When you need quick funds, you may turn to friends or family for help, but they may not always be able to assist due to their commitments. In such situations, a Central Bank of India Personal Loan can be a reliable solution. As a trusted public sector lender, the bank offers customized personal loan products designed to meet diverse financial needs. With competitive interest rates ranging from 11.75% to 12.50% p.a. and low processing fees, it provides an efficient way to manage your personal expenses.

So, why wait? Explore the top personal loans and personal loan interest rates offered by the Central Bank of India details as we dive deeper into its offerings.

Central Bank of India Personal Loan Interest Rates 2025

This table shows you the highlights of Central Bank Personal Loan interest rates with important information that you should know about this personal loan -

Particulars	Details
Interest Rates	11.75% p.a. - 12.50% p.a.
Loan Amount	Up to INR 20 Lakhs
Tenure	7 Years
Processing Fees	It has been waived off till 31st of March 2025

Types of Central Bank Of India Personal Loan

Below are the types of Central Bank of India Personal Loans - 

1. Cent Personal Loan Scheme 
2. Cent Pensioners

Cent Personal Loan Scheme

The regular personal loan scheme is designed to meet the personal or domestic requirements of borrowers. The loan amount is up to 24 times the gross salary, with a maximum limit of ₹20 lakhs. The Minimum Net Take Home Pay (NTHP) must be 50% of the gross salary after deducting statutory dues, EMI of the proposed loan, and other obligations. If an employer's undertaking is available, an NTHP of 40% is permitted. Loan tenure is up to 7 years. A processing fee of 1% of the loan amount applies, waived for Defence Personnel.

Cent Pensioners

The pension loan scheme is for pensioners' personal requirements, excluding speculative purposes, real estate investments, or prohibited activities. Pensioners up to 70 years can avail up to 18 times their monthly pension, with a maximum limit of ₹10 lakhs. Those above 70 years can avail up to 12 times their monthly pension, with a maximum limit of ₹5 lakhs. The loan tenure varies based on age, with a maximum of 5 years for pensioners up to 65 years, 3 years for those between 65 and 70 years, and 2 years for those above 70 years. No processing fee is applicable for this loan.

Eligibility Criteria For Central Bank Of India Personal Loan

Here are the eligibility criteria for the Cent Personal Loan Scheme and Cent Pensioners Loan. Review the table carefully to understand the details -

Features	Cent Personal Loan Scheme	Cent Pensioners Loan
Eligible Applicants	Permanent employees of Govt., Schools, Hospitals, Railways, Municipal Bodies, Indian Companies, MNCs	Pensioners and family pensioners with pensions credited to CBI
Minimum Service	1 year (Govt./Public Sector) / 3 years (Private/MNCs)	Not applicable
Salary/Pension Account	Mandatory with the Central Bank of India	Pension must be credited to the Central Bank of India
Minimum Gross Salary	₹1.80 lakh per annum	Not applicable
Credit Score Check	Yes	Yes

Required Documents for Central Bank of India Personal Loan

The following documents are required to avail of the Central Bank of India Personal Loan - 

1. Identity Proof (Any one of the following):

• Passport
• PAN Card
• Voter ID Card
• Driving License
• Aadhaar Card

2. Address Proof (Any one of the following):

• Ration Card
• Bank Account Statement
• Passport
• Driving License
• Electricity Bill / Telephone Bill
• Sale Deed or Property Purchase Agreement (for owned properties)
• Aadhaar Card

3. Income Proof:

• Bank Account Statement
• Salary Slips
• Income Tax Return (ITR)
• Form 16

Central Bank of India Personal Loan EMI Calculator

EMI is the total of interest and principal payable each month on the personal loan. The Central Bank of India calculates EMI based on specific factors for personal loans. Well, your EMI gets calculated in a very easy and simple manner. The Wishfin Central Bank of India Personal Loan EMI Calculator takes into account your loan amount, interest rate, and tenure of the loan to calculate your monthly installments.

Moreover, firstly the calculator will compute the interest component and then the principal amount that you will have to pay towards the personal loan.

For Example: If you are interested in availing a loan of INR 15,00,000 from the Central Bank of India for 6 years, and the bank is charging an interest rate of 11.75% p.a. - 12.50% p.a. What would be the total amount payable for each month from your pocket?

You just need to enter three details in the calculator - 

1. Loan Tenure 
2. Interest Rate 
3. Loan amount

TENURE	INTEREST RATE(11.75% p.a.)	INTEREST RATE (12.50 % p.a.)
1	₹1,33,097.82	₹1,33,624.29
2	₹70,435.21	₹70,960.96
3	₹49,642.55	₹50,180.44
4	₹39,316.88	₹39,870.00
5	₹33,177.48	₹33,746.91
6	₹29,130.65	₹29,716.77

Features & Benefits of Central Bank Of India Personal Loan

Here are the features and benefits of Central Bank Of India Personal Loan - 

• High Loan Limit: You can borrow up to INR 20,00,000 or 50% of take home from the bank. Government employees or individuals working in multinational or corporate offices can get the loan. However, a 40% net take-home pay is permitted if an employer’s undertaking is available.
• Attractive Interest: The interest on the borrowed amount is determined based on RBLR + CRP (2.65% / 3.40%), resulting in a current interest rate of 11.75% p.a. to 12.50% p.a
• Flexible EMI: The loan can be paid in a maximum of 84 installments. You can choose from 12 to 84 months to repay the loan.
• Quick Approval: You can get the loan easily by providing details and a few documents with a NIL processing fee.

Conclusion

Having the right documents in place ensures a smooth and hassle-free application process for a Central Bank of India Personal Loan. By providing valid identity proof, address proof, and income proof, applicants can improve their chances of quick approval. A well-prepared application not only speeds up processing but also enhances credibility in the lender's eyes. Whether you need funds for medical emergencies, education, travel, or any other personal expense, the Central Bank of India offers a reliable financial solution with competitive interest rates and flexible terms. 

So, gather your documents, apply with confidence, and take a step toward fulfilling your financial needs effortlessly.

FREQUENTLY ASKED QUESTIONS

1. What is the interest rate on the Central Bank of India Personal Loan?

The interest rate is based on RBLR + CRP (2.65% / 3.40%), currently ranging between 11.75% to 12.50% p.a.

2. Who is eligible for a Central Bank of India Personal Loan?

Individuals who are permanent employees of the State/Central Government, Schools, Hospitals, Railways, Municipal Bodies, Indian companies, or MNCs with the required minimum service and a salary account with the bank are eligible. Pensioners receiving their pension through the bank can also apply under the pension loan scheme.

3. What is the maximum Central Bank Of India personal loan amount I can avail of?

You can avail up to 24 times your gross salary, subject to a maximum limit of ₹20 lakhs. Pensioners can avail up to ₹10 lakhs (for those aged up to 70 years) and up to ₹5 lakhs (for those above 70 years).

4. What is the repayment tenure for a Central Bank Of India personal loan?

The maximum loan tenure is up to 7 years for regular borrowers and varies for pensioners based on their age, with a maximum of 5 years for those up to 65 years.

5. What documents are required for a Central Bank Of India personal loan?

Documents needed to submit for Central Bank Of India personal loans are -

• Identity Proof (Passport, PAN Card, Voter ID, Driving License, Aadhaar)
• Address Proof (Ration Card, Bank Statement, Passport, Driving License, Electricity/Telephone Bill, Sale Deed, Aadhaar)
• Income Proof (Bank Statement, Salary Slips, ITR, Form 16)

6. How long does it take for Central Bank Of India loan approval?

If all documents are in order, the loan is usually processed and disbursed within a few working days.