Central Bank of India Car Loan Indore

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

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

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 NameComplete AddressIFSC CodeMICR CodeContact Number
Cloth Market, Indore
P.B. NO. 25, Sitlamata Bazar Street, IndoreCBIN02807634520160021800 200 1911
CFB Siyaganj

Phase I Mth Compound, Palika Plaza, Indore M.P.CBIN02807644520160040731-2540335, 0731-2540250
Mill Area, Indore
20, Y. N. Road, Mill Area, IndoreCBIN02807654520160030731-2540250, 0731-2434230
Moti Tabela (B.C.)

I, Bargal Colony Moti - Tabela Indore 452004CBIN02809774520160050731-2362793, 0731-2363512
Sanyogitaganj, Indore

153, Ravindranath Tagore Marg, Sanyogitaganj, IndoreCBIN02810974520160060731-2704275
Sudamanagar, Indore

Block 4 A, Sethigate Campus, Sudamanagar Road, IndoreCBIN02813844520160070731-2481674
Jankinagar, Indore
5/1, Jankinagar, Navalkha Road, IndoreCBIN02821224520160090731-2403911
Indore NBO
6/3 Race Course Road IndoreCBIN02827604520160011800 200 1911
Scheme 78 Indore

328 B.G. Scheme 74 C, P.O. Vijay NagarCBIN02831334520160110731-2559555
Sanyogitaganj Digamber Jain Panchayat Pathshala Samiti, Navlakha, IndoreDigamber Jain School Building , Near Zoo, Navlakha Road , Indore ( M. P. )CBIN00121224520160090731-2702912
Hitawad, Indore

3, Anand Nagar, Chitawad Road, Indore, Pincode: 452001CBIN02827544520160100731-2401348

440, Goyal Nagar, Near Bangali Square, P.o. Indore, Pincode: 452018CBIN0283639NON-MICR0731-2595624
T. Choitram Montesary High School, Indore
Manik Bag Marg, Dist - Indore, Madhya Pradesh - 452001CBIN0010977NON-MICR
Mid Corporate Finance Branch, Indore

323, Palika Plaza, 2nd Floor , Mthcamp, Indore, Madhya Pradesh, Pin - 452001CBIN0283827NON-MICR
Airport Road Indore

6, Vyanktesh Nagar, Airport Road Main, Indore, Dist - Indore, Madhya Pradesh - 452005CBIN0283895NON-MICR
1800 200 1911
Choitram, Indore

Manik Bag Marg, Dist - Indore, Madhya Pradesh - 452001CBIN0283953NON-MICR0731-2364146
Sanmati School, Indore

Central Bank Of India , Digamber Jain School Building , Near Zoo, Navlakha Road , Indore ( M. P. )CBIN0283961NON-MICR
Indore Regional Office

6/3, Race Race Course Road, Mahatma Gandhi Road Dist - Indore, Madhya Pradesh - 452003CBIN0281126NON-MICR
Indore Premier Co- Op. Bank Ltd. Indore24, Maharani Road, Indore (M.P.) Pin Code 452007CBIN0MPDCAONON-MICR

Personal Loan Interest Rates February 2024
HDFC Bank10.75% - 14.50%
ICICI Bank10.75% - 19.00%
IndusInd Bank10.25% - 26.00%
Kotak Bank10.99%
RBL14.00% - 23.00%
SMFG India Credit12.00% - 24.00%
Standard Chartered Bank11.49%
Tata Capital10.50% - 24.00%
Home Loan Interest Rates February 2024
Axis Bank8.75% - 9.15%
Bank of Baroda8.50% - 10.60%
Citibank8.75% - 9.15%
HDFC8.50% - 9.40%
ICICI Bank9.00% - 9.85%
Indiabulls Housing Finance Limited8.65%
Kotak Bank8.70%
LIC Housing8.50% - 10.50%
Piramal Capital & Housing Finance10.50%
PNB Housing Finance8.50% - 10.95%
Reliance Home Finance8.75% - 14.00%
State Bank of India/SBI9.10% - 9.65%
Tata Capital8.95% - 12.00%