Central Bank of India Home Loan 2021 | |
Interest Rate | 6.85% onwards |
Loan-to-Value Ratio | Up to 90% of the property value |
Loan Tenure | Up to 30 years |
Processing Charges | 0.50% of the Loan Amount (Max. of Rs. 20,000) + GST |
Central Bank of India home loan interest rate is 6.85% onwards. Both salaried and self employed individuals can avail Central Bank of India home loan for constructing/acquiring a new home/flat. The housing loan can also be availed to buy an existing home/flat which has a remaining life of applied loan tenure plus 10 years. The Central Bank of India housing loan facility is also available to NRI customers looking for financial support to buy a home in India.

Get Home Loan at Lowest Interest Rate Starting @ 6.70% Per Annum Apply Now
Features and Benefits of Central Bank of India Home Loan
- Attractive interest rates starting from 6.85% p.a.
- Longer repayment period of up to 30 years
- High loan to value ratio of up to 90%
- Minimal paperwork
- Both Resident & Non-resident individuals can apply
Check Also: Home Loan Interest Rates
Central Bank of India Interest Rates
The rate of interest offered by Central Bank of India Home Loan is directly linked with RBI’s Repo Rate which currently stands at 4.00%. The total interest rate applicable on a home loan is a combination of RBI Repo Rate and spread basis customer’s risk category. Mentioned below are the interest rates applicable to customers of different risk categories.
Risk Category (basis the CIBIL Score) | Applicable Interest Rate |
Low | 6.85% onwards |
Medium | 8.10% onwards |
High | 8.30% onwards |

Get Your Free Credit Report with Monthly Updates Check Now
Central Bank of India Processing Fee and Other Charges
Particulars* | Charges/Fee |
Processing Fee | 0.50% of the Loan Amount, subject to a maximum of Rs. 20,000 |
Prepayment Charges | In case of floating interest rate: Nil For others: 1% of the amount prepaid |
CIBIL Charges | Consumer- Rs 100 Per CIBIL Commercial- Rs 1000 Per CIBIL |
CERSAI Registration/Modification Charges | As per actuals |
Documentation Charges | Above Rs. 2 lakh to Rs.10 lakh- Rs.250 per lakh, subject to a maximum of Rs.2500. Above Rs.10 lakh to up to Rs.100 lakh- Rs. 230 per lakh, subject to a minimum of Rs.2500, and a maximum of Rs. 20,000. Above Rs.100 lakh– Rs.200 per lakh, subject to a minimum of Rs.20,000, and a maximum of Rs.50,000. |
* Goods and Services Tax (GST) as applicable will be levied in addition to the mentioned charges.
Central Bank of India Home Loan EMI Calculator
Central Bank of India Home Loan EMI Calculator can be found at www.paisabazaar.com. It allows easy calculation of monthly instalment to be paid towards the repayment of the availed loan amount within the selected tenure. Knowing the EMI in advance helps to plan the finances better. Some of the points that affect the EMI are interest rate, loan tenure, principal amount or the amount to be borrowed and credit score.
- Loan Amount: This is the principal amount borrowed from the bank. Higher the loan amount, higher the EMI
- Rate of Interest: This is the most important point determining the ability and the ease to repay the loan. Different lending institutions offer different interest rates which keep changing from time to time. Higher interest rate on the loan translates to higher EMI
- Loan Tenure: This is the time duration within which the borrower needs to fully repay the loan amount. Loan tenure depends on the borrower’s current age and the retirement age. Longer tenure means smaller EMIs and vice-versa

Compare & Apply for Home Loans from Top Lenders Get Started
Central Bank of India Eligibility Criteria
Mentioned below is the criteria that a customer must satisfy to avail home loan from Central Bank of India.
Age | Minimum: 18 years Maximum: 75 years |
Eligible Profiles | ● Resident Salaried and self-employed professionals ● Non-Resident salaried and self-employed professionals |
Loan Amount | Up to 90% of the property value |
Other Conditions | ● Good credit rating score ● Clear record in terms of past loans and statutory payments |
Central Bank of India Documents Required
Following are the documents required to successfully apply for Central Bank of India Home Loan.
Salaried Individuals | Self Employed Individuals |
Duly filled in and signed the application form with photographs | Duly filled in and signed application form with photographs |
Identity, address and age proof | Identity, address and age proof |
Salary slip of last 3 months | ITR and financial statements, including balance sheet, profit & loss account, schedules. (documents must be certified by a CA) |
Bank statement of the past 6 months | Bank statement of the past 12 months |
Form-16 and Income Tax Returns (ITR) details | For partnership firms: Latest partnership deed For companies: Latest Memorandum and Articles of Association (CA certificate on profit sharing ratio/list of directors/shareholding partnership) For Limited Liability Partnership: LLP Agreement |
Title documents of the property | Title document of the property along with business address proof |

Get Your Free Credit Report with Monthly Updates Check Now
Central Bank of India Home Loan Schemes
- Cent Home Loan to Employees: This scheme is exclusively available to all permanent employees of central/state governments and PSUs of the central government. The loan amount availed from the scheme can be used for:
- construction/acquiring of new or existing house/flat, not older than 30 years
- extension of existing house/flat
- repairs/renovation/alteration of existing house/flat
- Cent Combo: This scheme is ideal for the customers looking for concession in Home Loan and Vehicle Loan if taken together. It provides 0.25% concession in home loan interest rates on all slabs, and 0.50% concession in vehicle loan interest rates on all slabs. The minimum interest rate applicable is subject to MCLR.
- Cent Home Double Plus: This home loan scheme is offered in two variants:
- Home loan with Overdraft Facility
- Term Loan for repair/ Renovation of the existing property
Home loan with Overdraft Facility: The overdraft facility is offered for construction/purchase of a new or existing property. The loan is available to salaried and self-employed individuals, professional, any other individual having a regular source of income. It helps in minimizing the burden of interest while offering the flexibility to withdrawal at the time of need. [Read Also: Home Construction Loan]
Income Norms:
Annual Income | Net Take Home Pay/Income |
Up to Rs.5 lakh | 35% |
Above Rs.5 Lakh to up to Rs.10 lakh | 30% |
Above Rs.10 lakh | 25% |
Term Loan for repair/ Renovation of the existing property: This scheme is for borrowers who are availing Cent Home Double Plus for purposes like repairs/renovation of house, refurbishing/furnishing of house, purchase of a new vehicle, purchase of consumer durables/ furniture, solar energy equipment, children marriage/education expenses, medical expenses, family holiday tour. [Read Also: Home Renovation Loan]
- Cent Home Loan Scheme for purchasing 3rd or 4th house/flat: This scheme is available to customers looking to buy an existing home/flat which is not older than 40 years and has a remaining life of applied loan tenure plus 10 years. The applicable interest rate on this scheme is MCLR (12m)+ 1 %.
Apply for Central Bank of India Home Loan on Paisabazaar.com
Customers can apply online for Central Bank of India Home Loan through Paisabazaar.com by simply following the below-mentioned steps.
Follow the link https://www.paisabazaar.com/home-loan/
Fill the form by providing relevant details like the loan amount, city of the property, tenure, etc.
On filling all the required details, click on the ‘Proceed’ button
Soon, a representative from Paisabazaar will contact you on the provided contact number to process your application.

Reduce Your Monthly Instalments with Home Loan Balance Transfer View Offers
Central Bank of India Home Loan Customer Care Details
Customers can reach out to Central Bank of India on the toll-free number 1800 22 1911 to get their home loan-related queries addressed.
FAQs
Q1. Is home loan top-up facility available?
Yes. You can opt for a top-up on your existing home loan through overdraft facility under Cent Home Double Plus scheme.
Q2. Do I require a guarantor to avail a home loan?
No, you do not need a guarantor to avail a home loan.
Q3. Is it mandatory to have a co-applicant to apply for a home loan?
A co-applicant is not required to apply for a home loan. However, if there are other co-owners of the property for which you are availing the home loan, then it is mandatory to include them as co-applicants. For NRI applicants, it is necessary to have a local co-applicant or a local contact person.
Q4. Is it possible to transfer my existing home loan to Central Bank of India?
Yes. You can easily transfer your current outstanding home loan from another lender to Central Bank of India.