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8th September 2015, 09:38 AM
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Join Date: Apr 2013
Re: Central Bank of India Special Scheme Home Loan

Cent Home Loan Scheme is provided by the Central Bank of India, given below are the details of it

Purpose:
For construction/ acquiring of new home /flat or for acquiring existing home / flat which has remaining life of applied loan tenure plus 10 years.

for repairs/renovation/alteration of existing home/flat


Eligibility:
Individuals, who have attained 18 years 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 it

Margin :
Loan Amount
Home loan as percentage of Cost of Home/flat
Upto Rs.20.00 Lakhs
90%

Above Rs. 20.00 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%


Repayment:
Maximum period of 30 years or on borrower reaching the age of 70 years

10 years in case of Repair/Renovation

Rate of Interest:
Base rate @ present 09.95% (Floating)

Moratorium period:
Maximum up to 36 months

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


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