Central Bank of India Personal Loan

Central Bank of India Personal Loan Key Features Jan 2021

Eligibility Criteria Details
Age 21 – 58 Years (at the time of loan maturity)
CIBIL Score Minimum 750 or above
Central Bank of India Personal Loan Interest Rate 9.85% per annum
Lowest EMI per lakh Rs. 2529
Tenure Up to 60 months
Central Bank of India Personal Loan Processing Fee Rs. 500
Prepayment Charges NIL
Part-Prepayment N/A
Maximum Loan Amount ₹20 Lakhs

All About Central Bank of India Personal Loan


Central Bank of India Personal Loan Interest Rates and Charges

Central Bank of India Personal Loan Interest Rate 9.85%  per annum
Central Bank of India Personal Loan Processing Charges Rs. 500
Prepayment Charges NIL
Part-Prepayment Charges N/A
Stamp Duty As per state laws

Central Bank of India Personal Loan Status

You can check the status of your personal loan by;

  • Visiting the branch in person and asking your loan officer.
  • Contacting the customer care number of the bank.

Central Bank of India Personal Loan Eligibility Criteria

Personal Loan Eligibility criteria is as follows:

CIBIL Score Criteria 750 and Above
Age Criteria 21 – 58 years
Min Income Criteria Rs 20000/month
Occupation Criteria Salaried/Self-Employed

Salaried Applicant:

  1. The age required for the salaried applicant is a minimum of 21 years to a maximum of 58 years.
  2. The income required for the salaried applicant for the Metropolitan city is Rs. 20,000 and for the Non-Metropolitan cities, the income required is Rs. 15,000.
  3. Work Experience of the applicant should be of 3 years and at least 6 months in the current company.
  4. The applicant’s salary should come to the respective bank accounts.
  5. For a Central Bank of India Personal Loan, the CIBIL score required is more than 750 to get the approval of your Loan.

Self-Employed Applicant:

  1. The age of the self-employed applicant should be minimum of 25 years to a maximum of 65 years.
  2. The Income Tax Return should be of at least Rupees 2.5 lakh per annum, and it should be filed from the last 3 years.
  3. For the CBI Personal Loan, the CIBIL Score required is more than 725-750. A good CIBIL Score means maximum funding.
  4. Before availing of a Central Bank of India Personal Loan, your past debts should be clear.
  5. The business should be running well for the last 3 years if the applicant owns a business.

Central Bank of India Fees and Other Charges

Category Details
Central Bank Personal Loan Interest Rate 9.85% per annum
Central Bank Personal Loan Processing Fee ₹ 500 or 1% of the loan amount, for higher amounts.
Min ₹ 1000 and Max ₹ 25000
Prepayment  No prepayment is allowed until 12 EMIs are paid
Pre-closure No foreclosure is allowed until 12 EMIs are paid
Prepayment Charges 13-24 months: 4% of loan principal outstanding
25-36 months: 3% of loan principal outstanding
>36 months: 2% of loan principal outstanding
Stamp Duty As per state laws
Cheque Bounce Charges ₹ 550/cheque +  GST
Floating Rate of Interest Not Applicable
Overdue EMI Interest 2% p.m.(on overdue amount)
Amortization Schedule Charges ₹ 200 + GST

Central Bank of India Personal Loan Documents Required

Proof of Identity Copy of:
> Passport
> Driving License
> Aadhar Card
> Voter ID Card
Proof of Address Rent Agreement (Min. 1 year of stay)
Utility Bills
Passport (Proof of permanent residence)
Ration card
Proof of Income > ITR: Last two Assessment years
> Salary Slip: Last 6 months
> Bank Statement: Last 3 months

Central Bank of India Personal Loan EMI Calculator

EMI Calculator

Central Bank of India Personal Loan Compared to Other Banks

Bank Interest Rate Tenure Loan Amount & Proc Fee
Central Bank of India 9.85% 12 to 60 months Up to Rs. 20 lakh / Rs. 500 or 1% of Loan Amount
HDFC Bank 11.25% to 21.50% 12 to 60 months Up to Rs. 40 lakh / Up to 2.50% of the loan amount
Bajaj Finserv Starting from 12.99% 12 to 60 months Up to Rs. 25 lakh / Up to 3.99% of the loan amount
Axis Bank 15.75% to 24% 12 to 60 months Rs. 50,000 to Rs. 15 lakh / Up to 2% of the loan amount
Citibank Starting from 10.99% 12 to 60 months Up to Rs. 30 lakh / Up to 3% of the loan amount
ICICI Bank 11.50% to 19.25% 12 to 60 months Up to Rs. 20 lakh / Up to 2.25% of the loan amount

Other Loan Products from Central Bank of India

Central Bank of India Gold Loan Central Bank of India Car Loan Central Bank of India Home Loan Central Bank of India Business Loan
Central Bank of India TWL Central Bank of India LAP Central Bank of India Credit Card Central Bank of India Education Loan

Why should you apply for the Central Bank of India Personal Loan with Dialabank?

  • Dialabank will help you choose the best financial products for your needs.
  • We make it convenient and simple for you to decide what loan you should avail of.
  • We provide you with the lowest interest rates available in the market.
  • Dialabank is your trustworthy financial advisor and friend.’
  • We have helped thousands of satisfied people to avail themselves of the type of loans they needed without any issue.
  • Call us at 9878981166 to avail of the Central Bank of India Personal Loan.

How to Calculate EMIs for Central Bank of India Personal Loan

You can easily calculate your EMIs on your CBI personal loan using;

  1. Amount of the Loan
  2. Rate of Interest
  3. Tenure

You just need to input these values in the calculator below to find the exact amount payable each month.

EMI Calculator

Central Bank of India Personal Loan Processing Time

Central Bank of India can take a week or two to process your personal loan application. As personal loans are unsecured, banks have to carefully examine all your documents and details before approving.

Central Bank of India Personal Loan Pre-closure charges

Central Bank of India lets you foreclose your personal loan without any foreclosure charges. You can pay back your loan amount anytime after the first EMI.

Documents Required for Pre-closure of Personal Loan 

Generally, the following documents are required to foreclose your CBI personal loan:

  • A valid photo identity proof
  • Loan Account Statement
  • Cheque/ demand draft/ cash to make the payment

Central Bank of India Personal Loan Foreclosure Benefits 

Given below are a few key benefits of foreclosing your Central Bank personal loan:

Foreclosure / Full Prepayment

  • Helps you save on the overall interest payout.
  • Frees you from the burden of regular loan repayments.

Partial Prepayment

  • It enables you to save on the interest component.
  • You also have the advantage of either paying a reduced EMI amount or having a shorter loan tenure.

Central Bank of India Prepayment Facility

Central Bank of India also offers the prepayment facility to help the customers pay off the entire outstanding or a part of it. If you have a surplus amount of money in hand and meeting the below criteria then you can pay a part of your principal outstanding amount to reduce the same. This will also help in saving interest accrued on the principal amount. Know more about this facility below.

  • Prepayment will be allowed subject to the successful payment of the first 12 EMIs
  • Prepayment will be allowed a maximum of twice during the entire tenure of the loan
  • Prepayment is allowed only once a year
  • At any point in time, the prepayment will not exceed 25% of Principal Outstanding

Charges to be paid on Prepayment

  • There are no Prepayment charges imposed by the CBI and you can repay your loan earlier if you have successfully paid your first 12 EMIs.

Pre Calculated EMI for Central Bank of India Personal Loan

Loan principal @ interest Tenure
1 year 2 years 3 years 4 years 5 years
1 lakh @ 9.25% Rs. 8,766 Rs. 4,589 Rs. 3,201 Rs. 2,501 Rs. 2,098
5 lakh @ 10.95% Rs. 44,179 Rs. 23,292 Rs. 16,358 Rs. 12,911 Rs. 10,859
10 lakh @ 11.5% Rs. 88,545 Rs. 47,771 Rs. 32,905 Rs. 26,016 Rs. 21,917
15 lakh @ 15% Rs. 1.35 lakh Rs. 72,730 Rs. 51,998 Rs. 41,746 Rs.35,685

Central Bank of India Personal Loan for Salaried Employees

Central Bank offers Personal Loan for Salaried Employees at attractive rates of interest. The amount that you get a loan depends on the Company that you work for, The take-home salary of the employee, and the city of residence of the employee. CBI offers these loans for a tenure of 12-60 months and provides instant approval along with funds to pre-approved customers.

Central Bank of India Personal Loan for Self Employed Individuals

Central Bank of India’s Personal Loan for Self Employees is a loan product offered to self-employed individuals and in need of funds. The bank provides them with attractive rates of interest on their personal loan and tenure of 12-60 months. However, as compared to Salaried Employees, you have to present more documents here as you need to provide the bank with sufficient documents related to your business to prove its continuity as well as your steady income.

Central Bank of India Personal Loan for TCS Employees

  • Exclusive personal loans with a reasonable interest rate of 9.85% p.a.
  • EMI for personal loans starts at Rs.2178 per lakh when terms and conditions are met.
  • The hassle-free documentation process for TCS employees.
  • Pre-approved personal loans for eligible TCS employees.
  • Personal Loan Interest rate starting at 11.99% p.a for superbike loans.
  • Great offers on home loans with an interest rate of 9.45% p.a and discount interest rate for women at Rs.9.40% p.a.

Central Bank of India Moratorium Process

The processes to stop your loan EMIs at CBI are as follows-

  • Visit the Central Bank website or use their mobile app.
  • Click on the link where the option of moratorium period is popping up.
  • On the application page, mention your registered mobile number, name, and email ID.
  • After that enter your DOB and select the loan type.
  • Enter your loan number and also mention your EMI amount
  • After that make a decision and choose suitable service to avail.
  • Click on the EMI deferment option that says I agree to pay the accrued interest on the remaining balance
  • Click on the ‘Submit’ button.
  • The bank will check the details thoroughly and process your moratorium request
  • You’ll be given a reference upon the successful completion of the process on your registered mobile number and email ID

However, if you don’t wish to defer EMI, you should click on the second option after the deferment option. This makes sure that EMI payments are scheduled with no extra interest charged on them.

Central Bank of India representatives can also get in touch with you via WhatsApp or call regarding the moratorium process.

Central Bank of India Personal Loan Special Pricing 

If a customer is looking for INR 15 lakh of the loan amount or more than that below rates would be applicable.

Loan Amount IRR Processing Fee (+GST)
Loan amount >=15 lakh* 10.50% INR 3999

*Terms & conditions apply

This offer is not applicable for Top-up/ Enhancement/ Existing loan amount closure.

If a customer is looking for a Balance transfer and a fresh loan of above INR 10 lakh above, the below offer is available.

NTH Loan Amount IRR Processing Fee (+GST)
>=50000 Loan amount >=10 lakh* 10.50% INR 3999

*Terms & conditions apply

  • Not applicable on Existing loan closure
  • Not applicable for Credit card BT

How to Manage Personal Loan

Here are the 4 tips that will help you manage your loans:

1. Pay On-Time – The first step is to avoid late fees and penalties. The best way to do that is by paying your monthly payments on time every month. This also hits the credit score. These are needless and all too common consequences that will work against your financial condition. If you have just taken a personal loan or are about to, the best way to manage your loan is by making a monthly payment on your loan as soon as you receive the loan. By being a payment ahead of your installment plan you will have a buffer against a missed payment.

2. Pay More Than Your Minimum –  Paying beforehand is a good option for managing your plans but paying a little extra every month keeps you ahead of your loan term and provides you with some other financial bonuses. Moreover, paying extra on your loan reduces the length of the repayment plan. This will help you clear the debt and allows you to regain your financial independence sooner. It will also reduce the rate of interest you owe and thus, saving you money in the long run. Paying off your debts faster also leads to an improvement in your credit score. A lower credit score will benefit you in several ways, like dropping down payments and rate of interest.

3. Consolidate Your Loans – For debtors managing multiple personal loans, consolidation could be the best way to simplify your debt repayment. Debt Consolidation is when you take a large loan to repay all the other loans you have taken. So, instead of paying multiple lenders every month with different rates of interests and needs, one can make a single payment to one provider. Debt Consolidation is helpful if you can save an interest rate on a new loan that is lower than the average interest rate of the earlier loans. The only disadvantage that lies here is that one will likely end up having to reimburse the debt quicker than before. Before consolidating your debt, make sure that you can make the payments on a new loan. This may also help to reimburse large portions of your loans on credit rather than with a single loan, consolidating it into more controllable pieces.

4. Credit Score – Last but not least, always keep a close watch on your credit score while reimbursing a personal loan. The credit score plays a major role in finances and has an important relationship with the loans taken out. How you manage your loans is reflected in your credit score. On the other hand, falling behind on your payments will subordinate the credit score. Thus, a higher credit score is important.

Different Personal Loan offers by CBI

Central Bank of India Doctor Loan

Doctors and medical professionals can apply for a personal loan from the Central Bank of India to meet their personal and professional financial needs. Dialabank helps you choose the right financial product for all your needs.

Central Bank of India Marriage Loan

Weddings are a joyous occasion but can also put a burden on your finances. Central Bank of India provides low-interest rate personal loans to help you fulfill your dreams.

Central Bank of India Personal Loan for Government Employees

Government employees can apply for a Central Bank of India’s personal loan to meet all their personal expenses. The bank has special rates and offers for all the government employees.

CBI Personal Loan Offers for Government Employees

Offers By Government Number of Companies Processing Fee(% of the Loan Amount IRR
Miniratna, Navratna, and Maharasthra 55 1.50% 13.49%
11.49%
10.99%
Pensioner All 1.50% 14.75%
Employees from the Railway Department All 1.50% 16.50%
15.00%
14.25%
CISF, CRPF, ITBP, SSB and BSF All 1.50% 14.75%

State and Central Government Officers:

Section Salary Processing charge IRR
Government Officer Division A (GA) and Division B (GB) NTH>24k 2% 16.75%
NTH>35k 2% 15%
NTH>50k 1.75% 14.75%

Central Bank of India Personal Loan for Pensioners

Government employees who receive a pension can apply for a personal loan to meet their fulfill their post-retirement financial needs. The bank has special offers for pensioners with pension accounts in the Central Bank of India.

Central Bank of India Personal Loan Balance Transfer

If your existing personal loan is the cause of your strained finances, you can apply for a Central Bank of India personal loan balance transfer with Dialabank to get a low-interest personal loan and free yourself from all your worries.

Central Bank of India Personal Loan Top Up

You can apply for a Central Bank of India personal loan top-up facility and extra money on your existing personal loan without the need to apply for a new loan. Dialabank will help you choose the best deals on all your personal loan offers.

Central Bank of India Personal Loan Overdraft Facility

An individual overdraft is a credit office that licenses you to pull out an all-out as and when required. You can in like manner reimburse the got out totally at whatever point the condition is ideal. From this time forward, it is possibly the most favored credit choices that benefitted to meet changing individual supporting necessities unbounded.

Apply for an overdraft office as a Bank for a startling new unforeseen development. The adaptable improvement office has all the goliath highlights of a slight overdraft credit.

Central Bank of India Home Renovation Loan

CBI offers home improvement loans for people who wish to have their homes renovated. This personal loan would fund essential repairs or help the borrower bring new fittings, fixtures, and furniture into their home. Some of the key features of the Central Bank Home Renovation Loan are:

  • The interest rate of the Central Bank of India’s Home Renovation Loan starts at as low as 11.25%
  • To renovate their house, individuals can qualify for a loan amount of up to Rs. 20 Lakh.
  • The home renovation loan from Central Bank includes minimum paperwork that renders the entire loan process hassle-free
  • Usually, the loan amount is credited to the account within 72 hours after the bank approves your application.

Central Bank of India Holiday Loan

Central Bank of India Holiday Loan will assist you to prepare your dream vacation with minimal hassle. This personal loan from the Central Bank of India will facilitate a range of vacation expenses, including booking a flight ticket, lodging in a hotel, guided tours, etc. The principal features of CBI’s Holiday Loan are:

  • The interest rates on holiday loans start at 11.25% p.a.
  • An amount of up to Rs 20 Lakh can be used conveniently so that a financial crisis will not ruin your dream holiday.
  • Simplified and Minimal paperwork helps fund your holiday easily and conveniently.
  • Quick processing and disbursement of credit, which is credited to your account directly.

Central Bank of India Fresher Funding

Most unsecured personal loans are targeted at individuals with a regular income, but Central Bank’s Fresher Funding is different. This loan choice from CBI is designed to support newcomers, i.e. recent graduates who are seeking their first job. Some main features of the personal loan from Central Bank Fresher Funding include the following:

  • Sum of up to Rs 1.5 lakh loans
  • The candidate is expected to be at least 21 years of age.
  • The interest rate for Fresher Funding depends on the profile of the loan borrower, the credit history/score of the applicant, age, and location.

Central Bank of India NRI Personal Loan

Central Bank provides NRIs solely with a personal loan, recognizing the hopes and desires of NRIs. The primary loan candidate must be an Indian citizen and the co-applicant NRI must be a close relative. The following characteristics include NRIs Personal Loan

  • Central Bank offers NRIs up to Rs. 10 lakh in private loans with flexible end-use
  • The interest rates for NRI Personal Loans start at 15.49% p.a.
  • For a term of up to 36 months, the loan is.

Central Bank of India Personal Loan Preclosure Online

CBI enables a Personal loan borrower to make a pre-closure or a pre-payment of a loan. However, you will be able to prepay your CBI Personal Loan only after 12 months after you have procured your loan and after paying 12 EMIs plus the foreclosure charges that may be applicable. If you meet this requirement, you can repay your personal loan before the original due date and close your loan early.

Central Bank of India Personal Loan Process Steps

Step 1: Determine your requirement
Figure out why you need a Personal Loan and how much you need. For example, you may need a loan to fund your wedding or to renovate your home. And you may need just Rs. 1 lac or Rs. 10 lac.

Step 2: Check loan eligibility
Once you know how much you need, you should check whether you are eligible. You can visit the Central Bank of India website and check your Personal Loan Eligibility Criteria online, to find out how much you can borrow as a Personal Loan. Central Bank offers loans up to Rs. 20 lac.

Step 3: Calculate monthly installments 
Use an online EMI tool to calculate your approximate loan repayments every month. You can modify the interest rate and tenure to match your monthly income, like on the Central Bank Personal Loan EMI Calculator. Central Bank of India offers pocket-friendly EMIs on all its Personal Loans starting at Rs. 2149 per lac * (T&C).

Step 4: Approach the bank 
You can apply for a Personal Loan with Central Bank in various ways: Via Net Banking, online on the Central Bank website, at an ATM, or by visiting the nearest branch.

Step 5: Submit documents 
Next, find out what documents are required for a Personal Loan. You will usually need income proof (bank statements, salary slips or IT returns), address proof, and ID proof. Hand over copies of your Personal Loan documents at the bank.

Wait for funds to be remitted to your account. Central Bank of India disburses funds for pre-approved loans to customers in 10 seconds*, and for non-CBI Bank customers in 4 hours.

That’s how to get a Personal Loan in 5 easy steps!

Central Bank of India Personal Loan Prepayment Charges 

If you are a salaried applicant, you can pre-pay your Central Bank of India Personal Loan only after paying 12 equated monthly installments completely.

There are no Prepayment charges imposed by the CBI and you can repay your loan earlier if you have successfully paid your first 12 EMIs.

How to apply for a Central Bank of India Personal Loan

Central Bank of India Personal Loan

Apply for a Central Bank of India Personal Loan by:

  1. Visiting Dialabank
  2. Fill the form with your details.
  3. Wait for our representative to call and assist you through the process.
  4. Share your documents and get instant approval.

Personal Loan Verification Process

  • Upon submission of the completed online application by Dialabank, the representative of the Central Bank of India will send you a verification call to schedule the collection of relevant loan documents.
  • After you have provided all the documentation needed, such as KYC, proof of income, etc the lender verifies them.
  • After validation, with confirmation of the final loan amount, interest rate, and tenure of your personal loan, you will receive another call from the bank.
  • Once the bank receives confirmation from you that the terms of the loan are appropriate, the balance of the loan is disbursed.

Check Your Central Bank of India Personal Loan Application Status

There is currently no online portal for checking the status of your CBI personal loan application. Hence, you can use the following ways to perform the task:

  • Central Bank of India’s e-Banking service
  • Contacting the Central Bank of India Customer Care by calling the 24×7 toll-free number 1800 22 1911.
  • An in-person visit to a nearby Central Bank of India branch.

How to Login to Central Bank of India’s online Portal

  • Visit the portal of Central Bank e-Banking
  • Fill in the details needed, and then press ‘Login’
  • You can review your current loan information once you are signed in, apply for a new loan, check your eligibility for a new loan, etc.

How to check the Central Bank of India’s Personal Loan Statement?

By following the steps given below, clients can download the bank’s personal loan statement:

  • Go to the bank’s official website.
  • From the drop-down list, pick ‘Service Requests’.
  • Select ‘Personal Loan Related on the corresponding page that opens, under the ‘Loans’ menu.
  • Then, click on ‘Request for Loan Account Statement’.
  • Use your user ID and password to log in, or use your registered mobile number and OTP to use the personal loan statement of the bank.

Central Bank of India’s Personal Loan Restructuring (COVID-19)

To alleviate the impact of the COVID-19 pandemic to a certain degree, a 6-month moratorium on different term loans was announced. Upon completion of the 6-month moratorium, CBI announced the RBI-mandated one-time benefit from Central Bank’s personal loan restructuring. This mechanism is intended to provide continuing relief to those borrowers who, due to the continuing financial distress of the pandemic, are still unable to begin repayment of their daily EMI.

The loan settlement mechanism implemented by the Central Bank of India includes an additional moratorium of up to 2 years or an extension to the existing repayment period to decrease monthly EMI payments. It should be recalled, of course, that the restructuring of your personal loan to the Central Bank of India will result in additional interest rates above those applicable to the original loan. Thus this relief tool can be used only as a last resort.

Central Bank of India Customer Care

  • You can dial on helpline number 1800 22 1911 anytime.
  • Callback Request: You can likewise demand a get back to by visiting the bank’s site
  • You can reach the Central Bank of India online on their website.

Benefits of Applying for Personal Loan at Dialabank

Based on interest rates, lenders, loan tenure, and others, Dialabank provides easy access and uses the platform to compare personal loan offers. Some main advantages of applying for a personal loan on Dialabank.com are the following:

  • Easy Accessibility: It is easy to apply for Dialabank personal loans from the comfort of your home or office.
  • Quick Processing: Fast processing and swift reporting help to use personal loans with minimal hassle.
  • 24 X 7 Support: The dedicated customer service team provides end-to-end support for smooth online application processing
  • Know EMI in a flash: With the individual credit EMI Calculator on DialaBank.com you can check the EMIs you would be paying on a personal advance even before you apply for one. It will assist you with acquiring the reasonable sum that you can without much of a stretch reimburse and have a helpful reimbursement plan. 
  • Hassle-free process: No need to visit the bank branch to request a personal loan that saves time and effort

How to Get the Best Offer on Central Bank of India Personal Loan

You can get the best close to home financing costs from the Central Bank of India subject to an evaluation of your credit sum, pay, other commitment organization you work with, and advance residency. The accompanying elements decide the individual credit pace of interest you can hope to get from CBI:

  • Credit Amount – This is the sum acquired by a borrower from the bank. By and large, banks offer lower financing costs for higher sums. Central Bank of India offers credits between ₹ 50,000 and ₹ 20 Lakh.
  • Compensation – Income characterizes your ability to reimburse the credit. More significant compensation section people are offered credits at lower financing costs. The loan cost of the bank fluctuates with your net month to month pay.
  • Manager Category – Central Bank has an inner rundown of organizations falling into classifications that are positioned from high to low organization classes dependent on the organization’s size, notoriety, and existing relationship with the bank. Representatives who have a place with organizations in higher organization classes get appealing limits and low financing cost advances.
  • Relationship with the Bank – Central Bank offers extraordinary rates, offers, and charges to the current record holders of the bank. The individuals who have dealt with their records and made all the installments on time in the past will get the advantage of a low CBI advance loan cost.
  • Credit Tenure – Personal advances are of more limited residency that goes from a year to 60 months as they are taken to meet their quick prerequisites.
  • Reimbursement Capacity – Before giving an advance to the borrower, Central Bank checks the reimbursement limit of the borrower. The bank confirms the reimbursement limit of the client through CIBIL as it has the reimbursement history of past credits taken. CIBIL additionally catches data of charge card charges installment.

How does the Central Bank of India Personal Loan work, Here is the process:

Maximum Annual Percentage Rate (APR) 9.99% to 22.5%
A representative example of the total cost of the loan, including all applicable fees Here is an illustration of the total cost of the loan:
Total amount borrowed: ₹ 1,00,000
Time period: 12 Months to 60 Months
Central Bank of India Personal Loan Interest Rate: 9.85% to 21.00%
Processing Fee payable to Upto ₹ 500
Fee payable to MyLoanCare: NIL
Total Monthly Cost – From ₹ 2,149 for 60 Months ₹ 1,00,000 loan at 10.50% (lowest rate, longest time period) to ₹ 9,359 for 12 Months ₹ 1,00,000 loan at 22.00% (highest rate, shortest time period). This is inclusive of principal repayment.
Annual Percentage Rate (APR) of charge including all applicable fees: 10% to 22.5%
Total cost payable over loan tenure: ₹ 8,278 for 12 Months loan to ₹ 31,463 for 60 Months loan

Important Aspects

Some of the significant factors that need to be addressed when applying for personal loans are as follows:

  • Before applying for a loan, make sure that you review your credit score. For a successful personal loan application, normally 750 and above is considered an ideal credit score
  • Read the terms and conditions and the fees and charges associated with your personal loan.
  • Compare personal loans with different lenders through various options such as loan principal, interest rate, loan tenure, and others.
  • Before applying for personal credit, always review your monthly EMI and select the tenure wisely. If your EMI is too high, your chance of default increases, while too small an EMI increases your overall interest payout.

FAQs About Central Bank of India Personal Loan

✅ How to apply for a Central Bank of India Personal Loan?

There are two ways to apply for a personal loan with the Central Bank of India. You can visit the nearest Central Bank of India branch or by submitting a simple form with Dialabank. Through Dialabank, you get the satisfaction to apply from anywhere and get loan approval faster.

✅ What is the Interest Rate for Central Bank of India Personal Loan?

The interest rate for a personal loan is 9.99% per annum for the Central Bank of India.

✅ What is the minimum age for getting a Personal Loan from the Central Bank of India?

You must be 21 years old for getting a personal loan from the Central Bank of India.

✅ What is the maximum age for getting a Personal Loan from the Central Bank of India?

Your maximum age for availing of a personal loan from the Central bank of India is 60 years.

✅ What is the minimum loan amount for the Central Bank of India Personal Loan?

The minimum loan amount for the Central Bank of India Personal Loan has no limit.

✅ What is the maximum loan amount for the Central Bank of India Personal Loan?

Central Bank of India let you take Rs. 10 lakhs maximum loan amount for your personal loan.

✅ What are the documents required for the Central Bank of India Personal Loan?

You must have an Aadhaar card/Voter ID, PAN card, salary slips/ITR, and two recently clicked photographs that are required for a personal loan from the Central Bank of India.

✅ What is the Processing Fee for Central Bank of India Personal Loan?

The processing fee charged by the Central Bank of India to avail personal loans is 1% of the Loan Amount.

✅ How to get a Central Bank of India Personal Loan for Self Employed?

The Central Bank of India provides special offers for the self-employed to aid them financially. You should have the ITR files of the last 2 years for your income proof.

✅ What is the Maximum Loan Tenure for Central Bank of India Personal Loan?

The maximum loan tenure for a personal loan from the Central Bank of India is 48 months.

✅ What should be the CIBIL Score for Central Bank of India Personal Loan?

The CIBIL score required for availing a personal loan from the Central Bank of India is a minimum of 750 and above.

✅ Do I have a preapproved offer for the Central Bank of India Personal Loan?

You can get a pre-approved offer for a personal loan from the Central Bank of India through Dialabank. You just have to fill a form, and we will check out best suited for you.

✅ How to calculate EMI for Central Bank of India Personal Loan?

You can calculate your personal loan EMI for the Central Bank of India through the EMI calculator accessible on Dialabank’s website.

✅ How to pay Central Bank of India Personal Loan EMI?

Your Central Bank of India Personal Loan EMIs is automatically take off from your bank account. You also use the net-banking to pay your personal loan.

✅ How to close the Central Bank of India Personal Loan?

You must have to pay the outstanding personal loan amount before closing your loan and then receive no dues certificate from the Central Bank of India.

✅ How to check Central Bank of India Personal Loan Status?

You will require to visit the Central Bank of India branch to know your personal loan status. Alternatively, you can visit Dialabank and fill a simple form to allow us to do work for you.

✅ How to close Central Bank of India Personal Loan Online?

The following processing for the closing of personal loan from the Central bank of India:

  • Visit the net-banking page of the Central Bank of India.
  • Login using your details.
  • Pay for your personal loan and save the transaction receipt.

✅ How to pay Central Bank of India Personal Loan EMI Online?

You can pay your EMI of a personal loan through the net-banking of the Central Bank of India. Dialabank allows you offers and deals by comparing different banks. You just fill a form and the rest will do by the bank.

✅ How to check Personal Loan Balance in the Central Bank of India?

You should contact the customer care number of the Central Bank of India to check your personal loan balance. If you are focusing on low-interest personal loans, you can visit Dialabank and fill a form for Personal Loan Balance Transfer and allows us to do work for you.

✅ How to download the Central Bank of India Personal Loan Statement?

The personal loan statement of the Central Bank of India can be downloaded using the Central Bank of India mobile banking app. You can visit the online platform of Dialabank and fill a simple form to know about the special offers.

✅ How to Top Up Personal Loan in Central Bank of India?

If you require a top-up on your personal loan from the Central Bank of India, you have to visit the bank branch and contact the loan officer. Just fill the form with Dialabank at Personal Loan Top Up.

✅ What happens if I don’t pay my Central Bank of India Personal Loan EMIs?

Central Bank of India may charge you with a penal interest if you are unable to pay your personal loan EMIs. You can apply for a balance transfer using Dialabank to get low-interest personal loans.

✅ How to find the Central Bank of India Personal Loan account number?

You will have to contact your Central Bank of India loan branch to know your personal loan account number. You may also fill out the form available at Dialabank and let us do all the work for you.

What is the Central Bank of India personal loan customer care number?

Contact 9878981166 for any queries.

What are the Central Bank of India Personal Loan pre-closure charges?

Central Bank of India lets you foreclose your personal loan without any foreclosure charges. You can pay back your loan amount anytime after the first EMI.

✅What is the Central Bank of India’s personal loan closure procedure?

  1. Visit the bank with the complete set of documents (as mentioned above).
  2. You may be required to fill a form or write a letter requesting pre-closure of the Personal Loan account.
  3. Pay the pre-closure amount.
  4. Sign the required documents, if any.
  5. Take acknowledgment of the balance amount you have paid.

✅What is the Central Bank of India Personal Loan Overdraft Facility?

An individual overdraft is a credit office that licenses you to pull out an all-out as and when required. You can in like manner reimburse the got out totally at whatever point the condition is ideal. From this time forward, it is possibly the most favored credit choices that benefitted to meet changing individual supporting necessities unbounded.

UCO Bank Personal Loan News

Central Bank of India announces concession to teachers for Personal Loans

This move comes as a piece of great news for all educational employees. The CBI introduced lowers rates of interests of 9.60%, instead of the usual 9.85%, for personal loans, also exempting them of the processing fees of Rs. 500.

Central Bank of India Q3 profit rises 

In the latest press release by the Central Bank of India, their Q3 profit rose by 6% to Rs. 165 Cr. year-on-year (Y-o-Y).

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