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Central Bank of India Home Loan Highlights
| Particulars | Details |
| Interest Rate | 8.10%-9.60% p.a. |
| Loan Amount (LTV Ratio) | For Salaried: Up to 90% of loan cost
For Non-Salaried: Up to 80% of loan cost |
| Tenure | Up to 30 years |
| Processing Fee | Waived off till 31st March 2025 |
Note: Last Updated on 20th February 2025
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Central Bank of India Home Loan Interest Rates
Central Bank of India Home Loan interest rates start from 8.10% p.a. onwards. The lender offers differential home loan interest rates depending on the loan amount offered to the applicants.
| Product | Interest Rates (p.a.) |
| Cent Grih Lakshmi | 8.10%-9.00% |
| Cent Home Loan | 8.25%-9.25% |
| Cent Home Double Plus Scheme | 9.10%-9.55% |
| Cent Home Loan Scheme for purchasing 3rd or 4th house/flat | 9.10%-9.60% |
| Cent Top-up Scheme | 8.75%-9.45% |
Compare Interest Rates of Home Loans for Top Banks & HFCs
| Name of Lender | Up to Rs. 30 Lakh | Above Rs. 30 Lakh to Rs. 75 Lakh | Above Rs. 75 Lakh | |
| SBI | 8.25%-9.40% p.a. | 8.25%-9.40% p.a. | 8.25%-9.40% p.a. | Check Eligibility |
| HDFC Bank Limited | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | Check Eligibility |
| Bajaj Housing Finance | 8.25%-17.00% | 8.25%-17.00% | 8.25%-17.00% | Check Eligibility |
| ICICI Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | Check Eligibility |
| Axis Bank | 8.75%-13.30% p.a. | 8.75%-13.30% p.a. | 8.75%-9.65% p.a. | Check Eligibility |
| Federal Bank | 8.80% p.a. onwards | 8.80% p.a. onwards | 8.80% p.a. onwards | Check Eligibility |
| Punjab National Bank | 8.20% - 10.00% p.a. | 8.15% - 9.90% p.a. | 8.15% - 9.90% p.a. | Check Eligibility |
| Kotak Mahindra Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | Check Eligibility |
| Bank of Baroda | 8.15% - 10.40% p.a. | 8.15% - 10.40% p.a. | 8.40% - 10.65% p.a. | Check Eligibility |
| IDFC First Bank | 8.85% p.a. onwards | 8.85% p.a. onwards | 8.85% p.a. onwards | Check Eligibility |
| LIC Housing Finance | 8.50% - 11.25% p.a. | 8.50% - 10.55% p.a. | 8.50% - 10.75% p.a. | Check Eligibility |
| Tata Capital Housing Finance | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | Check Eligibility |
| PNB Housing Finance | 8.50% - 14.50% p.a. | 8.50% - 14.50% p.a. | 8.50%-11.45% p.a. | Check Eligibility |
| L&T Finance Limited | 8.65% p.a. onwards | 8.65% p.a. onwards | 8.65% p.a. onwards | Check Eligibility |
| Godrej Housing Finance | 8.55% p.a. onwards | 8.55% p.a. onwards | 8.55% p.a. onwards | Check Eligibility |
Compare Home Loan Schemes Offered by Top Lenders Compare Now
Central Bank of India Home Loan Fees and Charges
| Particulars | Details |
| Processing Charges | Waived off till 31st March 2025 |
| Documentation Charges | Rs 1,350 + GST For Top-up loan- Rs 450 + GST |
Types of Central Bank of India Home Loan
Cent Home Loan
This is a regular home loan scheme offered for the following purposes:
Purpose:
- For acquiring/constructing of new home or flat, or for acquiring an existing home or flat with the remaining life of applied loan tenure plus 10 years
- For renovation/repair/alteration of existing home/flat
- For Balance Transfer of home loans to the Central Bank of India from other lenders
- For furnishing/interiors as part of the project cost
Tenure:
- For construction or acquisition of a new or existing house/flat not older than 10 years – the repayment tenure of a maximum of 30 years or on borrower attaining the age of 75 years, whichever is earlier subject to repayment capacity, may be allowed
- For repair/renovation- Up to 10 years
Loan Amount (LTV Ratio):
| Loan Amount | LTV ratio |
| Loan amount up to Rs 30 lakh | Up to 90% of the cost of property |
| Loan amount between Rs 30 lakh-Rs 75 lakh | Up to 80% of the cost of the property |
| Loan amount above Rs 75 lakh | Up to 75% of the cost of the property |
| For carrying out repair/renovation/alteration/extension of existing house/flat | Up to 75% of the cost (subject to a maximum loan amount of Rs 25 lakh) |
| For Plot Purchase | Up to 75% of the cost of the plot |
| For construction on the plot purchase | As per the loan quantum as above |
For furnishing or interiors, up to 15% of their cost is added to the cost of a house or flat, with a maximum loan amount of Rs 50 lakh. However, the loan amount will be limited by the stated LTV ratio.
EMI/NMI ratio:
| Nat annual income | EMI/NMI Ratio |
| Up to Rs 1.20 lakh | 20% |
| Above Rs 1.20 lakh and up to Rs 3 lakh | 30% |
| Above Rs 3 lakh and up to Rs 5 lakh | 55% |
| Above Rs 5 lakh and up to Rs 8 lakh | 60% |
| Above Rs 8 lakh and up to Rs 10 lakh | 65% |
| Above Rs 10 lakh | 66.67% |
Cent Grih Lakshmi
Purpose: Cent Grih Lakshmi is a special home loan facility for women applicants wherein the sole or primary home loan applicant is a woman.
Tenure: Up to 30 years
Cent Home Double Plus Scheme
Purpose:
- Home Loan with overdraft facility for construction or acquiring of new or existing home/flat.
- Term Loan for Other Purposes such as repair/renovation/refurbishing or furnishing of new house/purchase of new vehicles/purchase of consumer durables/furniture/solar energy equipment/marriage/education/medical/holiday/tour.
Loan Amount (LTV Ratio) for Salaried Borrowers:
| Particulars | Details |
| Loan amount up to Rs 30 lakh | Up to 90% of the cost of the property |
| Loan amount between Rs 30 lakh-Rs 75 lakh | Up to 80% of the cost of the property |
| Loan amount above Rs 75 lakh | Up to 75% of the cost of the property |
| For carrying out repair/renovation/alteration/extension of existing house/flat | Up to 75% of the cost (subject to a maximum loan amount of Rs 10 lakh) |
| Purchasing plot for house construction | Up to 75% of the cost of the plot (the cost of the plot should not exceed 75% of the total project cost of the house property) |
Loan Amount (LTV Ratio) for Non-Salaried Borrowers:
| Particulars | Details |
| Loan amount up to Rs 75 lakh | Up to 80% of the cost of the property |
| Loan amount above Rs 75 lakh | Up to 75% of the cost of the property |
| For carrying out repair/renovation/alteration/extension of existing house/flat | Up to 75% of the cost (subject to a maximum loan amount of Rs 10 lakh) |
| Purchasing plot for house construction | Up to 75% of the cost of the plot (the cost of the plot should not exceed 75% of the total project cost of the house property) |
Tenure:
- For salaried applicants – Up to 30 years or on applicant attaining the age of 70 years whichever is earlier.
- For self-employed applicants – Up to 25 years or on applicant attaining the age of 70 years whichever is earlier.
Cent Home Loan Scheme for Purchasing 3rd or 4th House/Flat
Purpose: Home loan for Construction, purchase of new house/flat, or purchase of existing house/flat which is not older than 40 years and has a remaining life of 10 years more than loan tenure
Loan Amount (LTV Ratio) for Salaried Borrowers:
| Particulars | Details |
| For loan amounts up to Rs 30 lakh |
|
| Loan amount above Rs 30 lakh-Rs 75 lakh |
|
| Loan amount above Rs 75 lakh | Up to 75% (For construction/purchase of new or existing flat/extension of existing house/flat/plot purchase) |
Loan Amount (LTV Ratio) for Non-Salaried Borrowers:
| Particulars | Details |
| For loan amounts up to Rs 75 lakh |
|
| Loan amount above Rs 75 lakh | Up to 75% (For construction/purchase of new or existing flat or home/extension of existing flat/house) |
Tenure:
- For construction/purchase of a new house or existing flat not older than 10 years: Up to 30 years (salaried); Up to 25 years (non-salaried) or up to 70 years of age of the borrower, whichever is earlier.
- For purchase of flat/house older than 10 years: Up to 25 years or 70 years of age, whichever is earlier.
Cent Top-up Scheme
Purpose:
Home loan top-up facility for additional loan on the existing home loan for construction/purchase of new house or flat or for acquiring existing home/flat and for repair/renovation/alteration of existing home/flat.
Loan Quantum: Rs 2 lakh-Rs 1 crore
Tenure: The repayment tenure cannot exceed the remaining period of the original housing loan.
Eligibility Criteria for Central Bank of India Home Loan
Cent Home Loan
Central Bank of India home loan eligibility criteria are mentioned below:-
- Individuals, groups of individuals (18 years of age on the date of application) including persons engaged in agriculture & allied activities.
- NRI can also apply for a home loan.
- Net Annual Income:
| Net Annual Income | EMI/NMI Ratio |
| Up to Rs 1.20 lakh | 20% |
| Above Rs 1.20 lakh up to Rs 3 lakh | 30% |
| Above Rs 3 lakh up to Rs 5 lakh | 55% |
| Above Rs 5 lakh up to Rs 8 lakh | 60% |
| Above Rs 8 lakh up to Rs 10 lakh | 65% |
| Above Rs 10 lakh | 66.67% |
- Minimum CIC Score:
| Name of CIC | Minimum threshold limit |
| Transunion CIBIL | 700 |
| Experian | 700 |
| Equifax | 700 |
| CRIF | 700 |
Cent Grih Lakshmi
- A woman must be the sole borrower or the first-named applicant in the loan.
- The female applicant’s name must be included in the property ownership.
Cent Home Loan Scheme for purchasing 3rd or 4th house/flat
Individuals or a group of close relatives with a legal, identifiable, and regular source of income can apply for a home loan under this scheme, either singly or jointly with parents, spouse, sons, daughters, brothers, or sisters. Co-borrowers must be or intend to be co-owners of the house property.
Cent Home Double Plus Scheme
- Applicants can be salaried employees, self-employed individuals, professionals, or any person with a legal, identifiable, and regular source of income.
- The applicant must be at least 18 years old at the time of application.
Documents Required for Central Bank Home Loan
Central Bank of India has not mentioned the documents required for a home loan. However, just like other lenders, the Central Bank of India may also ask for the following documents from its home loan applicants:-
ID Proof: PAN card, Aadhaar card, Passport, Voter ID, Driving License
Address Proof: Aadhar card, Passport, Driving License, Voter ID, PAN Card, electricity bill, telephone bill
Income Proof:
- For Salaried – Salary slips for past 3 months, ITR and Form 16, Last 6 months bank account statement showing salary credit
- For Self-employed – ITR with income computation for the past 3 assessment years of both individual and business entity (duly attested by a CA), current account statement of business entity for past 6 months and savings account statement of the individuals of both individual and business entity (duly attested by a CA), balance sheet and profit and loss account statement for last 3 years, with schedules and annexures.
Check Lenders Offering Home Loan With Overdraft Facility Click Here
Central Bank of India Home Loan EMI Calculator
Central Bank of India Home Loan EMI Calculator can be used to calculate the EMI payable throughout the loan tenure and the total interest cost. The applicants can enter the interest rate, loan amount and loan tenure in the home loan EMI calculator given below to calculate the total interest cost and monthly instalments payable.
Monthly EMI ₹ 15,622
Total Amount Payble ₹ 5,62,395(Principal + interest)
Principal Amount ₹ 5,00,000
Total Interest Payble ₹ 62,395
FAQs on Central Bank of India Home Loan
What is the current Central Bank of India Home Loan interest rate?
Home loan interest rates at the Central Bank of India start from 8.10% p.a. depending on the credit profile of the applicant.
Does the Central Bank of India offer preferential rates to women borrowers?
Yes, the Central Bank of India offers an interest rate concession of 15-25 bps along with a waiver of the last few EMIs to women borrowers.
How to calculate Central Bank of India Housing Loan interest cost?
Central Bank of India Housing Loan interest cost can be calculated with the help of the Home Loan EMI Calculator. Applicants need to enter the loan amount, loan tenure and interest rate in the EMI calculator and get the interest cost instantly.
At what minimum credit score can the applicants avail home loans from the Central Bank of India?
Central Bank of India requires home loan applicants to have a minimum credit score of 700 across all credit bureaus.
Who can be the co-applicant for my home loan availed from the Central Bank of India?
Parents, sons, spouses, brothers, sisters and daughters can be the co-applicants for your home loan.
Does the Central Bank of India offer top-up home loans to its existing borrowers?
Yes, Central Bank of India offers top-up home loans to its existing home loan borrowers branded as ‘Top-up Facility to Cent Home Loan Beneficiaries’. The loan can be availed to meet their personal requirements, except for speculative purposes.
What is the maximum tenure provided by the Central Bank Home Loan for EMI payments?
The maximum tenure provided by the Central Bank of India to applicants availing home loans for construction or purchase of new/existing property is up to 30 years. Tenure for applicants availing home loans for extension/repair/renovation/alteration of existing property is up to 10 years.
How to apply for a home loan at the Central Bank of India?
Applicants can apply for a Central Bank of India Home Loan through the “Apply Online” option provided on the official website of the Central Bank of India. Alternatively, they can also visit bank branches to apply for a Central Bank of India Home Loan.
What is the moratorium period offered to the applicants of the Central Bank of India Home Loan?
Central Bank of India offers a moratorium period of more than 18 months up to 24 months for home loan applicants.
How do I contact Central Bank of India Home Loan customer care?
You can contact Central Bank of India Home Loan customer care by calling the toll free number- 1800221911/18002021911. Pensioners can call 18002031911(toll free number). For failed or disputed transactions you can contact the Nodal Officer Mr. Amit Nayak at 022-49197318.