Product Details
Bank Name
Central Bank of India
Maximum Loan Tenure
For purchase/construction of new home, maximum tenure is 30 years. For extension/repair, renovation of existing home loan, maximum tenure is 10 years.
Maximum Loan Amount
Not capped.
Interest Rate
8.5% to 9.5%.
Type
Floating interest rate.
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Down Payment
For loan upto INR 30 lakhs, down payment should be 10%. For loans between INR 30 Lakhs and INR 75 Lakhs down payment has to be 20%. For loans above INR 75 Lakhs down payment has to be 25%.
Fees and Charges
Processing fee: Waived upto 31st December, 2024.
Prepayment charges for floating rate: Nil.
Penal Interest On Late Payment: Not specified on website.
Legal Fee: At actuals.
Stamp Duty And Registration Charges: At actuals.
Minimum CIBIL Score
700.
Down Payment and Fees
Cent Home Loan
Special Features
Nil processing fee. Low interest rate.
Eligibility Criteria
Borrower should have a stable source of income.
Borrower should be above 18 years of age.
Special Concession
Not under this home loan scheme.
Home Saver Option
Not available.
Features, Eligibility and Concession
Pros
Nil processing fee.
Low interest rates.
Cons
High cibil score threshold.
Down payment required for home loan is high.
Pros & Cons
Application Procedure
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