Central Bank of India Home Loan Interest Rate

In our previous post, we discussed the SBI Home loan interest rates, and PNB home loan interest rates, Bank of Baroda home loan interest rate, etc. Not only SBI but also the Central Bank of India and many other banks provide Home loans to fulfill your dream of making your own home. Central Bank of India home loan interest rates start from 8.35% p.a. to 9.85% p.a. with a maximum loan tenure of 30 years. The CBI provides a home loan for renovation, repair of an existing house, purchase of a plot as well as a home, etc.

Central Bank of India Home Loan Interest Rate 2023

Central Bank Home Loan Schemes	Interest Rate
Cent Grih Lakshmi	8.35% p.a. to 9.25% p.a.
Cent Home Loan	8.50% p.a. to 9.50% p.a.
Cent Home Double Plus Scheme	9.35% p.a. to 9.80% p.a.
Cent Home Loan scheme for purchasing 3rd or 4th House/Flat	9.35% p.a. to 9.85% p.a.

CBI Home Loan Schemes

Cent Grih Lakshmi

• ROI will be based on CIC (Credit Information Companies) score ranging from 8.35% p.a to 9.25% p.a.
• Women should be the sole borrower or first named borrower.
• CBI home loan has a processing fee of 0.05% for the whole loan amount borrowed. The loan repayment tenure is 30 years.

Cent Home Loan

• ROI is based on the CIC score & ranges from 8.50% to 9.50%.
• This scheme is used to purchase a plot of land, for the construction of a house, and purchase and construct a new house, or flat.
• Repair or renovate an existing house, or flat with a Maximum loan up to Rs.10 Lakh.
• Resident Indian citizens and non-resident Indians (NRIs) who have completed 18 years as of the date of application & Housing Cooperative Societies.
• Maximum Loan Tenure for construction and new or existing houses/flats is of maximum 30 years or on borrower reaching the age of 75 years, whichever is earlier subject to repayment capacity, may be allowed.
• In case of an extension of an existing house or flat, renovation, or alteration of an existing house, the repayment should be made within a maximum period of 10 years.

Cent Home Double Plus Scheme

• This scheme is used for construction, acquiring of new or existing homes, flats, Extensions of existing houses, etc.
• The rate of Interest will be based on a risk rating Score which ranges from 9.35% to 9.80%.
• All the candidates must be 18 years old as of the date of application.
• Overdraft Facility is also available.
• Term Loan For Other Purposes for example, Renovation of house, furnishing of house, Purchase of new vehicle, Purchase of furniture, Solar Energy equipment, Children marriage, education expenses, medical expenses, Family holiday, tour, etc.

Cent Home Loan Scheme for purchasing 3rd or 4th house/flat

• This scheme is used for the purpose of construction, buying of a new house, or flats or for acquiring an existing house, a flat which is not older than 40 years and has a remaining life of 10 years more than the loan tenure.
• The repayment period can range from 25 to 30 years.
• ROI ranging from 9.35% to 9.85%.
• Processing charges: 0.50% of the Loan Amount subject to a maximum of Rs.20,000/-+ GST.

Top-up Facility For Home Loan Beneficiaries

• For the purpose of construction, acquiring of a new home, or flat, or acquiring an existing home, or flat that has the remaining life of applied loan tenure plus 10 years.
• For repairs, renovation, alteration of existing home, flat.
• Individuals, Groups of individuals who have completed 18 years as of the date of application.
• NRI is also eligible for Housing loans.
• Rate of Interest varies between 10.40% to 11.10%.

Eligibility Criteria for Central Bank of India Home Loan

For more information visit the official site of Central Bank of India Click Here.