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.
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.
The loan can be disbursed as a Demand loan
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.
The interest rate will be the Base Rate of 9.70% + 2.75% = 12.45%
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.
The application form can be procured online, however you will need to visit the branch along with the duly filled form and supporting documents.