When I needed funds for urgent expenses, I planned to take a personal loan. My cousin suggested I can take a loan from the Central Bank of India, as I have an account with them. I went to the bank and asked my bank manager, the Central Bank of India Personal Loan interest rate. He said it starts at 12% per annum depending on the loan amount and tenure. He explained everything in detail, and I felt confident about making the right choice.
What is the Personal Loan Interest Rate Central Bank of India?
Here’s what I learned during the discussion with my bank manager.
Feature |
Details |
Interest Rates |
RBLR + CRP (2.65%/3.40%) i.e. 12.00% per annum/ 12.75% per annum |
Minimum Gross Salary Required |
Rs.1.80 Lakh p.a. |
Loan Amount |
Up to Rs.10 lakhs for personal loans, Rs.40 lakhs for gold-backed loans |
Repayment Tenure |
1 to 5 years |
What I liked is the personal loan interest rate in CBI offers is competitive. The bank manager explained how Cent Personal Loan Scheme caters to different needs, like emergencies or even gold-backed loans. I hope you found this answer helpful.
Get Fast Approval, and Easy Application of Personal Loan with NB InstaCash.
Also Read:
What is the Eligibility of Central Bank Personal Loan?
Your Feedback Matters! How was this Answer?
Shifting, House?
✔
Lowest Price Quote✔
Safe Relocation✔
Professional Labour✔
Timely Pickup & Delivery
Intercity Shifting-Upto 25% Off
Check Prices
Intracity Shifting-Upto 25% Off
Check Prices
City Tempo-Upto 50% Off
Book Now
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.
Get Personal Loans At 12.99% Only Through NoBroker Read MoreWhat is SBI Personal Loan Interest Rate?
What Is Central Bank Of India Personal Loan Interest Rate?
Rishi
127 Views
2
1 Year
2024-02-22T09:09:12+00:00 2024-02-22T09:09:28+00:00Comment
Share