I am NRI and want to take home loan from Central Bank of India searching for details. Can you tell what the CBI NRI Home loan eligibility also tell about rate of interest?

Central Bank of India offers different home loan schemes at attractive rates of interest. The loan amount can be used for purchase of flats, construction of a new house, buying your third or fourth residential property, etc.

CBI NRI Home loan eligibility :

Individuals , Groups of individuals , who have attained 18 years ( completed) as on date of application and including Cooperative Societies , having a legal, identified and regular source of income either singly or jointly with Parents, sons, spouse.

NRI are also eligible for Housing loan,

Quantum of Loan :

Depending on repayment capacity of borrower & value of property.

Margin :

( FOR SALARIED BORROWER )

Loan Amount Home loan as percentage of Cost of Home/flat
Upto Rs.30.00 Lakhs 90%
Above Rs. 30.00 lakhs – up to Rs. 75. 00 lakhs 80%
Above Rs. 75.00 Lakhs 75%
For repairs / renovation / alteration of existing house/ purchase of plot. 75%

( FOR NON-SALARIED BORROWER )

Loan Amount Home loan as percentage of Cost of Home/flat
Upto Rs.75.00 Lakhs 80%
Above Rs. 75.00 Lakh 75%
For repairs / renovation / alteration of existing house/ purchase of plot. 75%

Rate Of Interest :

REPO LINKED INTEREST RATE

For Low Risk Weight = RLIR+0.30%
For Medium Risk Weight =RLIR+0.40%

Moratorium period:
Maximum upto 36 months

Processing Charges:
0.50% of the Loan Amount subject to maximum Rs.20,000/-

Contact:

Corporate Office :

Central Bank of India
Chander Mukhi, Nariman Point
Mumbai – 400 021
Tel.: 022 – 6638 7777