Central Bank of India (CBI) Personal Loan to Pensioners

The Central Bank of India Personal Loan to Pensionersa is a finance product from Central Bank of India with an aim to provide finance to Pensioners. The Pensioner applicant can take a personal loan. Thus providing them with an avenue to utilize this finance they require for any personal expenses such as medical expenses, marriage expenses, etc

Where is the purpose of Central Bank of India Personal Loan to Pensioners?

Loan amount provided as per the Central Bank of India Personal Loan to Pensioners can be utilized to meet any financial expenses requirement, or meeting any personal emergency expenses needed by an individual. This loan can also be used for medical emergencies, home renovation, family vacation etc.

What is the eligibility criteria for Central Bank of India Personal Loan to Pensioners?

Eligibility conditions for Central Bank of India Personal Loan to Pensioners:

1. Applicant needs to be a Pensioner Family Pensioners and must be drawing their pension from branches of Central Bank of India.

What are the types of financing available?

The loan can be disbursed as a term loan and Overdraft.

What is the maximum amount of loan I can avail?

1. Pensioners at the age of 75 years will receive 18 months pension or a maximum of Rs. 5, 00, 000
2. Pensioners above the age of 75 years will receive 12 months pension or a maximum of Rs. 2, 00, 000

What is the rate of interest on Central Bank of India Personal Loan to Pensioners?

The interest rate will be the Base Rate of 9.70% + 2.00% = 11.70%

How do I apply for this loan?

You could download the forms from the website to apply for the application, and along with supporting documents can apply at the nearest Central Bank of India branch.

Can I apply for Central Bank of India Personal Loan to Pensioners online?

The application form can be procured online, however you will need to visit the branch along with the duly filled form and supporting documents.