Central Bank home loan EMI for every Rs. 1 lakh loan starts at Rs. 686. The applicable EMI amount as per the total loan taken can be easily calculated by using an online EMI calculator.
Central Bank home loan interest rates range between 6.85% p.a. to 7.10% p.a. for a maximum loan tenure of 30 years. The bank grants housing loans of up to 90% of the property value and a maximum loan amount of up to Rs. 30 lakhs.
What are the features of Central bank home loan?
Some of the noteworthy features of Central bank home loan are:
- The loan can be availed by Individuals/Group of Individuals/NRIs/Cooperative Societies
- The bank currently charges an interest rate of 6.85% p.a. onwards
- The applicable processing fee is 0.50% of the total loan amount up to a maximum of Rs. 20,000+tax
- The bank grants a loan amount of 90% of the house value and a maximum of up to Rs. 30 lakhs
- Applicants above 18 years of age can apply for this loan
Individuals who are planning to apply for a home loan from the Central Bank of India must estimate the potential monthly instalment amounts. For this, they can use a home loan EMI calculator. Knowing the applicable home loan EMI in advance can help in planning personal finances to avoid future loan repayment issues.
Central Bank of India offers a range of housing loan products such as the Cent Home Loan, Cent Home Loan to employees, Cent Home Double Plus scheme, Cent Combo, and Cent Home Loan scheme.