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Central Bank of India LAP Highlights |
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| Interest Rate | 9.75%-13% p.a. |
| Loan Amount | Up to Rs 5 crore |
| Tenure | Up to 10 years |
| Processing Fee | Up to 1% of loan amount (up to Rs 3 lakh) |
Table of Contents
Central Bank of India LAP Interest Rates
Central Bank of India offers Loan Against Property at interest rates starting from 9.70% p.a. onwards. The final loan against property interest rates offered by the lender would depend on the type of the LAP scheme and the tenure opted by its LAP applicants.
Cent Mortgage
| Minimum | 9.75% |
| Maximum | 13.00% |
Cent Rentals
| Tenure | Interest Rate (p.a.) |
| Up to 3 years | 12.15% |
| Above 3 years | 12.65% |
Compare Interest Rates on Loan Against Property for Top Banks & HFCs
| Name of the Lender | Interest Rate (% p.a.) | |
| State Bank of India | 10.00-11.30 | Apply Now |
| Bank of Baroda | 10.85-18.60 | Apply Now |
| PNB Housing Finance | 9.25-15.00 | Apply Now |
| IDFC First Bank | 9.00-16.50 | Apply Now |
| HDFC Bank Limited | 9.50-11.00 | Apply Now |
| L&T Housing Finance | 9.50 onwards | Apply Now |
| LIC Housing Finance | 9.50-11.55 | Apply Now |
| Godrej Housing Finance | 9.75 onwards | Apply Now |
| ICICI Bank | 10.85-12.50 | Apply Now |
| Tata Capital | 9.00 onwards | Apply Now |
| Axis Bank | 10.50-10.95 | Apply Now |
| Punjab National Bank | 10.40-12.75 | Apply Now |
Check Lenders Offering Loan Against Property at Low Interest Rates Click Here
Fees and Charges for Central Bank of India LAP
Cent Mortgage
| Processing Fee | Term Loan: 0.75% of loan amount (up to Rs 1 lakh)
Overdraft: 0.50% of loan amount (up to Rs 5,000) |
| Documentation Charges | Loan amount up to Rs 50 lakh- Rs 2,500
Loan amount above Rs 50 lakh- Rs 5,000 |
Cent Rental
| Processing Fee | 1% of loan amount (up to Rs 3 lakh) |
| Documentation Charges | Loan amount up to Rs 50 lakh- Rs 2,500
Loan amount above Rs 50 lakh- Rs 5,000 |
Check LAP Interest Rates For Various Lenders Click Here
Types of Central Bank of India LAP
Cent Mortgage
Purpose: To meet the personal needs of the applicants, except for speculation, real estate investments or any prohibited activity
Loan Amount:
| Property located in rural/semi-urban area | Rs 1 lakh-Rs 5 lakh |
| Property located at District Headquarters in semi-urban area | Rs 1 lakh-Rs 2 crore |
| Property located in metro and urban area and all semi urban branches in Goa | Rs 1 lakh-Rs 5 crore |
Processing Fee: Up to 0.75% of loan amount (up to Rs 1 lakh)
Security:
- EM/registered mortgage of non-encumbered and self-occupied residential property located in metro cities, urban areas and semi-urban centres (only in case of Goa) where title deeds can be mortgaged in the ownership and possession of principal borrower for purposes apart from agriculture
- Agricultural land/industrial properties/commercial properties/vacant plot are not accepted as collateral;
- Property should not be inherited or by partition deed or by gift deed
- Properties of spouse are accepted as security provided the spouse is the co-borrower
Cent Rental
Purpose: Loan facility against the security of future lease rentals for personal and business purposes, except for speculation
Loan Amount: Up to Rs 5 crore
LTV Ratio:
| Unexpired Lease Tenure | LTV |
| 3 years and less | Up to 75% of Future Lease Rental Receivables |
| 3 to 6 years | Up to 65% of Future Lease Rental Receivables |
| 6 to 8 years | Up to 55% of Future Lease Rental Receivables |
| More than 8 years | Up to 50% of Future Lease Rental Receivables |
Tenure: Up to 10 years or within the unexpired lease period, whichever is lower
Processing Fee: 1% of loan amount (up to Rs 3 lakh)
Check LAP Interest Rates For Various Lenders Click Here
Eligibility Criteria for Central Bank of India LAP
Cent Mortgage
- Age: 21-70 years (term loan); 21-60 years (overdraft)
- Minimum gross annual income: Rs 2 lakh
Minimum Credit Score Requirement-
CIBIL-
- For Salaried applicants: 725 or -1
- For Professional/Self-employed applicants: 750
CRIF-
- For Salaried applicants: 665 or -1
- For Professional/Self-employed applicants: 680
Experian-
- For Salaried applicants: 716 or -1
- For Professional/Self-employed applicants: 731
Cent Rental
Individuals having properties in metro/urban area/semi-urban areas who have leased their property under registered lease deed, sub-lease deed, rent deed to government/semi-government/PSUs/banks/reputed corporations/MNCs/Insurance companies, etc.
Additionally, Central Bank of India may also consider the credit score of the applicants of Cent Rental scheme, just as in the case of its Cent Mortgage scheme, to evaluate their LAP eligibility.