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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.
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.
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:
Note: The criteria is subject to change at the sole discretion of State Bank of Mysore.
A borrower is required to furnish the following documents before availing a loan:
Some of the salient features and benefits of Central Bank of India Mortgage loan or Cent Mortgage are:
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.
A GST rate of 18% will be applicable on banking services and products from 01 July, 2017.
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