Experience financial freedom with Central Bank of India Personal Loan! Personal loans help you fulfil emergency needs with ease and without any extra hassle. CBI personal loan have competitive interest rates and convenient repayment options. Their interest rates start at 10.95% p.a. Apply for a central bank of India loan to enjoy a long tenure of up to 7 years.
Central Bank of India Personal Loan Details
Now get approval with an attractive interest rate at the comfort of your home. Here are the highlights of Central Bank of India personal loan interest rates in detail:
| CBI Interest rate | 10.95% - 12.55% p.a. |
| Loan Amount | Up to ₹15 lakhs |
| Tenure | Up to 7 years |
| Minimum Salary | ₹1.80 lakh p.a. |
| Processing Fee | Up to 1% of loan amount |
Table of Contents
- ⇾Central Bank Personal Loan Interest Rates & Charges
- ⇾Types of Central Bank of India Personal Loan & Features
- ⇾Central Bank Personal Loan EMI Calculator
- ⇾Central Bank of India Personal Loan Eligibility
- ⇾Central Bank of India Personal Loan Documents Required
- ⇾Comparison of Central Bank Personal Loan Vs Other Banks
- ⇾Features of Central Bank of India Personal Loan
- ⇾4 Easy Steps to Apply for Central Bank of India Personal Loan with Buddy Loan
- ⇾Frequently Asked Questions on Central Bank of India Personal Loan
Central Bank Personal Loan Interest Rates & Charges
Embarking on a financial journey? Personal loans come to the rescue! The Central Bank of India offers personalised loans to meet personal and domestic needs. They also offer loans to pensioners and gold loans for different money needs.
| CBI Personal Loan Scheme | Interest Rates (p.a.) |
|---|---|
| Cent Personal loan | 12.35% p.a. to 12.55% p.a. |
| Cent Pensioners | 10.95% p.a. |
| Cent Personal Gold Loan | 9.05% Onwards |
Types of Central Bank of India Personal Loan & Features
The Central Bank of India offers personal loans to everyone in need. Discover their diverse range of options with unique features and benefits. Creating the go-to personal finance solution for all your needs with CBI personal loan. Apply now for simple and hassle-free loan processes.
Cent Personal Loan
Purpose: A personal loan scheme caters to the personal or domestic requirements of borrowers.
Loan Amount: Up to Rs 15 lakh or 20 times the gross salary, whichever is lower. The borrower's net take-home pay should be at least 40% of the gross salary after deducting statutory dues, existing EMIs, and other loans.
Tenure: The loan can be availed for a maximum tenure of 7 years.
Processing Fee: A processing fee of 1% of the loan amount is applicable. However, it is waived for Defense Personnel.
Cent Pensioners Loan
Purpose: This pension loan scheme is designed to fulfil the personal needs of pensioners. It excludes purposes like, real estate investments, or prohibited activities.
Loan Amount: Up to 18 times their monthly pension, with a maximum limit of Rs 10 lakh.
Tenure: The loan can be repaid over a tenure of up to 5 years.
Processing Fee: No processing fee is charged for this loan scheme.
Cent Personal Gold Loan
Purpose: This loan facility is designed to address urgent personal expenses like medical, educational, or marriage needs, excluding agricultural purposes.
Loan Amount: Up to Rs 40 lakh.
Tenure: The loan can be repaid over a tenure of up to 12 years.
Processing Fee: 0.5% of loan amount with tax.
Central Bank Personal Loan EMI Calculator
Are you considering a CBI personal loan and want to know your monthly instalment amount? Look no further! With the Personal Loan EMI Calculator, you can easily determine the Equated Monthly Instalment (EMI) you'll need to pay. Simply input the loan amount, interest rate, and tenure, and voila!
The calculator will provide you with an instant estimate of your monthly repayment amount. Stay in control of your finances and plan ahead with this user-friendly tool that takes the guesswork out of the personal loan journey.
Central Bank of India Personal Loan Eligibility
Every lender sets a personal loan eligibility criteria for getting an instant loan. While looking to borrow money it is important to check your eligibility for the loan. To check eligibility use the CBI personal loan calculator and know the best loan offers -
| Factors | General Eligibility Criteria |
|---|---|
| Employment | Salaried |
| Age | Min -21 yrs |
| Monthly Income | Minimum ₹1.80 Lakh p.a. |
Work Eligibility-
Salaried -
Permanent/ confirmed employees in companies having completed a minimum three years of service.
Permanent employees of government services/institutions with a completed one year of service.
Scheme-Wise Central Bank Personal Loan Eligibility
Determine your eligibility for the personal loans by Central Bank of India on a scheme-wise basis.
CBI Cent Personal Loan Eligibility
Eligible for employees of central and state governments, central and state PSUs, educational institutions with a national reputation, or quasi-government.
CBI Cent Pensioners Loan Eligibility
To be used for any genuine personal needs. Prohibited to be used in other activities.
Eligible for Pensioners / family pensioners drawing pension through our Bank Branches including Ex-staff.
Co Borrower - The loan requires the pensioner's spouse or legal heir(s) of the family pension beneficiary to be co-borrowers.
Maximum loan amount of Rs 10 lakh with an ROI starting at 10.95% p.a.
No processing fee availed but a documentation fee of Rs 500 +GST
CBI Cent Personal Gold Loan Eligibility
This loan facility caters to immediate personal expenses excluding agricultural purposes, such as marriage, medical, or educational needs.
Loan Amount: The loan amount ranges from Rs. 10,000 to Rs. 20 lakhs.
Tenure: The loan can be repaid within a maximum period of 12 months.
Margin Retained: A margin of 30% of the gold's current market value is retained at the time of loan sanction.
Processing Fee: A processing fee of 0.5% of the loan amount, along with applicable taxes and appraiser fees, is charged.
Central Bank of India Personal Loan Documents Required
Prepare for CBI personal loan application by getting essential documents-
| Identity Proof | PAN Card, Voter ID, Driving License, Passport |
| Address Proof | Landline Bill, Electricity Bill, Ration Card, Voter ID, Passport |
| Income Proof | Statement of Bank Account/ Pass Book for last six months. |
| Other Documents |
Duly signed loan application form Processing Fee cheque Check-off letter from employer |
Comparison of Central Bank Personal Loan Vs Other Banks
Comparing interest rates of different banks is a crucial step while looking for personal loans. It helps in understanding the different rates and what works best for you. Here is a table showing the comparison of Central Bank of India rates with other banks:
| Lender | Interest Rates (p.a.) | Processing Fees |
|---|---|---|
| CBI | 10.95% - 12.55% p.a. | Up to 1% |
| SBI | 10.30%-15.10% p.a. | Up to 1.50% |
| HDFC Bank | 11.00% p.a. onwards | Up to 2.50% |
| ICICI Bank | 10.75% p.a. onwards | Up to 2.50% |
| Citibank | 9.99% p.a. To 16.49% p.a. | 0.25% to 3.00% |
| Axis Bank | 10.25% p.a. onwards | 1.5% to 2% |
| IndusInd | 11.00% p.a. | 2.5% onwards |
| Yes Bank | 10.99% p.a. onwards | 2.50% (one-time fee) |
| Shriram City | 11.49% p.a. To 23% p.a. | 2.50% |
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Features of Central Bank of India Personal Loan
Here are the exclusive features and benefits of an CBI personal loan
Instant Loan Approval
Get your loan approved within minutes.
Flexible Repayment
Choose your preferred repayment tenure.
Multipurpose Loan
Can be used for a variety of purposes.
Low Interest Rates
The interest rates range from 10.95% - 12.55% p.a.
No Collateral
Get fund without risking your assets.
Zero Hidden Charges
No hidden charges and extra penalties
4 Easy Steps to Apply for Central Bank Personal Loan with Buddy Loan
Here’s the step-by-step process that you can follow to apply for CBI personal loan on Buddy Loan:
Step 1 - Visit - buddyloan.com or Download the Buddy Loan app and compare features.
Step 2 - Fill out the application form including the loan amount, the tenure in months, and contact details.
Step 3 - Fill out the eligibility form and provide:
- email address
- employment type : Salaried/ self-employed
- company type
- Industry type
- current company name
- company address
- Year of Employment
- Net Income
- Mode of Salary
- PAN Card Details
- Full Name (As Per Pan Card)
- Current Address with PIN Code
- Mobile Number
Step 4 - Cross verify the given information and submit the application.
Ready to take next step ?
Frequently Asked Questions
Central Bank of India of India of India personal loan interest rates range from around 10.95% - 12.55% p.a. per annum, depending on various factors.
To check your loan eligibility for Central Bank of India of India of IndiaI, visit their official website or branch and use their loan eligibility calculator or consult with a loan officer for assistance.
You can apply for a CBI personal loan online or by going to the branch.
To qualify for Central Bank of India of India personal loans, you need to be at least 21 years old with a steady income. Permanent employees of government institutions or Indian/multinational companies are eligible. Interest rate: MCLR(12m) + 3.00%, processing fee: INR 500 + S.T.
Central Bank of India of India Personal Loan amounts can be up to Rs 15 lakhs, subject to eligibility and meeting the bank's criteria.
The repayment tenure of the Central Bank of India varies from 5-7 years based on various factors.
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