The Central Bank of India is a trusted name in banking, offering the Central Bank Gold Loan to help you handle urgent financial needs with ease. Whether it’s personal expenses like marriage, education, medical emergencies, or business needs such as working capital or agricultural investments, Central Bank Loans aims to support you.
Central Bank Gold Loan offers a maximum loan amount of up to ₹40 lakh, with interest rates depending on the loan tenure. You can secure gold ornaments of 22-karat purity or gold coins (up to 50 grams per person) purchased from banks.
Central Bank Gold Loan Interest rate
Central Bank Gold Loan interest rates are calculated using the current Repo-Based Lending Rate (RBLR) of 9.35%, offering borrowers flexible and affordable loan options. Below is a detailed table outlining the rates for the loan:
| Tenure | Rate of Interest |
|---|---|
| 6 months | RBLR – 0.95% = 8.40% |
| 12 months | RBLR – 0.85% = 8.50% |
| 18 months | RBLR – 0.65% = 8.70% |
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Central Bank Gold Loan Details
The table below provides the details related to the Central Bank Gold Loan amount, repayment terms, interest rates, and other key features, making it easy for you to plan your finances effectively.
| Feature | Details |
|---|---|
| Quantum of Loan | Minimum: ₹10,000, Maximum: ₹40 lakh |
| Margin | 18% to 40% (as per product code) |
| Repayment Tenure | 3 months to 36 months (Retail/MSME) |
| Loan to Value (LTV) | 65% to 75% (Retail/MSME) |
| CIC Score | No minimum score |
Central Bank Gold Loan Repayment
Central Bank repayment options aim to provide flexibility and convenience to manage their financial obligations effectively. From diverse borrowers, including individuals, and businesses, to farmers, borrowers can choose repayment tenures ranging from short-term to long-term, with added convenience for shorter tenure loans.
| Loan Type | Repayment Tenure |
|---|---|
| Retail/MSME Loans | 3 months to 36 months |
| Agricultural Loans | 3 months to 60 months |
| Short Tenure Loans | 3 months or 6 months (Retail/MSME & Agriculture) |
Note: For gold loans with a 3 or 6-month tenure, the principal can be extended automatically by paying the interest and covering any shortfall in the Loan-to-Value (LTV) ratio, without re-evaluating the gold ornaments.
Central Bank Gold Loan Fees & Charges
Central Bank charges appraisal fees to evaluate the value of assets, such as gold ornaments or coins, pledged by borrowers as collateral for a loan. This table provides a clear breakdown of the processing and appraiser fees for ensuring transparency for borrowers:
| Processing Fee | |
|---|---|
| Loan Amount / Tenure | Rate of Loan Amount |
| 3 Months Loan | 0.125% |
| 6 to 12 Months Loan | 0.25% |
| Appraiser Fee | |
|---|---|
| Loan Amount / Tenure | Rate of Loan Amount |
| Up to ₹3 Lakh | 0.20% |
| Above ₹3 Lakh to ₹5 Lakh | 0.20% |
| Above ₹5 Lakh to ₹10 Lakh | 0.20% |
| Above ₹10 Lakh to ₹15 Lakh | 0.20% |
| Above ₹15 Lakh to ₹40 Lakh | 0.20% |
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Central Bank Gold Loan Eligibility Criteria
The Central Bank Gold Loan is designed for individuals, farmers, and proprietorship firms, offering easy access to funds for eligible borrowers with KYC-compliant accounts.
- Individuals aged 18 years and above.
- Farmers aged 18 years and above.
- Proprietorship firms.
- Must have KYC-compliant accounts with the Central Bank of India.
Central Bank Agri Gold Loan
The Central Bank of India Agri Gold Loan is also ideal for agricultural investments and farm-related activities, ensuring farmers and individuals have access to quick and hassle-free funding. This loan aims to meet non-speculative and urgent personal expenses like marriage, educational, medical needs, business-related needs, production credit/working capital/investment agricultural credit needs, etc.
Central Bank Agri Gold loan is secured by pledging gold ornaments with a purity of 22 karats or gold coins (up to a maximum of 50 grams per person) purchased from banks.
| Central Bank of India Agri Gold Loan Details | |
|---|---|
| Category | Details |
| Loan Amount | ₹40,000 – Rs 10,000/- |
| Margin | 18% to 40% as per product code |
| Loan to Value | 60% – 82% |
| Loan Tenure | 3 months-60 months |
Central Bank Agri Gold Loan Interest rate
The Central Bank of India Agri Gold Loan offers interest rates with options available for both Retail/MSME and Agricultural borrowers. Below is a detailed breakdown of the interest rate structure:
| Loan Type | Interest Rate |
|---|---|
| Agricultural Loans | 7% (with interest subvention) for loan amounts up to ₹3 lakh |
| Non-Interest Subvention Loans | 6M MCLR – 0.30% (8.50%) to 6M MCLR + 0.30% (9.10%) |
Central Bank Agri Gold Fees & Charges
The table outlines the fees for the Central Bank Agri Gold Loan, i.e., processing fees range for agriculture loans along with appraisal fees.
| Fee type | Loan Type | Fee of Loan Amount |
|---|---|---|
| Processing Fee | Agricultural Loans | Exempted for loans up to ₹5 lakh. |
| 1st Time Appraisal | 0.20% |
| Appraisal Fee | Renewals | 0.10% |
| Corporate Appraiser | 0.22% | |
| 0.11% |
Corporate Appraiser is a professional or authorized entity approved by the bank to evaluate the value and quality of gold ornaments or assets pledged as collateral for loans.
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Central Bank Gold Agri Loan Eligibility Criteria
This table simplifies the eligibility criteria for the Central Bank Agri Gold Loan, ensuring clarity for prospective borrowers.
| Criteria | Details |
|---|---|
| Age | Individuals and farmers aged 18 years and above. |
| Type of Borrower | Individuals, farmers, and proprietorship firms. |
| Account Requirement | Must have KYC-compliant accounts with the Central Bank of India |
Steps to Apply for Central Bank Agri Gold Loan
Applying for a Central Bank Agri Gold Loan online is a simple and user-friendly process that can be completed in just a few steps. Here’s a detailed guide to help you:
- Visit the Official Platform: Go to the Central Bank of India’s official website or download their mobile app.
- Log In: Enter your mobile number (including the country code +91) in the provided field.
- Enter Loan Details: Provide the required loan amount in Indian Rupees (INR) and enter the same amount in words (e.g., “Fifty Thousand Rupees”).
- Submit the Form: Complete the submission, and a bank representative will contact you for the next steps in processing your loan application.
Central Bank Gold Loan Customer Care
For any queries, assistance, or concerns related to your loan application, repayment, or other banking services, you can reach out to the Central Bank of India’s customer care team. Below are the contact details for prompt assistance:
Toll-Free Numbers:
- General Customer Care: 1800 3030
- Exclusive for Pensioners: 1800 203 1911
- National Toll-Free Number 1: 1800 110 001
- National Toll-Free Number 2: 1800 180 1111
Tolled Number:
- Customer Care Number: 022 41903900
The Central Bank customer care team is dedicated to resolving your issues and providing support for all your banking and loan-related needs.
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