Central Bank of India Personal Loan Interest Rates

Availing a personal loan is easy and simple with none other than Central Bank of India. The lender is best known for offering this unsecured credit facility to one and all at an attractive interest rate. Yes, the bank offers the personal loan to all the borrowers at competitive rates. In case, you want to know more about the same, simply read the page below.

Apply Personal Loan @ 10.75%* Rate

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Central Bank of India Personal Loan Interest Rates September 2020

ParticularsDetails
Interest Rate9.85% - 10.20%
Loan AmountUp to INR 500 Lakh
Tenure1-5 Years
Processing FeeINR 500 of the Loan Amount

Central Bank of India Personal Loan Balance Transfer Interest Rates

Go for personal loan balance transfer and enjoy the lower interest rates offered by Central Bank of India. Yes, on transferring your existing loan to Central Bank of India Personal Loan, you would be able to reduce your EMI and Interest Outgo burden in a hassle-free manner.

Central Bank of India Personal Loan Balance Transfer

If you are paying your existing personal loan somewhere else at a higher rate, think of switching to the Central Bank of India and save on your interest payments. Want to see the benefits of a balance transfer? Well, you can see the same through an example.

Example – If you have a personal loan of INR 10 lakh for 5 years at an interest rate of 14.99% per annum. After 3 years, you feel the need to reduce your obligations and want to switch your outstanding balance to Central Bank of India at 10.60%, you can do so and save interest of around INR 22,000. Check the table to know how you will have such savings.

ParticularsDetails
Loan AmountINR 10,00,000
Interest Rate14.99%
Tenure5 years
EMI for 14.99%INR 23,785
Total Interest Payment for 14.99%INR 4,27,081
Paid InterestINR 3,46,838
Outstanding BalanceINR 4,90,588
EMI @10.60% for the Remaining 2 YearsINR 22,774
Interest @10.60% Over 2 YearsINR 55,994
Paid Interest + Interest Payment @10.60%INR 4,02,832
Savings on EMIINR 1,011
Total Interest savedINR 24,249 (4,27,081-4,02,832)

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