Hi, I have a central bank account and for some reason, I had to take out a personal loan last month. To know about the details of the loan, I called my relationship manager. She informed me that, The current Central Bank of India personal loan interest rate is 12.75%.
What Is The Personal Loan Interest Rate Central Bank Of India?
After she informed me about the personal loan interest rate, she provided me with a few more details, which are
| Personal Loan Interest Rate CBI | ||
| Particulars | Cent Personal Loan Scheme | Cent Personal Gold Loan |
Loan Amount |
Up to Rs 20 Lakh. |
Up to Rs. 40 Lakhs |
Tenure |
Up to 7 years |
12 months from the date of sanction |
Interest Rate |
12.75%, |
8.45% for up to 3 Lakhs. 8.55% for up more than 3 Lakhs. |
Processing Fee |
1.00% of the loan amount. |
0.50% of the loan amount. |
Minimum Gross Salary |
Rs.1.80 Lakh p.a |
- |
She also told me that, there are certain factors that affect the interest rate of personal loans, which are
- Credit Score
: According to her, most of the lenders in the market identify the creditworthiness of an individual through their credit score. She told me that if my credit score is above 750, then I could get competitive interest rates.
- Employer Reputation:
She also said that, banks provide special interest rates for employees of reputed organizations in the country.
- Level Of Income
: Level of income is a key indicator when it comes to repayment of loans. People with high incomes can easily get personal loans at competitive interest rates.
- Negotiation Skills
: She informed me that negotiation skills can also help me in getting a small discount on my personal loan.
I hope this information about Central Bank of India personal loan interest rate has been of help to you.
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Authors Of The Question
What Is Central Bank Of India Personal Loan Interest Rate?
Rishi
54Views
9 months
2024-02-22T09:09:12+00:00 2024-02-22T09:09:28+00:00Comment
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