The Central Bank of India is an Indian public sector bank. It is one of our country's oldest banks, with its headquarters in Mumbai. The bank has a presence in all of India's states and union territories, and its reach goes to the most remote places in the country.
The bank offers several products and services to its national and international customers that are tailored to their specific needs and requirements.
Car loans are among the credit products offered by the Central Bank of India (vehicle loans). These loans are among the most popular lending options on the market and are well-liked by consumers. The Central Bank of India's car loan details, as well as the Central Bank of India car loan interest rates charged, are shown below.
The Central Bank of India gives car loans with low car loan interest rates to the Central Bank of India ranging from 9.00% to 9.90%. The 'Cent Vehicle' automobile loan scheme is appropriate for self-employed individuals, salaried employees, independent entrepreneurs, agriculturists, NRIs, Companies, and firms with a solid source of income.
Here are the features of the Central Bank of India car loan-
Here is the table to show the Central Bank of India car loan rate of interest 2024:
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Central Bank Car Loan Interest Rate |
9.00% - 9.90% |
To complete the application for a car loan, applicants must provide specific papers along with the application form. These documents are in the form of basic KYC paperwork, certifying the applicant's identity and residence.
Along with these documents, the applicant must also present documentation proving his or her income eligibility. The applicant's documents must be presented in the order listed below-
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1) ID Proof |
In this regard, the applicant may submit any of the following documents as Proof of identification.
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2) Bank Statement |
As part of the paperwork process, the applicant must also present a bank statement. |
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3) Address Proof |
Any of the following documents could be utilized as address proof when applying for a loan.
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4) Income Proof |
The documentation connected to the applicant's income proof differs depending on whether the applicant is salaried or self-employed. The documentation required in each case is listed below.
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There are two easy ways in which you can apply for a car loan from the Central Bank of India-
1) You can visit the closest Central Bank of India branch and get the help of a representative.
2) You can also visit the official portal, fill out the application online and submit it with the required documents.