Multiple banks. Different interest rates. Call it a "conflict of interest".
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    We found 1 Central Bank of India Teacher Loan

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

    Central Bank of India Teacher Loan is Rated as "Excellent!" by 13 Users

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    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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  • Central Bank of India Teacher Loan Reviews

    • Central Bank of India Personal Loan
      "Good service but need to decrease the interest rate"
      0.5 3.0/5 "Satisfactory"
      The rate of interest offered by central bank was high , even though I have submitted the IT certificates. Central bank of India took a week time to disburse my personal loan. The documentation process was very good with Central bank. I am happy about the loan amount . This loan has the tenure of 8 years. I am satisfied with the central bank of India service.
      Was this review helpful? 2
      , coimbatore
      Reviewed on Jun 13, 2017
    • 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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