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    Central Bank of India Teacher Loan

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    9.70% Floating
    500 One time fee
    5L 40% to 20 times monthly salary
    1-3 Years
    Response Time Within 30 minutes
    Think about
    Eligibility Criteria

    Central Bank of India Teacher Loan

    Cent Teacher

    The Cent Teacher is a finance product from Central Bank of India with an aim to provide finance to teachers. The teacher applicant can take a loan. Thus providing them with an avenue to utilize this finance they require for any personal and domestic expenses.

    Where is the purpose of Cent Teacher?

    Loan amount provided as per the (Central Bank of India Teacher Loan) Cent Teacher 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 are the types of financing available?

    The loan can be disbursed as a Demand loan

    What is the maximum amount of loan I can avail?

    The maximum loan amount that can be availed as per the Cent Teacher will be 20 times of the applicant’s gross salary or Rs. 5 lakhs. The minimum amount will be a 40% of their net home pay.

    What is the rate of interest on Cent Teacher?

    The interest rate will be the Base Rate of 9.70% + 2.75% = 12.45%

    What are the documents required for Cent Teacher?

    1. Original Salary Slip / Salary Sheet for the latest month
    2. Proof of residence such as Election ID card, Govt / Defence ID Card, Passport etc.
    3. Letter of authority allowing employer to deduct EMIs and remit to the bank
    4. Proof of identity such as PAN card, Election ID card, Govt / Defence ID Card, Passport etc.
    5. Guarantor's letter of consent
    6. Undertaking of the employer.

    What are the terms for Cent Teacher?

    1. The bank will charge processing fees of Rs. 500 per proposal
    2. Repayment of the loan will need to be within 48 installments
    3. If the applicant has security in the form of NSCs, KVPs etc. and will provide it as a security then a 1% of return of investment may be allowed, at the bank's discretion
    4. Equal to the loan amount the guarantor in this case a co-employee will need to be provided
    5. If the salary of the applicant is routed through account maintained with Central Bank of India, the applicant should provide an irrevocable undertaking that the salary will not be transferred to any other account during the loan period.
    6. An irrevocable undertaking will need to be provided by the employer, stating the EMIs from the salary will be deduct for the applicant and the same will be paid directly to the Bank.

    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 Cent Teacher 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.


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