Central Bank of India Personal Loan Interest Rate

• Loan Amount: You can borrow up to Rs. 10 lakhs under the Cent Personal Loan Scheme, depending on your eligibility. The highest loan amount for Cent Personal Gold Loan is Rs. 40 lakhs, based on your need and the value of the gold. The maximum limit under Special Cent Covid is Rs. 5 lakhs for salaried personnel and retirees and Rs. 3 lakhs for non-salaried applicants.
  
  
• Interest Rates: The Central Bank of India's personal loan interest rates range from 9.85% to 10.05% per annum for the Cent Personal Loan Scheme, 9.05% for the Gold Loan Scheme, and 8.50% for the Special Cent Covid Scheme.
  
  
• The processing charge for the Gold Loan Scheme is 0.75% of the loan amount. The Special Cent Covid plan has no processing cost.
  
  
• Term: The Central Bank of India (CBI) personal loan has a maximum tenure of four years for Cent Personal Loan, twelve months for Gold Loan, and five years for Special Cent Covid.
  
  
• Personal loan schemes are classified into three forms by the Central Bank of India: Cent Personal Loan, Cent Personal Gold Loan, and Special Cent Covid.
  
  
• Processing Charge: Under the Cent Personal Loan Scheme, the processing fee is 0 for defense personnel and 1% of the loan amount for all other applicants.

There are different types of Central Bank of India personal loans, and they are-

This is a regular personal loan scheme that can be availed to meet the personal or domestic needs of the borrowers. The loan amount of this scheme is 20 times the gross salary, and it is also subject to the highest amount of Rs. 10 lakhs. The tenure for this loan is a period of 4 years. The Cent personal loan scheme has a processing fee of 1% of the loan amount.

This is a personal loan scheme that can be availed to meet the personal needs of pensioners other than for any speculative reasons or prohibited activities. The loan amount will be 18 times the monthly pension which is also subject to a maximum limit of Rs. 10 lakhs. The repayment tenure for this loan is a period of 5 years, and it does not have any processing fee.

Here is the Central Bank of India personal loan rate of interest for the two personal loan schemes-

Following are eligible for the Central Bank of India Personal Loan Schemes-

• Permanent personnel of the State/Central Government, Schools, Hospitals, Railways, and Municipal Bodies having at least one year of service.
• Employees of Indian firms or MNCs with at least three years of service.

Pensioners and family pensioners receive an income from the Central Bank of India.

• A passport, PAN Card, Voter ID Card, Driving License, and Aadhaar are all acceptable forms of identification.
• Ration Card, Passport, Driving License, Bank Account Statement, Electricity Bill, Sale Deed/Property Purchase Agreement (for owned properties), Telephone Bill, and Aadhaar Card are all acceptable forms of address evidence.
• Income documentation includes bank account statements, salary slips, ITRs, Form 16s, and other documents.