Central Bank of India Car Loan Indore
Last Updated : March 24, 2017, 5:11 p.m.
About Central Bank of India Car Loan in Indore
Car loan is a loan granted for the credit purchase of a car. The financial institutions pay the money to the car dealer on behalf of a customer and redeem the same from him along with the interest. This loan can be availed by the people willing to buy the car but do not have adequate funds for the same. The car loan is provided by various financial and banking institutions. One amongst them is Central Bank of India. The bank issues car loan to the capable car buyers and helps them access their dream of buying a car. It sanctions the loan for the maximum period of 7 years on a purchase of a new car. The candidates can apply for the loan by visiting the bank branch nearest to their location. The bank has Pan India presence. The wide network of branches is spread in 29 states and 6 Union Territories. It has a significant number of branches in the city of Indore. Indore is the largest and most populous city of the Indian state of Madhya Pradesh. It serves as the headquarters of both Indore District and Indore Division. According to the Economic Times report, it is the commercial capital of the state. Indore has been selected as one of the 100 Indian cities to be developed as a smart city under Smart Cities Mission, it is an urban development vision to integrate multiple information and communication technology. It has also qualified the first round of Smart Cities Mission and has been selected as one of the first twenty cities to be developed as Smart Cities. The Central Bank of India too contributes to the development of the residents and city by providing valuable services. It offers car loan to all the eligible candidates in the city. The details of Car Loan Indore are mentioned below.
Central Bank of India Car Loan in Indore at a Glance
| Particulars | Details |
|---|---|
| Interest Rate | New Cars: 8.70% p.a. Pre-owned Cars: 9.80% p.a. |
| Loan Amount | New Cars : Max. upto ₹75 Lakh Pre-owned Cars: Max. upto ₹ 10 Lakh |
| Loan Tenure | New 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 Fee | As Per Bank Norms |
| Prepayment Fee | As 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 Proof | PAN Card/ Voter ID/Passport/Driving License, photograph |
| Income Proof | Form 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 Proof | Latest Telephone Bill/ Electricity Bill/ Property Tax Receipt/ Passport/ Voter ID |
| Signature Verification Proof | Driving License/ Passport copy/ PAN Card |
To know more check- Car Loan Indore
Address of Central Bank of India Branches in Indore
The branch address, IFSC Code, MICR Code and customer care details of Central Bank of India branches located in Indore are mentioned in the table below:
| Branch Name | Complete Address | IFSC Code | MICR Code | Contact Number |
|---|---|---|---|---|
| Cloth Market, Indore | P.B. NO. 25, Sitlamata Bazar Street, Indore | CBIN0280763 | 452016002 | 1800 200 1911 |
| CFB Siyaganj | Phase I Mth Compound, Palika Plaza, Indore M.P. | CBIN0280764 | 452016004 | 0731-2540335, 0731-2540250 |
| Mill Area, Indore | 20, Y. N. Road, Mill Area, Indore | CBIN0280765 | 452016003 | 0731-2540250, 0731-2434230 |
| Moti Tabela (B.C.) | I, Bargal Colony Moti - Tabela Indore 452004 | CBIN0280977 | 452016005 | 0731-2362793, 0731-2363512 |
| Sanyogitaganj, Indore | 153, Ravindranath Tagore Marg, Sanyogitaganj, Indore | CBIN0281097 | 452016006 | 0731-2704275 |
| Sudamanagar, Indore | Block 4 A, Sethigate Campus, Sudamanagar Road, Indore | CBIN0281384 | 452016007 | 0731-2481674 |
| Jankinagar, Indore | 5/1, Jankinagar, Navalkha Road, Indore | CBIN0282122 | 452016009 | 0731-2403911 |
| Indore NBO | 6/3 Race Course Road Indore | CBIN0282760 | 452016001 | 1800 200 1911 |
| Scheme 78 Indore | 328 B.G. Scheme 74 C, P.O. Vijay Nagar | CBIN0283133 | 452016011 | 0731-2559555 |
| Sanyogitaganj Digamber Jain Panchayat Pathshala Samiti, Navlakha, Indore | Digamber Jain School Building , Near Zoo, Navlakha Road , Indore ( M. P. ) | CBIN0012122 | 452016009 | 0731-2702912 |
| Hitawad, Indore | 3, Anand Nagar, Chitawad Road, Indore, Pincode: 452001 | CBIN0282754 | 452016010 | 0731-2401348 |
| Khajrana | 440, Goyal Nagar, Near Bangali Square, P.o. Indore, Pincode: 452018 | CBIN0283639 | NON-MICR | 0731-2595624 |
| T. Choitram Montesary High School, Indore | Manik Bag Marg, Dist - Indore, Madhya Pradesh - 452001 | CBIN0010977 | NON-MICR | 0731-2364146 |
| Mid Corporate Finance Branch, Indore | 323, Palika Plaza, 2nd Floor , Mthcamp, Indore, Madhya Pradesh, Pin - 452001 | CBIN0283827 | NON-MICR | 0731-2540335 |
| Airport Road Indore | 6, Vyanktesh Nagar, Airport Road Main, Indore, Dist - Indore, Madhya Pradesh - 452005 | CBIN0283895 | NON-MICR | 1800 200 1911 |
| Choitram, Indore | Manik Bag Marg, Dist - Indore, Madhya Pradesh - 452001 | CBIN0283953 | NON-MICR | 0731-2364146 |
| Sanmati School, Indore | Central Bank Of India , Digamber Jain School Building , Near Zoo, Navlakha Road , Indore ( M. P. ) | CBIN0283961 | NON-MICR | 0731-2702912 |
| Indore Regional Office | 6/3, Race Race Course Road, Mahatma Gandhi Road Dist - Indore, Madhya Pradesh - 452003 | CBIN0281126 | NON-MICR | 0731-2434512 |
| Indore Premier Co- Op. Bank Ltd. Indore | 24, Maharani Road, Indore (M.P.) Pin Code 452007 | CBIN0MPDCAO | NON-MICR | 0731-2533200 |