Central Bank of India Personal Loan

Central Bank of India gives loans for personal purposes like family holiday tour, medical treatment, education expenses, marriage etc. Repayment tenures are up to 48 months. The Central Bank of India has simple eligibility criteria and documentation for personal loan.

Eligibility

• Permanent Employees of Railways, Government institutions central and State Government, schools, Hospitals etc, having completed 5 years of service.

Loan Amount

• 15 times of Gross Salary.
• Max. Rs. 2,00,000/-. Net take home pay after taking into account the proposed loan installment should not be less than 50% of the gross salary

Guarantee
Third party guarantee by a person having worth at least equal to loan amount and acceptable to Bank.

Repayment

1. 48 Months -EMI or within the left over service whichever is less.
2. Installments to commence one month after disbursement
3. Post-dated cheques to be given for entire repayment period in case salary is routed thro’ bank, in other cases employer’s undertaking is taken.

Other Terms & Conditions

• Salary Certificate and other Documents/Papers should be duly authenticated by the employer.