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Central Bank Of India Car Loan, Interest Rates, EMI and Eligibility Calculator 2019

(Updated On 07.05.2019) Central Bank Of India Car Loan and EMI Calculator May 2019 – Loansninsurances.com provides a simple tool to calculate Car Loan EMI on the basis of ✓ Interest Rate ✓ Loan Tenure ✓ Processing Fee.

Central Bank Of India Car Loan – Quick, Easy & Instant Approval Online

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Central Bank of India Car Loan

Central Bank of India car loan is commonly known as “Cent Vehicle”. Central Bank of India car loan schemes is highly lucrative and affordable for all car loan seekers. CBI car loan can be availed for both purchasing new car and for purchasing pre-used car. Central Bank of India Cent Vehicle loan can be used to purchase two wheeler (new only) and four wheeler (New/old car). Car loan should be used only for buying personal car and not for hiring/ferrying passengers.

Central Bank of India is also known for its widely renowned & tempting Central Bank of India Personal Loan and Central Bank of India Home Loan. Don’t think much!! Be a part of Central Bank Of India.

Central Bank of India Car Loan Features

  • Central Bank of India Car Loan can be availed by all individuals.

  • Central bank provides vehicle loan for four wheeler and two wheeler.

  • High quantum of car loan amount to every customer.

  • Minimum documentation for all types of car loan.

  • Central Bank of India car loan can be availed for buying pre-used car loan.

  • Both floating rate of interest and fixed rate of interest are available for each car loan.

  • CBI car loan can be repaid within 36 months under fixed rate of interest.

  • Central Bank of India car loan can be repaid up to 84 months.

Central Bank of India Car Loan Interest Rates

Types

Floating

Fixed Rate

2 wheelers

8.50% + 0.40%

8.50% + 0.40%

4 wheelers (new car)

8.50% + 0.40%

8.50% + 0.40%

4 wheelers (Old car)

8.50% + 1.50%

8.50% + 1.50%

Central Bank of India Car Loan EMI Calculator

Central Bank Of India Car Loan EMI Calculator

Fill Loan Amount, Interest rate & Tenure in Fields & get Instant Calculation for Car loan EMI within seconds.
Loan Amount
Interest Rate (Reducing) % Per Annum
Loan Tenure (in Months)
 
Monthly EMI
Total Amount with Interest
Flat Interest Rate PA
Flat Interest Rate PM
Total Interest Amount
Yearly Interest Amount

Central Bank Of India Car Loan EMI Table

Home Loan Amount (Rs.)

Interest Rate(% p.a)

Loan Tenure (years)

Monthly Instalment (EMI)

Total Interest Amount

Total Amount (Principal + Interest)

3,00,000

8.90%

1

26,222

14,658

3,14,658

3,00,000

8.90%

2

13,692

28,600

3,28,600

3,00,000

8.90%

3

9,526

42,935

3,42,935

3,00,000

8.90%

4

7,451

57,661

3,57,661

3,00,000

8.90%

5

6,213

72,777

3,72,777

3,00,000

8.90%

6

5,393

88,280

3,88,280

3,00,000

8.90%

7

4,812

1,04,167

4,04,167

Central Bank of India Car Loan Eligibility

  • Applicant’s age should be 18 years at the time of application and should not be more than 65 years at the time of loan maturity.

  • Central Bank of India Car loan is available to permanent salaried employees, self-employed individuals and independent entrepreneurs with a regular source of income.

  • Farmers engaged in production oriented agricultural activities and in other allied activities are also eligible for CBI car loan.

  • Non-Residential Indians and Companies / Proprietorship, Partnership Firm /Societies/etc. are also eligible CBI car loan.

  • Salaried individuals and non-salaried individuals should have a minimum Gross Annual Income of ₹2,40,000 to be eligible for 4 wheelers car loan and a minimum Gross Annual Income of ₹1,20,000 to be eligible for 2 wheelers.

Central Bank of India Car Loan Documents Required

  • Age proof

  • ID proof

  • Application form

  • Photograph

  • Residence proof

  • Income proof

  • Bank statement

  • Signature verification proof

  • Pro-forma Invoice or Rate List

Central Bank of India Car Loan Amount

The list of loan amounts which can be availed by each customer is given below:

  • Two Wheeler – Rs. 10.00 lakh.

  • New Four Wheeler- Rs.75.00 lakhs

  • Old/Second Four Wheeler Vehicle – Rs.10.00 lakh

  • Loan will be approved on Road Price (Cost Of vehicle + Registration Charges+ Insurance + Road Tax).

Central Bank of India Car Loan Margin (Borrower’s Contribution)

  • Loan Amount Upto Rs.20 lakh – Minimum 10%.

  • Loan Amount More than Rs.20 lakh – Minimum 20%.

  • Old Vehicle (Any Loan amount)- Minimum 25%.

Central Bank of India Car Loan Repayment

Central Bank of India car loan can be repaid in the different categories:

Types of Vehicles

Repayment in Month

2-wheelers

60

4-wheelers

84

4-wheelers (old) up to 3 years old

60

4-wheelers (old) more than 3 years old

48

Central Bank of India MCLR Rates May 2019

Loan Tenure  MCLR 
Overnight 8.05%
1 month 8.20%
3 months 8.30%
6 months 8.45%
1 year 8.55%

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