Central Bank of India Personal Loan

Central Bank star star star star star 3.75 / 5.04 users

Central Bank of India personal loan can help you manage your financial requirements, with ease. The bank has numerous personal loan schemes to offer its customers helping them fulfil their personal financial requirements. You can use the funds to pay for anything, be it purchase of gadgets, home repair, small expenses, big-ticket expenses, medical care, travel trip etc. The bank has many personal loan plans, suitable for particular needs.

Our website, Loanbaba.com will provide you all details about personal loan Central Bank of India.

Central Bank of India Personal Loan Details Updated on 19th September 2018

Loan Amount

Maximum Rs. 10 lakhs

Loan Tenure

Up to 48 months

Interest Rate

Starts at 11%

Why Choose Central Bank of India Personal Loan?

  • The advantage of this loan is its same interest throughout the duration.
  • Simple documentation is needed and the personal loan in Central Bank of India then gets processed faster.
  • The customers can pay off the loan in easy instalments every month and can repay it via auto debit or PDC or ECS.

Features of Personal Loans at Central Bank of India

The following key points will help you understand the features and benefits of the personal loans:

Processing charges

Minimum Rs. 500 with added applicable tax

Duration of loan

Up to 4 years

Requirement of guarantor

Depends on applicant’s profile

Types of Central Bank of India Personal Loans

Central Bank of India has personal loan schemes for professionals and salaried individuals. The amount taken as loan can be used for either multiple or specific purposes.

  1. Personal Loan Scheme for Corporates
  2. These loans are offered to permanent employees working in big corporations and are customers of the Central Bank of India.

  3. Personal Loan Scheme for Non-corporates
  4. Loans under this scheme are offered to help people comply with their domestic requirements. Individuals working in railways, schools, government institutions, hospitals, etc., having completed at least five years of their service can avail this loan. Also, to avail the loan, the individual should be routing their salary via the Central Bank of India.

  5. Cent Ratna Scheme
  6. Loans under this scheme are offered to permanent employees of Maharatna or Navratna or any major PSUs. The major condition to fulfil to avail the loan is the amount cannot be used for speculation purposes.

  7. Cent Personal Gold Loan
  8. There are three different options to avail the Cent Personal Gold Loan. You can avail it as a demand draft, an overdraft counter to the pledge of gold coins that are sold to the Central Bank of India or an overdraft counter to the pledge of gold ornaments with the purity of 22 carats.

    The demand draft works as a loan without regards to a fixed maturity period that can be termed back by the Bank with a notice period of 24 hours.

  9. Personal loan for Pensioners
  10. As the name suggests, the loan if offered to retirees who get their monthly pension credit to any of the Central Bank branches. They can use this amount for any of their legal credit requirements.

  11. Cent Teacher
  12. Central Bank customers who get their salary credited for serving as permanent teachers, permanent college employees, and permanent employees in school educational institutions, universities, research institutes, etc. are covered under the Cent Teacher loan scheme.

  13. Cent Suvidha
  14. The Central Bank offers these loans to employees who get their salary credited to the any of the Central Bank branches, helping them fulfil their personal needs.

  15. Cent Kalyani

Loans under this scheme are offered to women entrepreneurs to help them generate a feasible and regular employment.

Why Apply for Central Bank of India Personal Loan Online?

At Loanbaba, you can compare and apply for personal loans online. You can check out several personal loan schemes by Central Bank of India and go through all their features such as quantum of loan, amount of loan, processing fees, interest rates, and other conditions, at one page. You can also quickly apply for Central Bank of India Personal Loan online on the bank’s official website without having to visit the branch. It is simple and easy, and you can upload all the required documents online. Disbursal is done at the soonest, and you can keep a track of your loan application on the website.

Central Bank of India Personal Loan Interest Rates

Personal Loan Central Bank of India interest rate starts at 11% but varies as per individual profile. Keep a check on this page to note the updated Central Bank of India personal loan interest rate for the current year.

Central Bank of India Personal Loan Eligibility Calculator

Personal loan eligibility may differ from one candidate to another. You can also use free-of-cost Central Bank of India personal loan eligibility calculator at Loanbaba.com. The eligibility criteria for Central Bank of India personal loan are discussed below:

  • The applicant for personal loan Central Bank of India needs to meet the age requirement and possess all necessary identity and income proof required to apply for the loan.
  • He/she meet the requirement for credit score and should not be under too many debts.

Central Bank of India Personal Loan FAQs

Below provided are important questions about personal loan Central Bank of India.

  • addFAQs
    1. What are the concessions given on personal loan interest rates?
    2. If you apply for Central Bank of India’s pension loan and Cent Ratna scheme, then you may get concession of 50 basis points on the interest rate of the loan, if you operate and maintain pension drawing account, salary account, respectively, at the branch.

    3. What is the concession on rate of interest for Cent Teacher personal loan scheme?
    4. If you have liquid security such as fixed deposit, Kisan Vikas Patra, or National Savings Certificate to cover the personal loan, then a concession of one percent can be offered on the interest rate.

    5. What are the eligibility criteria for Cent Kalyani Scheme?

    If you are a woman who is at least 18 years of age, then you can apply for Cent Kalyani scheme. There shall be no income ceiling.

Central Bank Personal Loan Review


Personal Loan
star star star star star 14.0/5
No compromises, best personal loan in Delhi service by Central bank.
Mumbai September 15, 2018
Personal Loan
star star star star star 15.0/5
Central bank provided me an instant response in regards to my personal loan application. The processing charges were minimal. It is a trusted service from their team.
Mumbai September 15, 2018
Personal Loan
star star star star star 14.0/5
My experience with Central bank for personal loan in Bangalore was a good one. My schedule was so hectic that I chose to apply online for the loan at loanbaba and was not disappointed by either of their service. Both loanbaba and Central were professional in their service.
Mumbai September 15, 2018
Personal Loan
star star star star star 12.0/5
personal loan by Central bank was perfect, but the turnaround time is something they can work upon.
Mumbai September 15, 2018

Subscribe to our newsletter

close
Top

Did not find what you were looking for?

Browse through our Knowledge Bank for more articles.

Loanbaba Blog

Check your Loan eligibility!

Apply for a Loan online: