Central Bank of India Personal Loan

• Loan amount: Central Bank of India offers a maximum personal loan amount of Rs. 10 lakh. Maximum loan amount offered to an individual depends on his credit score, repayment history, employer, age, etc.
• Flexible tenure: The loan can be repaid with flexible repayment options that are different for different schemes under the personal loan categories. The tenure options available are 36, 48, 60, etc. months
• Fast processing: Central Bank of India Personal Loan can be applied from the comfort of your home or office and ensures fast processing if you meet the eligibility criteria and submit all the necessary documents
• Various schemes: There are different schemes offered under the Central Bank of India Personal Loan category and are customised to cater to different needs of individuals

This personal loan is offered to fulfil personal needs of employees working in corporate firms. The loan offered under this scheme is twenty times of gross salary subject to maximum of Rs. 5 lakh and can be repaid with 36 months.

Personal Loan Scheme (Corporate) – Interest Rate and Fees

Personal Loan Scheme (Corporate) – Eligibility Criteria

• You should be a permanent employee of large corporate clients
• Your salary should be routed through the account maintained by Central Bank
• You should provide an undertaking to the bank for not transferring salary account to any other bank during the loan tenure. The undertaking should also be acknowledged by the employer
• You must also provide authority letter to debit the salary account for monthly instalments
• If your salary is not routed through the bank, you need to submit the following undertakings to get your loan sanctioned:

1. Undertaking from the employer to deduct EMIs from the salary of the borrower and pay the same to the bank directly
2. Undertaking should also cover deductions not only from salary but also from bonus/terminal dues in case of retirement and death

Cent Personal Loan Scheme is offered to salaried professionals to meet their personal and domestic expenses. The loan offered is twenty times of gross salary subject to a maximum of Rs. 10 lakh and can be repaid within 48 months.

Cent Personal Loan Scheme – Interest Rate and Fees

Cent Personal Loan Scheme- Eligibility Criteria

You should be a permanent employee of government institutions, railways, central and state government, hospitals, schools, municipal bodies, hospitals, etc. and should have completed 1 year of service

Or

You should be a permanent employee of Multination/Indian companies and should have completed at least 3 years of service

This loan scheme is offered to permanent employees of any Navratna/Maharatna/Major PSUs but not for speculative purpose. The loan amount that can be sanctioned goes upto Rs. 6 lakh and a flexibility of maximum 60 months is given to repay the loan.

Cent Ratna – Interest Rate

 Cent Ratna – Eligibility Criteria

• You should be a permanent employee of any Navratna/Maharatna/Major PSUs
• Your net take home pay after considering the proposed EMI should not be less than 40% of gross salary
• You should have a saving account or should open a saving account with the bank that should be operative until the loan tenure ends

The loan is offered to teachers to meet their domestic/personal expenses. The maximum loan amount offered is Rs. 5 lakh that can be repaid within 48 months.

Cent Teacher – Interest Rate and Fees

Cent Teacher – Eligibility Criteria

• You should be a permanent teacher or employee of a school, university or college and any other educational and research institute
• Your salary should be routed through the account maintained by Central Bank of India
• You should provide an undertaking to the bank for not transferring salary account to any other bank during the loan tenure. The undertaking should also be acknowledged by the employer
• If your salary is not routed through the bank, you need to submit the following undertakings to get your loan sanctioned:

1. Undertaking from the employer to deduct EMIs from the salary of the borrower and pay the same to the bank directly
2. Undertaking should also cover deductions not only from salary but also from bonus/terminal dues in case of retirement and death

The loan is offered to doctors to meet professional needs including purchase of equipment, ambulance, vehicle, computer, etc. or setting up of clinic, Pathological lab, X-ray lab, poly clinics, nursing home or renovation of existing premises or working capital requirement like stock of medicines and other disposables.

Cent Doctor Scheme – Quantum of Loan

Minimum: Rs. 1 lakh

Maximum: Rs. 500 lakh

Cent Doctor Scheme – Interest Rate and Fees

Cent Doctor Scheme – Eligibility Criteria

• Individuals, Partnerships, Trusts, and even companies can apply for this loan
• The borrower should be a registered medical practitioner and hold the qualification in any medical science branch, such as MBBS, BDS, BHMS etc. They can also hold degrees in Physiotherapy, Radiology etc.
• In case of a partnership at least 50% of that partnership should be registered medical practitioners
• In case of a company at least 50% of the directors should be qualified registered medical practitioners
• In case of loans above Rs. 10 lakh, personal guarantee of all promote directors, partners and trustees to be taken and in case of limited companies, partnership and trust account respectively

Central Bank of India provides different schemes under the personal loan category and the documents for each scheme may vary from each other. However, the basic documents required for each type of personal loan scheme are as follows:

• Identity proof: Passport, Pan Card, Voter Identity Card, Driving License, Aadhaar Card
• Address proof: Ration Card, Bank Account Statement, Passport, Driving License, Electricity Bill, Telephone Bill, Sale Deed/Property purchase agreement(for owned properties), Aadhaar Card
• Income proof: Bank Account Statement, Salary Slips

If you are planning to apply for Central Bank of India Personal Loan, it is a good decision to check your EMI before opting for the loan. Paisabazaar’s personal loan EMI calculator ensures that you get to know the exact EMI and borrow an accurate amount that you can repay without any hassle. All you need to do is fill the following details:

• Loan amount
• Tenure
• Interest rate

• You can call on 1800-22-1911
• You can visit the corporate office or zonal offices. You can see the list of offices here.