Central Bank Of India Home Loan Interest Rate Probably The Lowest!

If you are looking for a financer that will provide you housing loans to buy a house or property, then you should have a look at Central Bank Of India home loan schemes. It provides you home loan to buy a new house, property, flat or for renovation and extension of your house. At an attractive Central Bank Of India home loan interest rate, you can avail your desired loan amount depending on your eligibility and repayment capacity. Read this article to know more about the Central Bank Of India home loans.

Buy a house or property with Central Bank Of India home loans

Purchase a new house, property or whether renovate your home by taking a Central Bank Of India home loan. With a home loan duration up to 30 years, it offers you flexible loan tenures on your housing loans for easy repayment of your home loan EMI. The borrowed loan amount depends on your payment capacity & property value. Central Bank Of India home loan interest rate is based on the bank MCLR, that’s why it offers you home loans at a flexible rate of interest.

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You have to pay a minimum processing fee of 0.50% of your home loan amount, which is subjected to maximum INR 20,000. The processing fee is non-refundable and you have to submit it before your loan sanction. Loan for your home renovation or repair comes with a maximum loan duration up to 10 years. Some of the benefits of the Central bank Of India home loans is as follows.

  • Central Bank Of India provides you a home loan with 36 months of moratorium period, in which you don’t have to pay your loan EMIs.
  • You can apply for a home loan whether singly or jointly with parents, son or spouse.
  • Central Bank Of India offers you home loan depending on its repo rate which is 5.40%.
  • Your Central Bank Of India home loan provides you maximum loan duration up to 30 years. You can easily pay your loan EMIs up to 30 years or upon reaching the age of 75 years.

How the Interest rate Can affect your home loan EMIs?

The Central Bank Of India home loan interest rate is starting from 8.60% onwards. With a flexible rate of interest your loan EMI might get reduce because flexible interest rate depends on the bank base lending rate, and the interest rate changes every 6 to 12 months. Central Bank Of India also provides you the benefits like lowest EMI on your home loans such as INR 776 per lakh. You can calculate your monthly loan installments using Central Bank Of India home loan EMI calculator. The bank also does not charge any prepayment fee so that you can reduce your loan outstanding amount.

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All in all Central Bank Of India is a suitable partner for your housing loan that offers you compatible loan tenures with flexible rate of interest on your home loans. Now, buy a house or property with your housing finance partner Central Bank Of India.

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