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Central Bank of India Home Loan

Central Bank of India Home Loan is one of the most popular loan products offered by the bank to those home buyers who need some financial assistance to buy a home. The bank is well known for offering a complete range of loan products for several purposes. Central Bank of India home loans are available in different options pertaining to the needs and financial ability of the borrowers. Home loans offered by the bank can be availed for a number of purpose the include;
  • For construction, acquiring new house or existing flat that are less than 30 years
  • To carry out extension with the existing house or flat
  • To make repairs, renovation or alteration in the existing house or flat
  • Get maximum loan amount of Rs. 25 lakh to buy plot for building a house
Central Bank of India offers Direct Housing Finance Scheme at affordable interest rates to low and moderate income families dreaming to finance a home. With this home loan term, borrowers can obtain up to 75% of the overall cost of construction or purchase of a new or existing house/flat. 75% of the repairing, renovation and alteration cost of the existing flat or house can be availed up to a maximum of Rs. 10.00 lakh. Lastly, this loan option offer 75% of the total cost for purchase of plot up to a maximum of Rs. 25 lakh.

Central Bank of India Home Loan Interest Rates

The bank offers some of the best possible interest rates available in the loan market. The following chart shows the prevailing rate of interest with several home loan tenures offered by Central Bank of India.

 

 

Housing Loan upto Rs.30 lakh

Housing Loan above Rs.30 lakh

Tenure

Fixed

Floating

Fixed

Floating

Up to 5 years

10.00%

BPLR - 3.25%

10.75%

BPLR-2.75%

Over 5 years and less than 10 years

NA

BPLR - 2.75%

NA

BPLR - 2.25%

10 years and above

NA

BPLR - 2.25%

NA

BPLR - 1.75%

Central Bank of India Home Loan Eligibility

The bank offer home loans only to those applicants who are of at least 18 years at the time of the application. To be eligible for the loan program, applicants are required to be salaried individuals, self employed persons or any other professional having a stable source of income and a legal identification. Central Bank also offer Cent Home Loan Plus which offers a maximum loan amount of up to 5 lakh that can be used for refurbishment, renovation, furnishing or purchase of furniture, Home theatre, LCD TV, etc. Before applying for any particular home loan scheme, use the home loan calculator tool to find out the best affordable loan program. For details on repayment and processing charges, visit the official bank website.
 
Central Bank of India provides a wide variety of loan options including home loans for eligible borrowers. Know how to make the loan application successful.

Website:https://www.centralbankofindia.co.in/
 

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