Central Bank of India Rate of Interest on Home Loans

Sir I want to take Home Loans from the Central Bank of India so can you please tll me the Central Bank of India Rate of Interest on Home Loans

[Saksham]

Here I am giving you the complete details of the Central Bank of India Rate of Interest on Home Loans

Rate Of Interest: Base rate @ present 09.95% (Floating)

Moratorium period: Maximum up to 36 months

Processing Charges: 0.50% of the Loan Amount subject to maximum Rs.20,000/-

Eligibility

The average annual income of the applicant of last two years as per I.T. Return should be minimum Rs. 4 lakh.

Quantum of loan

Minimum Home Loan amount should be Rs. 20 lakh.

Margin

10% for loans up to Rs. 20 lakh for home loans and vehicle loans upto Rs.20 lakh. (combined loan amount max Rs.40 lakh)

20% for home loans above Rs. 20 lakh & vehicle loans above Rs.20 lakh

Rate of Interest

Home Loan:


0.25% concession on all slabs subject to minimum Base Rate.
Vehicle Loan


0.50% concession on all slabs subject to minimum Base Rate.

Processing Charges

0.25% of the entire loan amount, maximum Rs. 20,000 + tax