2023 2024 Student Forum > Management Forum > Main Forum

 
  #2  
18th March 2016, 06:13 PM
Super Moderator
 
Join Date: May 2012
Re: Central Bank of India Overdraft Interest Rate

Hey , rate of interest on Cent Mortgage loan offered by Central Bank of India is Base Rate + 3.50 % irrespective of TL/OD/Tenor.

Cent Mortgage Loan:

Nature of Facility


Term Loan and Overdraft facility available.

Overdraft facility will be for one year and to be reviewed annually

Quantum of finance

Individual/ Jointly (Priority/ Non Priority)
For salaried persons, 36 times of gross monthly income of applicant and for other than salaried persons.
3 times of gross annual income as per latest IT returns.

Maximum Rs.50.00 lakh for property located in rural area .
Maximum Rs.200.00 lakh for property located in other areas.

For Companies, Proprietorship/ Partnership Firms, Societies
In case of Firms/ Companies, five times average annual cash accrual (PAT+Depreceiation) as audited Financial Statements of last three years.

Maximum Rs.50.00 lakh for property located in rural area .

Maximum Rs. 500.00 lakh for property located in other areas.

Processing Charges


In case of term loans and overdraft:
0.50 % of Loan Amount subject to maximum of Rs.40,000/- and Rs.20,000/- respectively at the time of sanction.

In case of OD, renewal charges to be levied @ 0.50%,
Maximum Rs.5000/- per annum.

Documents Required :


For Salaried/ Individuals
KYC documents like:
Identity proof and address proof,

Original Salary Slips for two months and Post Dated Cheques

Letter of Hypothecation of vehicle and Articles of Agreement

Letter of undertaking from the borrower for Comprehensive Insurance of the vehicle with bank clause and Blank Transfer forms duly signed by the borrower

For Companies, Proprietorship/ Partnership Firms, Societies
Audited Balance Sheet,
Profit and Loss Account for latest two years and the latest IT return


Quick Reply
Your Username: Click here to log in

Message:
Options

Thread Tools Search this Thread



All times are GMT +5. The time now is 08:57 PM.


Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2024, vBulletin Solutions Inc.
SEO by vBSEO 3.6.0 PL2

1 2 3 4