Central Bank Of India Home Loan Eligibility

What is the eligibility criteria to apply for home loan offer by Central Bank of India to there customer’s?

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I will tell you eligibility criteria to apply for home loan offer by Central Bank of India to there customer’s so that you can also apply for it.

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,

Margin :
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%

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

Repayment:
Maximum period of 30 years or on borrower reaching the age of 70 years whichever is earlier.

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/-

Address:-
Central Bank Of India
Chander Mukhi, Nariman Point
Mumbai – 400 021

Phone:-
022 – 6638 7777