2023 2024 EduVark > Education Discussion > Banks Related


  #2  
January 20th, 2018, 11:31 AM
Super Moderator
 
Join Date: Mar 2012
Re: Central Bank Of India Vehicle Loan Interest Rates

The Central Bank Of India offer Cent Vehicle for Purchase of two wheeler.(New only) / four Wheeler ( New/ old car) for Personal use. (i.e. not for hiring/ferrying passengers)

Cent Vehicle Rate Of Interest:

Type Floating Fixed Rate ( Repayment within 36 months)
2 Wheelers MCLR + 0.40% MCLR + 0.40%
4 Wheelers New MCLR + 0.40% MCLR + 0.40%
4 Wheelers Old MCLR + 1.50% MCLR + 1.50%

Cent Vehicle Eligibility

All individuals of age 18 years and above and maximum upto the age of 65
Permanent salaried employees/ Self-Employed Persons / Independent Entrepreneurs who have regular source of income

Farmers irrespective of land holding engaged in production oriented agricultural activities and in other allied activities.

Non-resident Indians

Companies / Proprietorships, Partnership Firm /Societies/etc.
and Minimum Income Criteria (Gross Annual Income)

4 Wheeler (New/ Old) 2 Wheeler
Salaried/ Non-Salaried Rs. 2, 40, 000 Rs. 1, 20, 000

Quantum of Finance

Two Wheeler - Rs. 10.00 lakh.
New Four Wheeler- Rs.75.00 lakhs
Old/Second Four Wheeler Vehicle - Rs.10.00 lakh
Loan shall be sanctioned on Road Price (Cost Of vehicle + Registration Charges+ Insurance + Road Tax). Any additional cost for fancy numbers shall not be financed by Bank.

Margin

Loan Amount Upto Rs.20 lakh - Minimum 10%
Loan Amount More than Rs.20 lakh - Minimum 20%
Old Vehicle (Any Loan amount)- Minimum 25%

Contact-


Corporate Office :

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

Call Center Toll Free No ( 24 hours ) .-1800 22 1911


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