Central Bank of India Home Loan

Having a house that you can call your own is a major life goal for many. However, relying on savings alone isn’t always possible, which is why many opt for the home loan. A trusted lender catering to this need is the Central Bank of India. The Central Bank of India Home Loan is a preferred choice of many when buying or constructing their home. 

This is primarily due to its attractive interest rates and favourable terms. Here are some of the Central Bank of India Housing Loan details:

Before applying for a home loan, you must look at the various rates and charges levied by the lender. All financial institutions charge certain fees on home loan facilities, and you need to account for these when borrowing. 

Here is a table containing details about the Central Bank of India Home Loan interest rate and other applicable charges: 

Disclaimer: The interest rate and charges mentioned in the table above are indicative and might change depending on the applicant’s eligibility.

In order to choose a financially viable home loan, it is advisable to compare different lenders and their offers. The following table presents the interest rates offered on home loans by partner lenders on Bajaj Markets. 

Compare these rates with the Central Bank Home Loan interest rate to select the best-suited loan for you:

Disclaimer: The interest rates provided in the above table depend on the lender’s policies and are subject to change.

To save yourself from paying excess money as interest, you must research the lenders and their loan offers before applying. However, if you have decided to avail of Central Bank of India Home Loan, remember that home loans require proper financial planning. 

A Central Bank of India Home Loan EMI calculator can come in handy if you wish to set a budget as per the loan’s repayment obligations. With a Central Bank Home Loan EMI calculator, you can also know your monthly outflow and optimise it accordingly.

Using a home loan EMI calculator also helps you compare various loan offers. This way, you can even shift your existing loan to a lender offering affordable interest rates. All you have to do is opt for a home loan balance transfer facility. This helps you zero in on a lender offering affordable home loan interest rate.

The Central Bank Home Loan documents are those you need to submit along with your loan application form. Here are some of the documents required for the Central Bank of India Home Loan:

• Proof of Identity: Aadhaar card, PAN card, passport, driving license, Voter ID Card, etc.

• Proof of Residence: Aadhaar Card, utility bills, Voter ID card, driving license, passport, etc.

• Income Proof: Form 16 or IT returns and the latest salary slips

• Other Documents: Valuation certificate, NOC from the housing society, agreement for construction, sale agreement, or title deeds

To be eligible to get a home loan from the Central Bank of India, you will have to fulfil certain requirements. Here are the Central Bank of India Housing Loan eligibility requirements:

• You must be an Indian citizen 

• Your age must be at least 18 years

• You can avail of this loan individually or with a maximum of three joint owners

The Central Bank of India allows you to avail of the following types of lending options under the Home Loan Schemes:

• Cent Home loan: A standard home loan offering, accessible to all.

• Cent Grih Lakshmi: An instrument designed for women, and to promote access to women borrowers.

• Cent Home Double Plus Scheme: An instrument that comes with a term loan, and a home loan with the overdraft facility. 

• Cent Home Loan Scheme for Third or Fourth House: An instrument for individuals to either construct or acquire a third or fourth flat or house. 

Applying for a Central Bank of India Home Loan online is simple and easy. Follow these quick steps to apply for it online:

• Visit the official website of the Central Bank of India

• Hover your cursor over the ‘Retail Loans’ category on the top dashboard

• Select the ‘Housing Loan’ option

• Choose the type of loan depending on your financial requirements

• Click on the ‘Apply Now’ Button

• Enter your basic details and submit them

• Attach the required documents and submit them to finish the application process

• The bank will review your application form and documents before approving your loan request

For the resolution of any query or complaint, you can reach out to the Central Bank of India customer care at these numbers:

• Toll-free Number: 1800 3030

• Toll-free Number for Senior Citizens: 1800 203 1911

• Alternative Number: 02241903900 (carries charges)

A home loan is a great way to procure the funding needed to purchase your own house. The Central Bank of India Home Loan is a smart choice and an attractive option due to the many features on offer.