Central Bank of India
The Central Bank of India was established in 1911. It has 3656 branches and 178 extension counters in its network.
The Central Bank of India, founded in 1911, was the first Indian commercial bank entirely owned and managed by Indians. The establishment of the bank was the culmination of years of Sir Sorabji Pochkhanawala’s, the bank’s founder’s, dream.
Central Bank of India Offerings
- Internet Banking:-
- Able to open RD or FD account
- PPF service
- Check out statements viewing
- Advantage of pay utility bills
- Virtual Credit Card
- Able to purchase insurance online
- Allows users to pay tax online
- e-Locker facility
- Prompt shopping
- Mobile Banking
- Credit Card
- Debit Card
- Saving Account
- Government Business Scheme
- Public Provident Fund (PPF)
- Fixed Deposit Account
- Recurring Deposit Scheme
- Loan against Property
- Loan to Senior Citizen
- Education Loan
- Other Loan and Scheme
- Business Gold Loan
- Government Sponsered Scheme
- Prime Minister’s Employment Generation Programme (PMEGP)
- Credit Linked Capital Subsidy Scheme (CLCSS)
- Loan for the agricultural sector
Central Bank of India Loans Offered
The Central Bank of India provides education loans to students studying in India and abroad, with preferential rates for female students. Interest rates start from 6.85 %, with generous loan amounts that help students cover a wide range of course-related expenses.
There are various kinds of Education loans that the Central Bank Of India is providing – (8.50% – 9.00%) – 100% of the collateral security.
- Cent Vidyarthi – IIMs and other institutes (6.85%) – Rs.40 lakh
- Scheme for financing Executive MBA (6.85% – 8.25%) – Rs.20 lakh
- Cent Skill Loan (8.65% – 8.70%) – Rs.1,50,000
Cent Car Loan
The Central Bank of India offers car loans with low-interest rates, ranging from 9% to 10%. The ‘Cent Vehicle’ car loan scheme is appropriate for self-employed individuals, salaried employees, Companies, firms with a stable source of income etc.
Cent Personal Loan Scheme
Personal loans are available from the Central Bank of India with interest rates starting at 9.85 % and can be obtained up to Rs.10 lakh for a loan, and the repayment term is up to 48 months. On personal loans, the bank charges a processing fee of Rs.500 plus applicable service taxes.
Cent Gold Loan
The Central Bank of India offers the Cent Gold Loan scheme to help you meet your financial needs. This gold loan scheme has a simple application process requiring you to pledge gold and take out a gold loan at a low-interest rate.
Other than agricultural needs, you can use this gold loan scheme to meet personal expenses such as marriage, medical, and education costs.
Central Bank of India Gold Loan
The loan is intended to cover short-term personal expenses like medical bills, airfare, school tuition, and wedding costs, among others. It is also suitable for agricultural purposes. The facility is available in a Demand Loan secured by gold jewellery pledged with the bank. Gold assets should have a purity of at least 22 carats. When pledging gold coins, the maximum amount per borrower is 50 grams. As collateral, only gold coins from the bank are permitted.
- The loan amount can range between Rs. 10,000 and Rs. 20 lakhs.
- The loan can be used for a period of up to 12 months.
- The retained margin is 30% of the gold’s current market value at the time of loan sanction.
- The processing fee is 0.5% of the loan amount, plus taxes and appraiser fees if applicable.
- Loan amount: A personal loan of up to Rs 20 lakh can be availed. However, the maximum loan amount may vary depending on salary, credit score, repayment history, employer, applicant’s age, and other factors.
- Flexible repayment options: The loan can be repaid in a variety of ways. A Central Bank of India personal loan can range from 12 to 60 months, depending on the scheme chosen.
- Fast processing: You can apply from the comfort of your home or office and ensure quick processing if qualified for the eligibility criteria and submit all the necessary documents.
- Various schemes: The Central Bank of India Personal Loan category offers a variety of schemes that can be customized according to the borrower’s need.
- The bank provides loan up to Rs.75 lakh for new vehicles and Rs.10 lakh for used vehicles. This sum is sufficient to purchase the majority of the top models on the market.
- The Central Bank of India provides financing for up to 90% of the on-road cost, including insurance, road tax, and registration fees.
- For new cars, the bank provides flexible loan terms of up to 84 months. You can choose the loan term based on your ability to repay and your monthly budget.
- Also, the Central Bank of India is a rare provider of car loans to customers who have completed their 18th year of age.
Central Bank of India Credit Card
Central Bank of India, one of India’s most well-known banks, provides a diverse range of credit products to its customers. With competitive interest rates on loans and credit cards, the Central Bank of India is named as reckon in the credit card. In addition, customers can enjoy various benefits on Central Bank of India credit cards that are tailored according to their specific needs.
Types of Credit Cards available in the Central Bank of India:-
- Visa Platinum Credit Card
- Titanium Credit Card
- MasterCard World Credit Card
- RuPay Platinum Credit Card
- RuPay Select Credit Card
Central Bank of India Net Banking
The most important aspect of CBI is its net banking or internet banking, which offers various simple services. For example, you can quickly transfer money from one location to another by using this service. To use the Central Bank of India’s NetBanking, users must have a username and password. This service is only available in a few CBI branches, but users can also create their usernames using their mobile phones.
Customer Care Number
CBI customer service is available 24*7. The Central Bank of India’s customer service phone number is listed here: 1800-22-1911.
The Central Bank of India also has two other national toll-free numbers, which are as follows:
Central Bank of India Customer Complaints
The Central Bank of India’s customer service phone number is 1800 22 1911, and their email address is firstname.lastname@example.org. You can also find more contact information on the official website. The official website can be found at https://www.centralbankofindia.co.in/.
How to Open a Savings Account in the Central Bank of India
Step 1:- Visit the bank’s ‘online savings account opening portal.
Step 2:- You can easily open a savings account online with the help of an online portal.
Step 3:- Customers can also use this portal to check the status of their savings account opening application form.
Step 4:- After completion of the form, your saving account will be opened.
You can also directly go through the nearest branch the opening your savings account.
How to Open a Current Account in the Central Bank of India
Step 1:- Visit Vijaya Bank Account Branch
Step 2:- Filling up Account Opening Form (AOF) details, like name, address, contact number, email id, PAN, type of account to be opened, nominee’s name, etc.
Step 3:- Mandatory Documents for Account Opening Form (AOF)
Step 4:- Verification of Documents by the Banker
Step 5:-Minimum deposit into your Savings Account in accordance with your Savings Account requirements.
Step 6:-Get your bank’s cheque book, passport, debit card, and any other necessary documents.
Central Bank of India FAQs
✅ Is there any security required to obtain a personal loan from the Central Bank of India?
Except in the case of the Cent Doctor scheme, where the property or building will be hypothecated to the bank, you do not need to provide any tangible security to obtain a personal loan from the Central Bank of India. However, in some other cases, you will be required to provide an employer’s commitment to prove your status.
✅ What is the Central Bank of India’s transaction limit?
Customers can send up to Rs. 2 lakhs per day. There is no limit on the number of transactions and the maximum limit per transaction is Rs. 50,000.
Table of Contents
- 1 Central Bank of India
- 2 Central Bank of India Offerings
- 3 Central Bank of India Loans Offered
- 4 Central Bank of India Gold Loan
- 5 Personal Loan
- 6 Car Loan
- 7 Central Bank of India Credit Card
- 8 Central Bank of India Net Banking
- 9 Customer Care Number
- 10 Central Bank of India Customer Complaints
- 11 How to Open a Savings Account in the Central Bank of India
- 12 How to Open a Current Account in the Central Bank of India
- 13 Central Bank of India FAQs