Central Bank of India Car Loan in Chennai

Last Updated : Sept. 5, 2017, 1:26 p.m.

About Central Bank of India Car Loan Chennai

The carefree ride on vacant roads taken in an owned car gives immense pleasure. When you have nothing to worry about, just drive for miles and miles without thinking of anything else. Moreover, with your own car, you don’t have to depend on anyone else. You can drive wherever and whenever you feel like. You can reach on time to your workplace. There are lot more advantages of having a car. But people restrain themselves from having a one because of the amount of funds involved in purchasing it. People find it difficult to arrange the lump sum amount. But in today’s time, it is not difficult to get a car. There are a lot of financial institutions that provide a car loan to the eligible candidates and assist them in bringing home their dream car. These institutions in return charge interest on the lended amount. The borrower has to repay the loan amount along with the interest charged in the form of EMIs. The payment in installments reduces the burden of the borrower. This burden can further be reduced by selecting the correct lender. It is always advised to search for the lender who provides the funds at a reasonable rate of interest and is trustworthy.
When it comes to trust, you can definitely rely on Central Bank of India. It is a government- owned bank that was established a century ago in the year 1911. It is one of the leading banks in the country. This bank has been serving the financial needs of the citizens of the country for long and has earned the faith of people by rendering quality services. It provides customized banking products as per the requirement of the individual. The bank supports the individual’s dream of owning a car and disburses car loan to turn that dream into reality. More information about the car loan is given in the table below.

Central Bank of India Car Loan in Chennai at a Glance

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:

For more details read- Car Loan Chennai

Address of Central Bank of India Branches in Chennai

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