Upto Rs.10 Lakhs – Central Bank Personal Loan

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.

Loan Details

Sl. No.CategoryData
1Loan amountUp to 10 Lakhs
2TenureUp to 60 months (5 years)
3Age21 years or above
4Processing charge1%
5Interest rates9.85-10.05%
6Documents feeUp to Rs 450
7Lowest EMIsRs 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

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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:

  1. Central Personal Loan scheme: It is for any permanent government employee to cover the expenses of wedding, travel, medication, etc.
  2. Central Personal Gold Loan: It is given to individuals who take loan against providing gold ornaments to bank for fulfilling the personal needs.
  3. Special Central Covid Personal Loan: It is an urgent loan given to the consumers for covering up the Covid medication expenses.
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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

  1. Fully filled loan application
  2. Identity proof (Passport/Driving license/Aadhar card/Voter ID)
  3. Residential proof (Utility bill/Passport)
  4. Income proof (Bank statement)
  5. Passport sized photographs

For self-employed

  1. Fully filled loan application
  2. Identity proof (Passport/Driving license/Aadhar card/Voter ID)
  3. Residential proof (Utility bill/Passport)
  4. Income proof (Bank statement)
  5. Passport sized photographs
  6. Business continuation proof
  7. Business/Office address proof
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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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