Central Bank of India is a nationalized bank that is currently governed under ministry of finance and is one of the oldest and biggest bank found in India. It has over 4600+ branches spread in India serving best facilities to consumers.
In this post, I’ll cover how to avail a personal loan at central bank, with its features, eligibility, contact details, and many more.
Table of Contents
Loan Details
| Sl. No. | Category | Data |
|---|---|---|
| 1 | Loan amount | Up to 10 Lakhs |
| 2 | Tenure | Up to 60 months (5 years) |
| 3 | Age | 21 years or above |
| 4 | Processing charge | 1% |
| 5 | Interest rates | 9.85-10.05% |
| 6 | Documents fee | Up to Rs 450 |
| 7 | Lowest EMIs | Rs 2,529 per Lakhs |
Steps to apply at Central Bank for personal loan
Step-1: Fill up the online application form for personal loan and enter the true personal details
Step-2: Submit the documents that are asked to you within timelines
Step-3: Bank authorities will review your application and make a decision and will notify you
Features of Central Bank personal loan
The features that make Central bank’s personal loan stand different amongst all are:
- Multiple schemes for personal loan
- Attractive interest rates
- Flexible period of tenure up to 5 years
- Digital procedure with no paperwork
Types of Central Bank personal loan
There exists three different types of personal loan at Central bank of India and they’re as follows:
- Central Personal Loan scheme: It is for any permanent government employee to cover the expenses of wedding, travel, medication, etc.
- Central Personal Gold Loan: It is given to individuals who take loan against providing gold ornaments to bank for fulfilling the personal needs.
- Special Central Covid Personal Loan: It is an urgent loan given to the consumers for covering up the Covid medication expenses.
Eligibility Criteria
The minimum eligible criteria which helps you to apply for a personal loan Central Bank are:
For Central Personal Loan Scheme
- Applicant must be working in any government organization with at least 1 year of experience in it
- Should be PR of India
For Central Personal Gold Loan
- Applicant must provide the 22 carat gold ornaments to take loan
- 30% of margin of gold value is to be provided at the loan sanction time
For Special Central Covid Personal Loan
- Applicant should be existing consumer of Central bank
- Loan should strictly be used for Covid affected member
- Age: 21-60 (for salaried), 21-70 (for pensioners)
Documents Required
The necessary documents for verification for personal loan are:
For salaried
- Fully filled loan application
- Identity proof (Passport/Driving license/Aadhar card/Voter ID)
- Residential proof (Utility bill/Passport)
- Income proof (Bank statement)
- Passport sized photographs
For self-employed
- Fully filled loan application
- Identity proof (Passport/Driving license/Aadhar card/Voter ID)
- Residential proof (Utility bill/Passport)
- Income proof (Bank statement)
- Passport sized photographs
- Business continuation proof
- Business/Office address proof
Check Status
You can easily track your loan application by clicking the following button:
Contact Details
Toll-free number: 1800 22 1911 (24×7 assistance)
Office telephone: 022 – 6638 7777
Android Central Bank app: Download Now
iOS Central Bank app: Download Now
FAQs
1]. What are the key documentation required for personal loan?
Identity proof, residence proof, photographs, and income proof are the main documents required.
2]. For what purpose, can I use personal loan of Central bank?
You can use personal loan to fulfill your dreams like wedding expense, travel expense, urgent expense, etc.
3]. Is the customer care number same for home and personal loan at Central bank of India?
Yes, for both, the numbers are same.
4]. What is the tenure to re-pay the loan amount?
You have 5 years to re-pay the loan amount.
5]. Can I experience a special discount on interest rates?
Yes, if you have CIBL score over 750, you’ll get a special discount on rates of interest. Ask the bank agent for more details.
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