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Central Bank of India Personal Loan

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Get Central Bank Of India Personal Loan at lowest Rates!

  • Loan Amount: Varies from Customer to Customer
  • Processing Fees: Upto 1%

Looking for a Personal Loan? Get Assured Cashback, upto 100%* of your loan amount

Apply for Personal Loan Starting From 10.50%*

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*Offers are from Paisabazaar's partner Banks & NBFCs.

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Paisabazaar Personal Loan Cashback Offer
Terms and Conditions

What is the Offer?

Paisabazaar Personal Loan Cashback Offer (“Offer”) will allow customers to participate in this offer by applying for Personal Loan on the Website i.e. www.paisabazaar.com or mobile application (“Website”). To Participate in this Offer, customers need to apply/ fill in application for a Personal Loan on the Website between 00:00:00 hours 26th June, 2021 to 23:59:59 hours 31st July, 2021 (“Eligibility Period”). Once the Personal Loan is disbursed and confirmed by the bank, the customer will be eligible for the Offer. This Offer is launched and offered solely at the discretion of Paisabazaar. By your access and participation in the Offer, you agree to be bound by the terms described herein and all the terms incorporated by reference. This Offer shall also be governed by Terms of Use, Privacy Policy as displayed on the Website.

Under this Offer:

- 1 lucky winner will get up to 100% of his Personal Loan amount disbursed as Cash back (Maximum cashback will be INR 5,00,000). For e.g. If your Personal loan amount disbursed within the specified period is 7,00,000/-; you will be eligible for maximum Cashback of INR 5,00,000). If your Personal loan amount disbursed is 3,00,000/- or 5,00,000/- lakh you will be eligible for upto 100% cashback of your Personal Loan amount i.e. 3,00,000/- or 5,00,000/- respectively

- 2 lucky winners will get 1 lakh cashback

- 3 lucky winners get 50,000/- cashback

- 10 lucky winners get 10,000/- cashback

- Others get 1000/- cashback

Offer Eligibility

To receive benefits under this Offer:

1. Customer should have applied for Personal Loan on the Website between 00:00:00 hours 26th June 2021 to 23:59:59 hours 31st July 2021.

2. The Personal loan should be disbursed to the customer on or before 23:59:59 hours 31st August 2021

3. Only for salaried customers

4. Minimum Personal Loan amount should be INR 1,00,000

5. Where the Customer has applied for more than one Personal Loan application during the Eligibility Period, the Customer will be eligible for cashback under this Offer for Personal Loan applied first during the offer period/ Eligibility Period.

6. Customers availing/ availed Personal loan under any Pre-Approved offer or No income document offer on the Website will not be eligible for benefits under the Offer.

2. How does the customer get cashback?

For cashback below INR 10,000

-- The customer shall be eligible for cashback in the form of ‘Cashback’ voucher(s) on successful Personal Loan disbursal. The voucher shall be sent only on the registered mobile number & email entered by the customer while applying for the Personal Loan on the Website

* No other mobile number or email ID shall be considered for sharing voucher details

For Cashback equal to or more than INR 10,000

- The Cashback would be paid through online transfer to the customer’s bank account

- Customers shall share their Pan Card, Cancelled Cheque with Paisabazaar to avail the applicable cashback under this Offer

- 30% TDS would be deductible on the Cashback amount equal to or more than INR 10,000

- Any communication under this Offer will be done by or at 1800 208 8877 or cashback@paisabazaar.com

3. When will customers get cash back?

The cashback would be given to the selected eligible Customers between 1st October 2021 to 31st October 2021 post confirmation received from the disbursal bank.

4. How will the amount for cashback and winners be decided?

1. The Customer who applied for Personal loan through the Website during the Eligibility Period and subsequent disbursal would be eligible for a guaranteed cashback during under the Offer in accordance with the Cashback slabs as mentioned.

2. For cashback amount for more than INR 1,000 and up to INR 5,00,000 the following process would be followed

- All the eligible customers would be a part of a “Luck Draw” to be held on 15th September 2021

- Winners would be decided by randomly selecting the eligible customers by way of Lucky Draw for cashback up to 100% of their loan amount (Upper Limit: INR 5,00,000)

- The lucky draw would happen live through webinar and recorded

PRELIMINARY TERMS & CONDITIONS

1.Minimum loan amount disbursed to be INR 1,00,000/- or above to be eligible for this Offer.

2. This offer (“Offer”) is being run on www.paisabazaar.com including Paisabazaar mobile application (collectively “Website”), which is owned and operated by Paisabazaar Marketing and Consulting Private Limited (“Paisabazaar”, “We” or “Our”).

3. By participating in this Offer, the user (“Customer”, “You” or “Your”) agrees to be bound by these terms and conditions (“T&C”); and shall also be governed by the Terms of Use, Privacy Policy as displayed on the Website. The terms and conditions as may be applicable on gift cards including Electronic Gift Vouchers, and other relevant documentation including any modifications, alterations or updates thereof, that are published on the Website.

4. *Amazon.in is not a sponsor of this Offer. Amazon Pay Gift Cards ("GCs") are issued by QwikCilver Solutions Private Limited (“QwikCilver”). GCs may be used only for the purchase of eligible products/services on Amazon.in or other partner sites. GC balances must be used within 1 year of the date of purchase/activation and any unspent balance shall expire in 1 year from the date of purchase. GCs cannot be transferred for value or redeemed for cash. QwikCilver, Amazon Seller Services Private Limited (“Amazon”) or their affiliates are not responsible if a GC is lost, stolen, destroyed or used without permission. To redeem your GC, visit www.amazon.in/addgiftcard. For complete terms and conditions, see www.amazon.in/giftcardtnc. All Amazon ®, ™ & © are IP of Amazon or its affiliates

5. All applicable terms and conditions of the individual loan disbursing banks/ NBFCs/ Fintechs.

6. To participate in the Offer, You must do/ fulfill the following:

a) The Customer shall be citizen of India and must be 18 years or above holding a valid PAN;
b) Apply for a Personal Loan on the Website and the Loan amount shall be disbursed by the respective bank/NBFC/ Fintech against customer’s application through the Website between 00:00:00 hours 26 th June, 2021 to 23:59:59 hours 31st August, 2021..

7.The participation in the Offer is voluntary and by participating, you are deemed to have read, understood and accepted these terms and conditions

8.These terms and conditions in anyway do not alter the terms and conditions that you may have agreed for availing a service offered by Paisabazaar. In case of a conflict between these terms and Terms of Use as displayed on the Website, the latter shall prevail to the extent of such conflict

9.You acknowledge and confirm that you are aware of the nature of telecommunications/ internet services and that an email transmission may not be received properly and may be read or be known to any unauthorized persons. You agree to assume and bear all the risks involved in respect of such errors and misunderstandings and Paisabazaar shall not be responsible in any manner.

10.By participating in this Offer, it would be deemed that you have given Paisabazaar /Paisabazaar partners your consent to contact You through call, SMS or email on the details provided by You for the purpose of this Offer and other Paisabazaar service offerings.

11.Electronic Gift Vouchers ’EGVs’ are not transferable. All the Terms and conditions for Gift Cards listed on www.amazon.in/giftcardtnc shall be applicable.

12. You are solely responsible for the safety and security of the EGVs. Paisabazaar/Loan disbursing bank/NBFC/Fintech is not responsible for any acts of omission or commission if the EGV is lost, stolen or used without permission.

GENERAL TERMS & CONDITIONS

1.This Offer is exclusive for Paisabazaar customers and is not sponsored by banks/NBFCs/Fintechs.

2.It is understood and agreed that by mere participation to the Offer doesn’t not entitle the participant to claim the benefits/ prizes under this Offer. The participant should be a selected/ declared winner by Paisabazaar in conformity with the terms herein, to claim the benefits/ prizes.

3. The Offer is open to only end consumers and not to resellers.

4. This Offer is applicable on all personal loans available on Website except preapproved and pre- qualified personal loan offers.

5. This offer is not applicable for the employees of Paisabazaar and any of its group companies.

6. The EGV shall not be settled with cash in lieu by Paisabazaar, and is not transferable.

7. Paisabazaar can update, change and modify these terms without prior notice along with any FAQs or guidelines that may have been issued pertaining to the Offer, at any time and in its sole discretion.You shall not hold Paisabazaar, its group entities, or affiliates, their respective directors, officers, employees, agents, vendors, responsible for or liable for, any actions, claims, demands, losses, damages, costs, charges and expenses for a claim to have suffered, sustained or incurred, or claims to suffer, sustain or incur, by way of and/or on account of various offers offered under the Offer.Paisabazaar may suspend or terminate the Offer or your ability to participate in this Offer at any time for any reason. We reserve the right to take strict administrative or legal action, termination of your participation in the Offer, if we notice any activity that we believe is including but not limited to abusive, fraudulent, any attempt to take unfair advantage of the Offer and/or is in violation of the these terms, Terms of Use, and Privacy Policy of the Website. We reserve the right to review and investigate all activities pertaining to your action with respect to Offer and/or modify the Offer in our sole discretion as deemed fair and appropriate to us.In matters relating to the Offer hereto, the decision of Paisabazaar will be final and binding in all respect

8. The Offer and the related EGV are subject to availability.

9. Paisabazaar does not guarantee the disbursal of Personal Loan in any manner whatsoever. The decision of the loan disbursing banks/NBFCs/Fintechs will be final and binding in this regard.

10. The Offer is non-transferable and non assignable.

11. The Offer shall be and is available in accordance with applicable laws and shall not be available wherever it is prohibited under law.

12. Any tax or other liabilities or charges payable to the government or any other statutory authority/body or any participating establishment, which may arise or accrue to the customer due to provision of the Offer, shall be to the sole account of the customer

13. Participants are not bound in any way to participate in this Offer. Any participation is voluntary and the Offer is being made purely on a best effort basis.

14. The Offer shall be subject to force majeure events and on occurrence of such an event, the Offer may be withdrawn at the discretion of Paisabazaar

15. Paisabazaar shall not be responsible for any loss, injury or any other liability arising due to participation by any person in this Offer.

16.You hereby agree to indemnify, defend and keep Paisabazaar harmless against all damages, liabilities, costs, expenses, claims, suits and proceedings (including reasonable attorney’s fee) that may be suffered by Paisabazaar as a consequence of:

(i) violation of terms of this T&C by You;

(ii) violation of applicable laws;

(iii) any action or inaction resulting in wilful misconduct or negligence on Your part.

17. This T&C shall be governed in accordance with the applicable laws in India. Courts in Gurugram (Haryana) shall have the exclusive jurisdiction to settle any dispute that may arise under this T&C. Any query regarding this Offer will be entertained only till October 31st, 2021. Post such date Paisabazaar will not entertain any correspondence or communication regarding this Offer from any persons.

18. By participating in this Offer, you are deemed to have read, understood and accepted these Terms and Conditions.

19.If any provision of these terms is found to be invalid or unenforceable by a court of competent jurisdiction, such provision shall be severed from the remainder of these terms, which will otherwise remain in full force and effect.

20.This document is an electronic record in terms of Information Technology Act, 2000 and the Rules there under as applicable and the amended provisions pertaining to electronic records in various statutes as amended by the Information Technology Act, 2000. This electronic record is generated by a computer system and does not require any physical or digital signatures

हिंदी में पढ़े
Updated: 01-07-2021 13:07:09 PM

Please Note: Central Bank of India is not a Paisabazaar partner. Offers would be from partner Banks/NBFCs only.

Central Bank of India Personal Loan Highlights

Interest rateStarting at 8.45% p.a.
Loan AmountUp to Rs. 20 lakh
Loan TenureUp to 60 months
Processing FeesRs. 500
Types of LoansCent Personal Loan Scheme, Cent Liquid Scheme and Personal Loan to Pensioners

Available to salaried corporate and government employees as well as self- employed individuals/professionals, the Central Bank of India Personal Loan provides customised solutions designed to fulfil various personal financial needs. The bank currently offers unsecured personal loans of up to Rs. 20 lakh and ensures that the loan amount is sanctioned with minimal formalities and hassle. The personal loans offered by Central Bank of India can help an individual deal with various situations like medical emergencies, home renovation, marriage expenses, vacation expenditures, etc.

 

Features of Central Bank of India Personal Loan

  • Loan amount: Central Bank of India offers a maximum personal loan amount of Rs. 20 lakh. Maximum loan amount offered to an individual may however change based on salary, credit score, repayment history, employer, applicant’s age, etc.
  • Flexible tenure: The loan can be repaid with flexible repayment options. Central Bank of India personal loan tenure can range from 12 to 60 months depending on the type of scheme availed.
  • 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 multiple schemes offered under the Central Bank of India Personal Loan category that are customised to cater to different needs of different types of applicants.

Apply for a Personal Loan online with minimal documentation Apply Now

Central Bank of India Personal Loan Interest Rates

The following are the interest rates applicable to various personal loans offered by the Central Bank of India:

Type of Central Bank of India Personal LoanInterest Rate (p.a)
Cent Personal Loan Scheme9.85% onwards
Cent OD Facility to Pensioners8.45% onwards
Cent Pension Loan Scheme8.45% onwards
Cent Liquid Scheme11.15% onwards

Eligibility Criteria

1. Cent Personal Loan Scheme

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

Or

  • You should be a permanent employee of a Multinational/Indian company and should have completed at least 3 years of service.

2. Cent OD Facility to Pensioners

  • Pensioners / family pensioners drawing pension through Central Bank of India branches including Ex-staff of Central Bank of India can avail this loan

3. Cent Pensioners

  • Pensioners / Family Pensioners drawing pension through our Bank’s branches.
  • The Pensioners who are getting their pension disbursed through Treasury/DPDO (Defence Pension
    Disbursing Office) directly to the credit of their saving accounts with Central Bank of India branches are also eligible.
  • Pensioners/Family Pensioners of Central Bank of India.

4. Cent Liquid Scheme

Individuals who are the bonafide owners of the shares / debentures and are maintaining DEMAT account with Depository Participant are eligible for the Cent Liquid Scheme.

Types of Central Bank of India Personal Loan

Given below are the different personal loan schemes offered by Central Bank of India:

Cent Personal Loan Scheme:

  • Can be availed to meet any personal or domestic expenses.
  • Cent Personal Loan Scheme is offered for amounts ranging up to Rs. 10 lakh.
  • Repayment tenure can range up to 48 months.
  • Requires no collateral/ security.

Cent Pension Loan Scheme

This scheme provides financing through loans against shares and debentures. Key features of this secured personal loan are as follows:

  • It can be availed in the form of overdraft or demand loan.
  • Offered for amounts ranging up to Rs. 20 lakh.
  • Repayment tenure can range upto 12 months. However, the limit may be reviewed on annual basis and renewed on merits.

Personal Loan to Pensioners

The scheme can be availed to meet any genuine personal need other than speculation, investment in real estate or prohibited activities. It comes with the following key features:

  • It can be either availed in the form of a demand loan or overdraft with diminishing DP.
  • Offered for amounts ranging up to Rs. 10 lakh.
  • Requires the pensioner’s spouse or legal heir(s) of family pension beneficiary to join as a co-borrower.

Documents Required for Loan Application

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 ID Card, Driving License, Aadhaar
  • 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, ITR, Form 16, etc.

How to apply for Central Bank of India Personal Loan with Paisabazaar

Following are the step-by-step guide to apply for a Central Bank of India personal loan on Paisabazaar.com:

  • Fill out the online loan application form on Paisabazaar.com
  • Check offers from various prospective lenders sorted by chances of approval
  • Select the loan offer(s) from Central Bank of India (if available) or call Paisabazaar for assistance
  • Provide a few additional details about yourself on an online form so that your personal loan application can be forwarded to your chosen lender

Check your Free Credit Score to get best personal loan offers Check Now

Personal Loan Verification Process

Step 1: After the completed online application is forwarded by Paisabazaar, lender’s representative will give you a verification call to schedule pick-up of any documents that may be required. Alternately you may be able to upload digital copies of key documents online.

Step 2: Once you have provided all the required documents such as KYC, income proof, etc. documents, they are verified by the lender.

Step 3: After verification, you get another call from the bank with confirmation of the final loan amount, interest rate and tenure of your personal loan.

Step 4: Once the bank receives confirmation from your side that the loan terms are acceptable, the loan amount is disbursed.

Check Central Bank of India Personal Loan Application Status

If you have applied for a personal loan with Central Bank of India, you can check your loan application status online. You are required to enter Reference Number and Mobile Number (as on the loan application). Enter the OTP received on your registered mobile number to get the latest status of your personal loan application.

Fees and Other Charges

Given below are some of the key fees and charges associated with a Central Bank of India Personal Loan:

ParticularsCharges
Processing ChargesRs.500
Pre-payment ChargesAs per loan agreement

*Above figures excluding applicable GST

How to Login on Central Bank of India Portal

Mentioned below are the steps required to login on Central Bank of India portal:

Step 1: Visit the official website of Central Bank of India.

Step 2: Click ‘Online Banking’.

Step 3: Click ‘Internet Banking’.

Step 4: Enter your Central Bank of India Internet Banking credentials to log in.

Step 5: After successful login, you can check your account balance, apply for new loan, and check loan application status, transfer funds and also perform other banking activities.

Central Bank of India Personal Loan Statement

You can check your personal loan statement either online or offline.

  • If you have a prior relationship with the Central Bank of India, you can view or download the personal loan statement directly by logging into the Central Bank of India Internet Banking portal.
  • Alternatively, you can visit the nearest branch of Central Bank of India and request for a physical copy of the personal loan statement (charges may be applicable).

EMI Calculation

The personal loan rate of interest for Central Bank of India starts at 8.45% p.a. The table shows how monthly EMIs vary based on different loan amounts, tenures and interest rates:

Loan Amount (Rs.) and Interest Rate

Monthly EMI Payout (Rs.)

1-year loan tenure2-year loan tenure3-year loan tenure4-year loan tenure5-year loan tenure
5 lakh @ 9.55% p.a.Rs. 43,853Rs. 22,969Rs. 16,028Rs. 12,574Rs. 10,513
10 lakh @ 11% p.a.Rs. 88,382Rs. 46,608Rs. 32,739Rs. 25,846Rs. 21,742
20 lakh @ 11.25% p.a.Rs. 1.76 lakhRs. 93,448Rs. 65,715Rs. 51,935Rs. 43,735

Comparison of Central Bank of India Personal Loan vs. Other Lenders

The following is a comparison of Central Bank of India personal loans vs. PL offers from other top lender in India:

Comparison CriteriaCentral Bank of IndiaICICI BankAxis BankHDFC BankCiti Bank
Interest RateStarting at 8.45% p.a.Starting at 11.50% p.a.Starting at 12.00% p.a.Starting at 11.50% p.a.Starting at 9.99% p.a.
Tenure12 months to 60 months12 to 60 months12 to 60 months12 to 60 months12 to 60 months
Loan amountUp to Rs.20 lakhUp to Rs.20 lakhRs.50,000 to Rs.15 lakhUp to Rs.40 lakhUp to Rs.30 lakh
Processing FeeRs.500 plus GSTUp to 2.25% of loan amount plus GSTUp to 2% of loan amount plus GSTUp to 2.50% of the loan amount + GSTUp to 3% of the loan amount + GST

Central Bank of India Customer Care

  • You can call on 1800-22-1911 (toll free) to get assistance over the phone
  • You can visit the nearby Central Bank of India branch in-person for assistance

Also Read Central bank of India Personal Loan Customer Care.

Best Personal Loan offers from top banks are just a click away Apply Now

Benefits of Applying for a Personal Loan on Paisabazaar

Mentioned below are some of the important benefits of applying for personal loan at Paisabazaar

  • It is convenient to apply for personal loan at Paisabazaar from the comfort of home or office
  • Quick processing and easy documentation helps in quick disbursal of personal loan
  • You can easily compare and choose different lenders through given interest rates, charges and fees
  • Paisabazaar’s customer care team is highly dedicated to provide end-to-end assistance to customers

Important Aspects

Here are some of the important aspects you need to consider before availing personal loan:

  • Before you apply for personal loan, interest rates and charges should be compared online to get the best deal
  • Check your credit score or CIBIL score before applying for a personal loan. Low credit score may lead to rejection of your loan application.
  • Borrow as per your need only and not just because it is easily available.
  • Always evaluate the complete cost of the loan

FAQs

Q1. What is the maximum tenure of a personal loan offered by Central Bank of India?

Personal loans offered by Central Bank of India currently have a maximum tenure of 60 months.

Q2. How can I utilise the personal loan availed from Central Bank of India?

Personal loans offered by Central Bank of India come with flexible end-usage and can be availed to deal with any personal financial need.

Q3. Can I reapply for Central Bank of India personal loan if my application gets rejected?

You will have to contact the bank to check the same. However, it is usually advisable that you wait for 6 months after rejection of the previous application before reapplying with the same bank.

Q4. Can I apply for Central Bank of India personal loan offline?

Yes, you can visit the nearest branch of Central Bank of India to apply for a personal loan.

Q5. Do I get a special low interest rate if I have a high CIBIL Score?

If you have a high CIBIL score of 750 or more, you may be designated as a lower risk borrower which may make you eligible for a lower interest rate personal loan. However, you do need to contact Central Bank of India for details regarding the personal loan interest rate that may be applicable to you.

Central Bank of India Personal Loan
(4/5 ) 2 Reviews
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Jun 24, 2019
3/5
Gives you guided information

Paisabazaar provided me with guided informations which helped me in making the right choice for my personal loan.

Jun 16, 2019
5/5
Organised and planned

Paisabazaar is a well organised portal with lots of personal loan offers with reasonable interest rates.

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