Why is the Central Bank of India for Your Next Home Loan?
The Central Bank of India property loan is one of the oldest and most reliable
banks around. They are all about helping individuals to get into homes. They have got home loans
with good interest rates, and long repayment tenure, plus, paperwork is pretty simple. If you
are a regular employee, work for yourself, are a professional, or even live outside India, the
Central Bank of India tries to be helpful. They have online tools and local people to guide you,
so getting a home loan is smooth and fits what you need.
Central Bank of India Home Loan Products
The Central Bank of India home loan interest rate has a bunch of home loan options for different
individuals:
Cent Home Loan: Get it for buying, building, or adding on to your
place.
Cent Grih Lakshmi: It's for women. They get better rates, and
it's easy to use.
Cent Home Double Plus: This one's a home loan that lets you pull
out extra cash when you need it.
Cent Home Loan for Third or Fourth House/Flat: Want to buy more
property? This is for you.
Cent Top-Up Scheme: Need extra cash on top of your current home
loan? You can use this for anything (except gambling or illegal stuff).
Balance Transfer and Renovation Loans: Switch your loan to the
Central Bank of India for cheaper rates, or use it to fix up your place.
Summary: Basically, they have got a loan for whatever you are
doing with your house.
Central Bank of India Home Loan Interest Rates
| Scheme/Product |
Interest Rate (p.a.)
|
Maximum Tenure
|
Loan Amount
|
Processing Fee
|
| Cent Grih Lakshmi |
8.35% – 9.25% |
Up to 30 years |
Up to 90% of value |
0.50% (₹2,500–₹20,000) |
| Cent Home Loan |
8.50% – 9.50% |
Up to 30 years |
Up to 90% of value |
0.50% (₹2,500–₹20,000) |
| Cent Home Double Plus/Multiple Properties |
9.35% – 9.85% |
Up to 30 years |
Up to 90% of value |
0.50% (₹2,500–₹20,000) |
| Cent Top-Up Scheme |
9.00% – 9.70% |
Linked to base |
As per eligibility |
0.50% |
if you are thinking about a home loan from the Central Bank of India, their rates
are still pretty good. Women and those with solid credit can borrow at rates starting at 8.35%,
but it could go up to 9.85% for certain plans. You can pay it off over 30 years; they will loan
you up to 90% of the place's worth. The processing fee is cheap (around 0.50% of the loan, with
a set minimum and maximum), and you won't get charged extra for paying off your floating-rate
loan early, which pushes you to pay it off sooner.
Processing Fees and Eligibility Criteria
Expect to pay around 0.50% of your loan amount, but it will be at least ₹2,500 and won’t go over
₹20,000. Sometimes, they waive these fees during special promos.
Who Can Apply -
Basically, anyone who's -
- Salaried, self-employed, has a business, a professional, or even an NRI.
- Between 18 and 70 years old (gotta pay it back by 70, tops).
- Has a stable and provable income.
- Has a decent credit score (like CIBIL 675 or better) – gets you a better shot and maybe a
lower interest rate.
- Can get a loan that’s 75–90% of the property value, depending on your income and how easily
you can pay it back.
- Plus, you can add a co-applicant (spouse, parents, adult kids) to help get approved.
Required documents for the Central Bank of India Home Loan
* A filled-out loan application form with your passport photos on it.
ID and proof - Aadhaar card, PAN card, passport, Voter ID, or
driver's license.
You can use your Aadhaar card - utility bill, bank statement, or
passport for address proof.
For income proof:
Salaried: Bring your salary slips from the last 3–6 months, Form
16 or ITR, and your appointment letter.
Self-Employed: Bring your ITR for the last 3 years, financial
statements, and proof of your business.
Property Documents: This includes the sale agreement, title
deeds, approved construction plan, NOC from the builder or housing society, valuation and
estimation certificates, and your latest property tax receipt.
Bank Statement: Statements for the last 6–12 months.
Photos: Recent passport-sized photos.
Other Documents: Any other declarations, promises, or statements
the bank asks for.