Central Bank of India

Central Bank of India is more than 100 year old bank which also ranks as one of the largest commercial banks in India. It is government-owned centralized commercial banks with its headquarters in the commercial capital of the country.

The bank operates through large nexus of 4703 branches, 5000 ATM's, and 29 satellite branches spread across the country along with 4 extension counters spread across 27 states and union territories in the country. The bank has an international presence with its branches in Hong Kong and Nairobi. The Central Bank of India has a joint venture the government of Zambia and the Zambian government holds 40% shares in Central Bank of India.

Central bank of India is one of 19 Public Sector banks in India to receive recapitalization finance from the government. The bank’s assets as on 31 March, 2015, stand more than 283030 million. The total business that the bank did amounted to approximately 45,05,390 million in the last fiscal year.

Central Bank of India provides a wide ranging financial services, list of major corporate clients bears the testimony of the banks deep rootedness in the market with its clients such as ICICI, IDBI, UTI, LIC, HDFC and also most of the major corporate houses in the country.

Loan Products offered by Central Bank of India

TUFS Scheme

It is also known as technology up gradation fund scheme for jute and textile industries which have been introduced by Government of India and Ministry of Textiles.

Cent Liquid Scheme

It is a scheme for finance against Shares and Debentures.

Cent Doctor Scheme

It is a scheme for doctors to establish their own set up such as clinics, laboratories, hospitals etc. and also expansion of the same.

Personal Loan Scheme

- For Corporates

- For Non-corporates

- Cent Ratna scheme for regular employees of any Maharatna, Navratna, or any other Major PSUs. This scheme is not for tentative purpose

- Cent Personal Gold Loan

- Cent Teacher loan

- Personal Loan for pensioners

- Cent Suvidha is a personal loan scheme

Reverse Mortgage Loan Schemes

- Cent Swabhiman Plus Scheme can be availed against mortgage of any self acquired /occupied/ owned residential property by the borrower.

- Cent Swabhiman scheme for pensioners to streamline genuine expenditure and payments

Mortgage Loans

- Cent Trade for any lawful trading or providing services of any kind

- Cent Mortgage for any personal or business need excluding real estate or capital market requirements.

- Cent Mortgage Scheme for Educational Institutes for meeting the operational expenditures, and excluding the real estate or capital market requirements.

- Cent Rentals against future lease rentals for financing meeting personal as well as business requirements.

Loan For Women

- Cent Women for generating constant and sustainable employment opportunities for women empowerment.

SME Retail Loan

- Cent Sahyog for availing credit facilities in MSE sector.

Education Loans

- Cent Vidhyarthi scheme for studies in India as well as abroad

- Cent Vidyarthi-Vocational Education and Training

- Special Education Loan Scheme to IIM Students

- Scheme for financing Executive MBA

- Central Scheme of Interest Subsidy on Education Loans to students belonging to Economically Weaker Section

- Education Loan scheme for A rated universities/ colleges/ institution is an educational loan scheme for pursuing higher education in India & Abroad

Vehicle Loans

- Cent Vehicle helps you purchase a brand new or a second hand two-wheeler or a four wheeler

Home Loan Scheme

- Cent Home Loan Scheme for construction or acquiring of new home/ flat or for acquiring existing home/flat which has remaining life of applied loan tenure plus 10 years

- Cent Home Loan Plus scheme can be availed by existing Housing Loan Borrowers who have been paying their EMIs on a regular basis for at least 3 years for the purpose of renovation or furnishing of your house or adding on accessories in your home sweet home.

- Cent Home Loan Scheme for Employees of Central /State Govt/PSUs

- Scheme of Interest Subsidy for Housing the Urban Poor (ISHUP)

- Scheme of 1% interest Subvention on housing loan

Cent Combo Scheme for purchase of home and vehicle

Scheme for IDA Members

- Cent Vidhyarthi for IDA members and their children

- Cent Dentist Scheme for IDA members

- Cent Vehicle Scheme for IDA members

- Direct Housing Finance Scheme for IDA members

MSME Loans

- Pradhan Mantri Mudra Yojna

- Cent Mortgage

- Cent Trade

- Cent Doctor

- Cent Prosperity

- Cent Construction Equipment Finance

- Cent Contractor

- Cent Food Processing Plus

- Cent Protsahan Scheme

- Mukhya Mantri Yuva Swarozgar Yojna Scheme for Madhya Pradesh

Agricultural Loans

- Cent Kisan tatkal Scheme

- Cent Vermicompost Scheme

- Cent Solar Light Scheme

- Cent Solar water Heater scheme

- Cent Solar pumpset scheme

- Cent kisan Vehicle

- Cent Gold and Silver Scheme

- Cent Estate Purchase Scheme

- Cent Agri Farmhouse scheme

- Cent Dairy Scheme

- Cent Poly House, Green House, shade net house scheme

- Cent SHG bank linkage scheme

- Cent Kisan Sathi Scheme

- Cent Kisan Tractor Scheme

- Cent Kisan Credit Card Scheme

- Cent Kisan Gold Card Scheme

- Cent Agri Land purchase Scheme

- Cent Agri business and Agri Business Center

Eligibility and Documents for Salaried

Products	Documents list	Eligibility criteria and locations
Personal Loan	Pan Card Application Form with photographs Proof of Identity Address Proof Income Proof Latest Bank Statement Existing Loan Tracks	• Permanent Employees of Railways, Government institutions central and State Government, schools, Hospitals etc, has completed 5 years of service and drawing salary through our branches
Loan Against Property	Pan Card Application Form with photographs Proof of Identity Address Proof Existing Loan Tracks	• Loan against mortgage of immovable property located in Metro / Urban / Semi Urban/Rural Centres only those Rural centers where title deeds can be mortgaged for other than Agricultural purpose. • Individuals (age 21 years to 65 years) as well as Business Concerns (Corporate or non-corporate). Maximum 60 years for salaried class. The Minimum Gross Annual Income for Individual borrowers is Rs. 2, 00, 000/-
Education Loan	Proof of Fees structure Admission Latter Basic Qualification & mark-list Application Form with photographs Proof of Identity Address Proof Income Proof Latest Bank Statement Existing Loan Tracks	• The student should be an Indian National. • Should have secured admission to a higher education course in recognized institutions in India or Abroad through Entrance Test/ Merit Based Selection process after completion of HSC(10 plus 2 or equivalent). • Where there is no entrance test/merit based selection process and admission is purely based on the marks scored in qualifying examinations, the student should have scored minimum 50% marks in qualifying examination. (10% relaxation for SC/ST categories)
Home Loan	Pan Card Proof of Identity Address Proof Income Proof Latest Bank Statement Existing Loan Tracks	• Individuals , Groups of individuals , who have attained 18 years ( completed) as on date of application and including Cooperative Societies , having a legal, identified and regular source of income either singly or jointly with Parents, sons, spouse. • NRI are also eligible for Housing loan,

FAQs for Salaried

What is the Maximum personal loan amount?

Ans. Twenty times of gross salary subject to maximum of Rs.500,000/- and minimum net home pay of 40% of gross salary after taking into consideration payment of statutory dues, repayment of various loans including the installment of proposed loan.

What is the repayment period for personal loan?

Ans. • 48 Months - EMI or within the left over service whichever is less. • Installments to commence one month after disbursement.

What is the quantum of mortgage loan?

Ans. • For salaried persons, 36 times of gross monthly income of applicant and for other than salaried persons, 3 times of gross annual income as per latest IT returns. • Maximum Rs.50.00 lac for property located in rural area and maximum Rs.200.00 lac for property located in other areas.

What is the Maximum Education Loan amount?

Ans. • Rs. 10 lacs for studies in India. • Rs. 20 lacs for studies abroad. • The ceilings fixed for studies in India and abroad correspond to the limits fixed by the RBI for treatment as priority sector lending. • No maximum ceiling if loan amount secured by 100% collateral security.

What is the repayment period for education loan?

Ans. • Repayment to commence 12 months after completion of studies or 6 months after securing job whichever is earlier. • Maximum repayment period up to 10 years for loans up to Rs.7.50 lakh • Maximum repayment period up to 15 years for loans above Rs.7.50 lakh. Repayment on EMI basis.

Eligibility and Documents for Self Employed

Products	Documents list	Eligibility criteria and locations
Professional Loan	Pan Card Proof of Identity Address Proof Income Proof Latest Bank Statement Existing Loan Tracks	• Individuals/Partnership/Companies/Trusts. • Applicants / Promoters should have recognized qualification in any branch of medical science like MBBS /BAMS/BDS/BHMS or any recognized degree in Physiotherapy / Radiology etc and should have minimum practical experience required to establish Hospital/Nursing Home/Clinic. • Partnership - Out of total partners at least 50% should be qualified and registered medical practitioners. • Company - At least 50% of the promoter / directors should be qualified and registered medical practitioners. • Trusts - Trusts should be registered and having power to borrow. At least one of the trustees should be qualified medical professional and Registered Medical Practitioner
Loan Against Property	Pan Card Application Form with photographs Proof of Identity Address Proof Existing Loan Tracks	• Loan against mortgage of immovable property located in Metro / Urban / Semi Urban/Rural Centers only those Rural centers where title deeds can be mortgaged for other than Agricultural purpose. • Individuals (age 21 years to 65 years) as well as Business Concerns (Corporate or non-corporate). Maximum 60 years for salaried class. The Minimum Gross Annual Income for Individual borrowers is Rs. 2, 00, 000/-
Education Loan	Proof of Fees structure Admission Latter Basic Qualification & mark-list Application Form with photographs Proof of Identity Address Proof Income Proof ITR Existing Loan Tracks	• The student should be an Indian National. • Should have secured admission to a higher education course in recognized institutions in India or Abroad through Entrance Test/ Merit Based Selection process after completion of HSC(10 plus 2 or equivalent). • Where there is no entrance test/merit based selection process and admission is purely based on the marks scored in qualifying examinations, the student should have scored minimum 50% marks in qualifying examination. (10% relaxation for SC/ST categories)
Home Loan	Pan Card Application Form with photographs Proof of Identity Address Proof ITR Latest Bank Statement Existing Loan Tracks	• Individuals , Groups of individuals , who have attained 18 years ( completed) as on date of application and including Cooperative Societies , having a legal, identified and regular source of income either singly or jointly with Parents, sons, spouse. • NRI are also eligible for Housing loan,

FAQs for Self Employed

What is the quantum of professional loan?

• Minimum - Rs.100,000/-
• Maximum: Rs.5,00,00,000/-
• Rural / Semi-Urban areas -Rs 50.00 lakh
• Urban / Metro Areas - Rs.500.00 lakh

What is the repayment period for professional loan?

Ans. • For purchase of equipment etc., maximum period up to 84 months including moratorium period of 6 months.
• In case of Loan for construction of Nursing Home / Clinic-cum-residence, period of loan is 10 years maximum including moratorium of 12 months.

What is the security required for professional loan?

Ans. • Primary - Hypothecation of assets acquired out of bank finance/ EM of property in case of construction of building.
• Collateral - No guarantee /collateral for loans up to Rs.100.00 lac, Which are to be covered under CGTMSE Guarantee only.
• For loans above Rs.100.00 lac, collateral up to at - Least 50% of the loan amount to be taken.

What is the quantum of mortgage loan?

Ans. • In case of Firms/ Companies, five times average annual cash accrual (PAT+Depreciation) as audited Financial Statements of last three years.
• Maximum Rs.50.00 lac for property located in rural area and maximum Rs. 500.00 lac for property located in other areas.

2 What is the Maximum tenure?
• Loan is to be repaid in Maximum 120 equated monthly installments (EMIs), commencing from next month of disbursement. Repayment of EMIs through ECS mandate/ Postdated cheques.
3 What is the security required?
• EM of non-encumbered residential house /flat, commercial or industrial property situated in metro/urban/ semi urban/rural centers only in the name and possession of the borrower either self-occupied or vacant or partially rented out/leased out. The value of property should be equal to 200% of the loan amount.