Central Bank of India Car Loan in Chandigarh

About Central Bank of India Car Loan in Chandigarh

Established in the year 1911, Central Bank of India is one of the largest and oldest banks in the country. It is a government – owned bank. The head office of the bank is located in Mumbai with operational bank branches spread across the country. The bank has a network of 4,741 branches, 5,000 ATMs and 4 extension counters across 27 Indian states and 3 union territories. It is a leading name in the banking and financial industry. The bank is positioned among the top national banks. It has earned this stature over the years by rendering the quality service to its customers. It provides the tailor-made solution for all banking requirements. Right from the loans and advances to investments, the bank has multiple products to serve its customers. The bank has drafted multiple schemes under each product so as to fulfill the customer’s requirement to the fullest.
In order to meet the financial requirement of the aspirant car buyers, the bank has enabled the car loan service. Under it, the bank provides the money to the customers who want to purchase a car. The bank disburses loan up to ₹ 75 lakhs on the purchase of a new car. It grants the maximum loan of up to ₹ 10 lakhs for the purchase of used cars. The amount can be repaid in installments during the tenure. The new car loan is sanctioned for the maximum tenure of 7 years and the repayment period for pre- owned cars last up to 5 years. This loan product can be availed by anyone considered eligible by the bank. The bank has set particular standards or the eligibility criteria on the basis of which the individual’s profile is evaluated.
The borrower can check the details, eligibility and apply for the car loan at Central Bank of India.

Central Bank of India Car Loan in Chandigarh at a Glance

ParticularsDetails
Interest RateNew Cars: 8.70% p.a.

Pre-owned Cars: 9.80% p.a.
Loan AmountNew Cars : Max. upto ₹75 Lakh

Pre-owned Cars: Max. upto ₹ 10 Lakh
Loan TenureNew Cars : Upto 7 Years

Pre-owned Cars : 5 years (for cars upto 3 years old) & 4 years (for cars more than 3 years old)
Processing FeeAs Per Bank Norms
Prepayment FeeAs Per Bank Norms

Eligibility Criteria

The Central Bank of India provides car loan after evaluating individual’s profile. It has set certain criteria to determine the suitability. The car loan eligibility criteria is:

  • The minimum age of the applicant should be 18 years and maximum 65 years
  • The minimum annual income of salaried and non-salaried applicant should be ₹ 2,40,000
  • The loan is provided to eligible segments mentioned below:
    -Permanent salaried employees/ Self-Employed Persons / Independent Entrepreneurs who have regular source of income.
    -Farmers irrespective of land holding engaged in production oriented agricultural activities and in other allied activities.
    -Non-resident Indians
    -Companies / Proprietorships, Partnership Firm /Societies/etc.

Documents Required

In order to avail the benefit of a car loan, the individual needs to submit the following documents:

Proof List of Documents
Age Proof Passport/ PAN Card/ Voter ID card, Photo Driving License with birth date/ Photo ration card with DOB/ Employer certificate/ID/School/ College Leaving Certificate
Identity ProofPAN Card/ Voter ID/Passport/Driving License, photograph
Income ProofForm 16 for last 2 years, Salary slip for last 3 months, proof of employment in the same organisation for two years, salary certificate, bank statement showing salary credit into the account (for salaried), IT returns for the last 2 years along with income computation, bank statement for the last 3-6 months (for self-employed)
Address ProofLatest Telephone Bill/ Electricity Bill/ Property Tax Receipt/ Passport/ Voter ID
Signature Verification ProofDriving License/ Passport copy/ PAN Card

Read Car Loan Chandigarh for more information.

Address of Central Bank of India Branches in Chandigarh

The branch address, IFSC Code, MICR Code and customer care details of Central Bank of India branches located in Chandigarh are mentioned in the table below:

Branch Name
Complete AddressIFSC CodeMICR CodeContact Number
Sector 17 - B Chandigarh

SCO 68 - 69 Bank Square Sector 17 - B ChandigarhCBIN02804121600160020172-2702431, 0172-2702266
Sector - 15 C, Chandigarh

S.C.O. 23, Sector 15 - C, ChandigarhCBIN02804131600160030172- 2780778, 0172 -2540935
Sector 22 C, Chandigarh7/8, Sector 22 - C, ChandigarhCBIN02804141600160040172-2700759, 0172-2702852
Chandigarh, Sector 35 C (Defence Colony)S.C.O. NO. 293 & 294, Defence Colony, Sector 35 - C, ChandigarhCBIN02811861600160050172-2646875, 0172-2601174
Sector 37 C Chandigarh

Shop - Cum - Office (SCO) No. 174, Sector 37 - Co, ChandigarhCBIN02821381600160061800 200 1911
S.D.College, Sector 32 D, Chandigarh
S.D. College, Sector 32 D, Chandigarh - 160047CBIN02831981600160090172-2645503
Sector - 18 Chandigarh

SCF 30 Sector - 18C Chandigarh, Dist - Chandigarh, Chandigarh - 160018CBIN02831941600160100172 - 2773416
Chandigarh Zonal Office

P.B.NO: 13, NO: 58 - 59, Bank Square, Sector 17B Dist - Chandigarh Chandigarh - 160017CBIN0281106NON-MICR0172-2702994-98
Industrial Area

SCO-21, Industrial Area, Phase-2, Chandigarh 160047CBIN0284976NON-MICR22637966
Sector Forty Four Chandigarh

Soc 269, Sector 44C, Chandigarh, U.T. Chandigarh 160043CBIN0284979NON-MICR22637966

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