Central Bank Of India Business Loan – Interest Rate & EMI Calculator- 2017

Business Loan

The Central Bank Of India lends SME and MSME loans to help the business units grow and expand. The funds are allocated to the entities with diverse profile under different schemes proposed by the bank. The quantum of loan, tenure, interest rate and processing fee vary from scheme to scheme. For details read below –

CBI Business Loan Details

ParticularsDetails
Interest Rate9.85% p.a. - 14.43% p.a.
Loan AmountUp to Rs. 5,00,000
TenureUp to 10 years
Processing FeeUp to Rs. 5 lacs – Nil

How To Apply

The candidate can apply for a loan by visiting the nearest bank branch.

CBI Business Loan EMI Calculator

Now know your EMI in few easy steps. Just place the loan amount, tenure and the rate of interest in the calculator and the calculator will compute the  EMI value for you in a fraction of second. It will also reveal the total amount of interest charged on the loan during the tenure.

For Instance – If I avail a loan of Rs. 1,00,00,000 to finance the emerging business needs for the tenure of 10 years at the rate of interest ranging between 9.85% p.a. – 14.43% p.a. then my EMI will vary from Rs. 1,31,322 – 1,57,862 and the total interest amount will be between Rs. 1,57,58,581 – 1,89,43,471. 

Table Showing EMI, Total Interest Amount, Total Repayment Amount

Loan Amount
(in Rs.)
Interest Rate
(p.a.)
Tenure
(in years)
EMI
(in Rs.)
Total Interest Amount
(in Rs.)
Total Repayment Amount (Principal + Interest)
(in Rs.)
1,00,00,0009.85% - 14.43%18,78,461 - 8,99,8965,41,537 - 7,98,7481,05,41,537 - 1,07,98,748
1,00,00,0009.85% - 14.43%24,60,757 - 4,82,16310,58,174 - 15,71,9051,10,58,174 - 1,15,71,905
1,00,00,0009.85% - 14.43%33,21,968 - 3,43,86815,90,851 - 23,79,2651,15,90,851 - 1,23,79,265
1,00,00,0009.85% - 14.43%42,52,906 - 2,75,42721,39,492 - 32,20,4801,21,39,492 - 1,32,20,480
1,00,00,0009.85% - 14.43%52,11,733 - 2,34,91827,03,988 - 40,95,0681,27,03,988 - 1,40,95,068
1,00,00,0009.85% - 14.43%61,84,503 - 2,08,36732,84,205 - 50,02,4211,32,84,205 - 1,50,02,421
1,00,00,0009.85% - 14.43%71,65,238 - 1,89,78438,79,977 - 59,41,8171,38,79,977 - 1,59,41,817
1,00,00,0009.85% - 14.43%81,50,949 - 1,76,17144,91,113 - 69,12,4221,44,91,113 - 1,69,12,422
1,00,00,0009.85% - 14.43%91,39,976 - 1,65,86451,17,395 - 79,13,3111,51,17,395 - 1,79,13,311
1,00,00,0009.85% - 14.43%101,31,322 - 1,57,86257,58,581 - 89,43,4711,57,58,581 - 1,89,43,471
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Amortization Table

YearPrincipal
(in Rs.)
Interest
(in Rs.)
Balance Amount (in Rs.)
16,18,282 – 4,82,4249,57,582 – 14,11,92093,81,718 – 95,17,576
26,82,008 – 5,56,8328,93,856 – 13,37,51286,99,710 – 89,60,744
37,52,303 – 6,42,7148,23,561 – 12,51,63079,47,407 – 83,18,030
48,29,843 – 7,41,8457,46,021 – 11,52,49971,17,564 – 75,76,185
59,15,377 – 8,56,2666,60,487 – 10,38,07862,02,187 – 67,19,919
610,09,725 – 9,88,3345,66,139 – 9,06,01051,92,462 – 57,31,585
711,13,800 – 11,40,7714,62,064 – 7,53,57340,78,662 – 45,90,814
812,28,600 – 13,16,7193,47,264 – 5,77,62528,50,062 – 32,74,095
913,55,233 – 15,19,8062,20,631 – 3,74,53814,94,829 – 17,54,289
1014,95,897 – 17,56,16680,947 – 1,40,127

Table Showing Loan Schemes, Eligibility, Amount of Loan and Tenure

Loan SchemeEligibility Quantum of LoanTenureProcessing Fee
CENT- Business Gold LoanExisting as well as New Customers
Individual aged between 18 years to 60 years
Proprietorship and Partnership firm engaged in Business activities
Minimum: Rs. 10,000
Maximum: Rs. 20,00,000
12- 36 MonthsUp to 5 lacs - Nil
Above 5 lacs to 20 lacs – Rs. 250 per lac
CENT - ContractorCivil Contractors/ Construction Contractors
Sub Contractors executing works on behalf of main contractors who have been allotted works by Main Contractors
On basis of projected cash flow for the entire repayment period.Term Loan - 5 years
CC/ OD – 1 year
1% of the loan amount and maximum up to Rs. 2,00,000
CENT - DoctorIndividuals/ Partnership/ Companies/ Trusts
Applicants/ Promoters should have recognized qualification in any branch of medical science like MBBS/ BAMS/ BDS/ BHMS or any recognized degree in Physiotherapy/ Radiology etc. and should have minimum practical experience required to establish Hospital/Nursing Home/ Clinic
In case of Individual, he/she should be a qualified and registered medical practitioner and should have minimum practical experience required to establish Hospital/Nursing Home/Clinic
Partnership: Out of total partners at least 50% should be qualified and registered medical practitioners
Company: At least 50% of the promoter/directors should be qualified and registered medical practitioners
Trusts: Trusts should be registered and should have the power to borrow. At least one of the trustees should be qualified medical professional and Registered Medical Practitioner
Minimum – Rs.1,00,000
Maximum- Rs.5,00,00,000
Not SpecifiedNot Specified
CENT - TradeAll types of Traders including Retailers / Distributors / Commission Agents / Arthiyas/Dealers of major companies etcMaximum - Rs. 5,00,000Not SpecifiedUp to Rs. 20,000
CENT - ProfessionalsProfessionals: Registered Medical Practitioners, Chartered Accountants, Company Secretaries, Consultant Engineers and Architects, Management Consultants, Tax Consultants, Free-lance accredited Journalists/ Cameraman/ Caterers who are holding either a degree or diploma from established institutions and established in their profession
Individuals/ Jointly/ Partnership firm (excluding partnership firm where HUF is a partner) / Joint Stock Company (excluding persons engaged in Real Estate/ Speculative Activities / Capital Market Activities) excluding businessmen
Minimum experience of 3 years in the specific field
Minimum age 25 and maximum up to 65 years
The applicant should be an Income tax assesse
For Individual : Minimum Limit is Rs.1Lac & Maximum Limit is Rs.1 crore
For Firm / Corporate / Companies : Minimum Limit is Rs.1Lac & Maximum Limit is Rs.5 crores
Term Loan- 10 years
Working Capital- 1 year
Up to Rs. 5 lacs- Nil
Above Rs. 5 lacs – 0.75% of the loan amount with subject to a minimum of Rs. 5,000
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Documents Required:

  • Application form
  • Proof of Identity: Voter’s ID Card/ Passport/ Driving License/ PAN Card/ Signature identification from present bankers of proprietor, partner of director (if a company)
  • Proof of residence: Recent telephone bills, electricity bill, property tax receipt /Passport/ Voter’s ID Card of Proprietor, partner of Director (if a company)
  • Proof of business Address
  • Last three years balance sheets of the units along with income tax/ sales tax returns etc. (Applicable for all cases from Rs.2 lakhs and above) However, for cases below fund based limits of Rs. 25 lakhs if audited balance sheets are not available, then unaudited balance sheets are also acceptable as per extant instructions of the bank
  • Copy of Sales tax / VAT /any other Tax Registration
  • Memorandum and articles of association of the Company/ Partnership Deed of partners etc.
  • Assets and liabilities statement of promoters and guarantors along with latest income tax returns
  • Rent Agreement (if business premises on rent) and clearance from pollution control board if applicable
  • SSI / MSME registration if applicable
  • Projected balance sheets for the next two years in case of working capital limits and for the period of the loan in case of term loan (for all cases of Rs.2 lakhs and above)
  • In case of takeover of advances, sanction letters of facilities being availed from existing bankers/ Financial Institutions along with detailed terms and conditions
  • Photocopies of lease deeds/ title deeds of all the properties being offered as primary and collateral securities
  • Position of accounts from the existing bankers and confirmation about the asset being standard with them (Required only in case of takeover)
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Features

  • Multiple schemes to choose from
  • No processing fee up to Rs. 5 lacs
  • Attractive rate of interest
  • Availability of Collateral free loan up to Rs. 1 crore