Since 1911, the Central Bank of India has been servicing the Indian economy and has established itself as one of the leading names in the banking business. Its oldest bank,, offers prospective home buyers flexible Home Loans through the Cent Home Loan Scheme. Housing loans are available from the Central Bank at interest rates as low as 6.85%. This bank fulfils your financial needs by offering consumers attractive Home Loans with low interest rates.
Central Bank of India Home Loan Schemes 2021:
Cent Home Loan: Cent Home Loans are the most basic types of home loans available to salaried and self-employed people. It's appropriate for repairs, renovations, and the purchase or construction of a new home. The maximum moratorium tenure for this lending arrangement is 36 months. NRIs and Indian locals can apply for the loan.
Cent Home Double Plus Scheme: Under this plan, you can get a Home Loan with an overdraft for building/buying a new or existing house/flat, or a term loan for renovating, repairing, and refurbishing your home, buying a new car and household appliances, furniture, solar energy equipment, and financing your child's wedding/education expenses, medical expenses, and holiday.
Cent Home Loan to Government Employees: This Home Loan is only available to permanent workers of the Central government, state governments, and public sector organisations. It is used to purchase a property that is less than 30 years old.
Cent Home Loan Scheme for Purchasing 3rd or 4th House/Flat: This scheme allows you to borrow for the construction/acquisition of a new house/flat or the acquisition of an existing house/flat that is not more than 40 years old and has a loan tenure still of + 10 years.
Central Bank of India Home Loan Interest Rate 2021:
|
Central Bank Home Loan Schemes |
Interest Rate |
|
Cent Home Loan |
6.85% p.a. to 7.10% p.a. |
|
Cent Home Loan Double Plus |
7.10% p.a. to 11.35% p.a. |
|
Cent Home Loan scheme for purchasing 3rd or 4th House/Flat |
8% to 8.10% p.a. |
Features and Benefits of a Central Bank of India Home Loan:
- Both salaried and non-salaried applicants can apply for Central Bank home loans.
- Interest rates that are competitive
- EMIs are low:
- Balance Transfer Facility for Home Loans
- A high loan-to-value ratio of up to 90% is possible.
- Minimum paperwork.
Documents Required for Central Bank of India Home Loan:
|
Salaried Customers |
Businessmen – Professionals Self Employed |
|
Central Bank Home Loan Application Form with Photograph |
Central Bank Home Loan Application Form with Photograph |
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KYC Documents: Proof of Residence like Aadhar card, Passport, PAN, Voter ID, Driving License, etc. |
KYC Documents: Proof of Residence like Aadhar card, Passport, PAN, Voter ID, Driving License, etc. |
|
Bank statements from the previous six months. |
Bank statements from the previous six months. |
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Cheque for processing fee |
Cheque for processing fee |
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Current salary slip |
Certificate of education and proof of business or Shop act license |
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Form16 |
Company profile and income tax returns for the previous three years (self and business) |
|
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Profit/loss and balance sheet for the previous three years |
