount.
    • Loan can be repaid in maximum of 120 EMIs. The EMIs can be paid through ECS mandate or through post-dated cheques.

    Central Bank of India Mortgage Loan Interest Rate

    Central Bank of India charges an attractive interest on their mortgage loan. The bank ensures that repaying the loan doesn’t become an additional financial burden on the borrower. The interest rate offered is 13.75% per annum.

    Note - Interest rates charged by Central Bank of India are at their sole discretion and are subject to change without prior intimation.

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  • Central Bank of India(CBI) Mortgage Loan Reviews

    • Central Bank of India Personal Loan
      "Very fast"
      0.5 5.0/5 "Blown Away!"
      The loan processing is very fast and quick with Central bank. As I had taken loan from Central bank before 5 years. Its still an ongoing loan and I am left with 15K to clear the loan completely. All is good with Central bank be it service or processing and everything is absolutely fine with them.
      Was this review helpful? 2
      , tirupur
      Reviewed on Nov 28, 2016
    • Central Bank of India Personal Loan
      "Less rates applied "
      0.5 2.0/5 "Expected more"
      Central Bank of India has offered the best quote for the loan along with the charges . It was average service provided by Central bank of India related to the personal loan application.Their branch is situated in our office campus.Their service differ from person to person.For some they process it within 4days, but for other it will take even 1month to complete the loan process.
      Was this review helpful? 2
      , vijayawada
      Reviewed on Jun 14, 2016
    • Central Bank of India Personal Loan
      "Easy process "
      0.5 5.0/5 "Blown Away!"
      The loan process was not good with Central bank related to the personal loan process.The application was processed through the company.The documetns requried very simple documents.The interest rate applied was very less.They are updating about the loan process in a clear manner.
      Was this review helpful? 1
      , chennai
      Reviewed on Mar 05, 2016
    • Central Bank of India Personal Loan
      "Nice bank to avail loan "
      0.5 5.0/5 "Blown Away!"
      The service provided was very nice with Central bank of India related to personal loan.Once I provided the document they are processing the loan in easy manner.The interest rate applied was very good.They have not applied any additional charges in the account.
      Was this review helpful? 0
      , chennai
      Reviewed on Feb 25, 2016
    • Central Bank of India Personal Loan
      "Best interest ...."
      0.5 3.5/5 "Pretty good"
      Last 2 years back I got personal loan from Central bank of India. Interest rate offered by them was 12% which is very less compare to HDFC bank. They have collected simple documents from my end. Being a account holder they did not charged processing fees.
      Was this review helpful? 1
      , bangalore
      Reviewed on Nov 26, 2015
    • Central Bank of India Personal Loan
      "Good ROI"
      0.5 4.0/5 "Great!"
      One year has been completed now after taking the personal loan from CENTRAL BANK OF INDIA. It is my salary account so I personally approached the bank manger. I got 14% as the rate of interest. They are following the customers very well. They came to me for my verification at the right time. It find little difficult in submitting my salary certificate with them.
      Was this review helpful? 1
      , coimbatore
      Reviewed on Oct 26, 2015
    • Central Bank of India Personal Loan
      "Charge is nil and rate is very less..."
      0.5 5.0/5 "Blown Away!"
      No processing charge in Central Bank of India and the interest rate for personal loan is only 12%. I am holding an account but still I submitted number of documents to get processed the loan. According to me the bank is not collecting relevant and required documents.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 12, 2015
    • Central Bank of India Personal Loan
      "Got A Loan..."
      0.5 4.0/5 "Great!"
      Central bank of India provided me a personal loan. The response was immediate. I got my loan sanctioned with 4 to 5 days. The documentation part was very easy. The customer service was good. They are also allow part payments and fore closure.
      Was this review helpful? 5
      , chennai
      Reviewed on Aug 14, 2015
    • Central Bank of India Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      The whole experience was good with Central bank of India for my home loan. The process was really good and fast and its almost been a year I am banking with them. I am even planning to close my loan this year. The response was always prompt from them.
      Was this review helpful? 3
      , bangalore
      Reviewed on Jun 18, 2015
    • Central Bank of India Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have taken a Personal loan from Central Bank Of India before 2 years for my daughters marriage and its been 23 years completed and I have no issues with them and I also hold my salary account with this bank. The customer service executives response is good if I approach the bank directly. The best part about the bank is the rate of interest charged is less and there is no processing fees as well.
      Was this review helpful? 3
      , bangalore
      Reviewed on Mar 11, 2015
    • Central Bank of India Personal Loan
      "Best bank"
      0.5 4.0/5 "Great!"
      When I applied personal loan from central bank of india response was quite good. Within 3 - 4 days the loan got disbursed. I got very good interest rates which was comparatively less than other banks. ATM and branch facilities are really good
      Was this review helpful? 7
      , chennai
      Reviewed on Oct 03, 2014
    • Central Bank of India Personal Loan
      "Great experience"
      0.5 5.0/5 "Blown Away!"
      It was a wonderful experience of availing a personal loan from Central bank of India in the month of Apr'2014. Bank people was very co-operative in making my loan disbursed within just 7 days. Everything was simple and the process was much faster. Rate of interest & processing fees are pretty good.
      Was this review helpful? 6
      , mumbai
      Reviewed on Jul 08, 2014
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