Central Bank of India Marriage Loan

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Max. Loan Amt.Upto 25L
Rate of Interest9.99% - 12.5%
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Central Bank of India Marriage Loan Highlights

Interest rates
  • Cent Personal Loan: 11.90%-12.65% p.a.
  • Cent Pensioners Loan: 10.85% p.a.
Loan amount
  • Cent Personal Loan: Up to Rs 20 lakh
  • Cent Pensioners Loan: Up to Rs 10 lakh
Repayment tenure
  • Cent Personal Loan: Up to 7 years
  • Cent Pensioners Loan: Up to 5 years
Processing Fees
  • Cent Personal Loan: Waived till 31 March 2025 (Nil for Defence Personnel)
  • Cent Pensioners Loan: Nil

Summary of Central Bank of India Marriage Loan Interest Rates

Central Bank of India Personal Loan interest rate starts from 11.90% p.a, while the interest rates for its Pensioner Loan scheme are 10.85% p.a.

Type of Central Bank of India Personal Loan Interest Rates (p.a.)
Cent Personal Loan 11.90%-12.65%
Cent Pensioners 10.85%

Central Bank of India has not specified offering differential interest rates for personal loan schemes based on their loan applicants’ credit score, income, EMI/NMI Ratio, work experience, etc. However, most lenders consider these factors for setting the personal loan interest rates for applicants availing loans for financing their wedding related expenses.

Processing Fees and Charges for Central Bank of India Marriage Loan

The fees and charges for availing Central Bank of India Marriage Loan are as follows:

Loan Product Interest rates (p.a.)
Processing fees
  • For Cent Personal Loan: Waived till 31 March 2025 (Nil for Defence Personnel)
  • For Cent Pensioners Loan: Nil
Documentation Charges
  • For Cent Personal Loan
    • Up to Rs 2 lakh: Rs. 270 plus GST
    • Above Rs 2 lakh: Rs. 450 plus GST
    • For Defence Personnel: Nil
  • For Cent Pensioners Loan: Rs 500 plus GST

Central Bank of India Marriage Loan Eligibility Criteria

Loan applicants planning to avail Central Bank of India Marriage Loans can also opt for its personal loan or pension loan scheme to meet their wedding related expenses. The personal loan eligibility criteria set for loan applicants availing marriage loans from Central Bank of India Marriage Loan applicants are as follows:

Cent Personal Loan Scheme

  • Permanent employees of the state/central government, schools, hospitals, railways, municipal bodies, with 1 complete year of service.
  • Permanent/Confirmed employees of Indian companies/MNCs with at least 3 years of service.

Cent Pensioners

  • Pensioners/family pensioners drawing salary through Central Bank of India.
  • The pensioner’s spouse or legal heir of the family pension beneficiary must join as co-borrower.

Although the bank has not disclosed the role of credit scores in determining the Central Bank of India Marriage Loan Eligibility for its marriage loan, most lenders consider this factor while deciding the eligibility for availing personal loans. Loan applicants who have managed to improve their credit scores have a better chance of availing the Central Bank of India Personal Loan variants offered by the lender. Prospective marriage loan applicants should also use the Personal Loan EMI Calculator to determine the EMIs and loan tenures of their personal loan based on their repayment capacity.

Documentation for availing Central Bank of India Marriage Loans

Central Bank of India has not mentioned any specific documentation for its personal loan scheme. Additionally, there is no separate scheme for availing marriage loans from the Central Bank of India. However, the documents required for marriage loans are usually the same as regular personal loans for most lenders. The personal loan documents required by most lenders are mentioned below:

Identity proof (any one)

  • PAN card
  • Aadhar card
  • Voter ID
  • Driving license
  • Passport

Proof of residence (any one)

  • Passport
  • Voter ID card
  • Driving license
  • Utility bill (electricity, telephone, water or gas bill)

Proof of income/job continuity for salaried applicants

  • Salary slips (last 3 months)
  • Bank account statement (last 3 to 6 months showing income credit)
  • IT returns
  • Form 16
  • Current employment certificate
  • Current job appointment letter (if more than 2 years have been spent in the same organisation)
  • Experience certificate (previous employer’s relieving or appointment letter along with job certificate)

Proof of income/continuity of business for self-employed applicants

  • Income tax returns of last 2 years along with computation of income duly attested by a Chartered Accountant
  • Audited balance sheet and Profit & Loss accounts, including tax audit report, if applicable
  • Copy of GST registration
  • Company registration license
  • Shop establishment proof

Note: The bank may ask for additional documents based on the loan applicant’s profile.

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