Central Bank Of India Two Wheeler Loan:
- Purchasing a two-wheeler is now easier with Cent-Vehicle offered at Central Bank of India Two Wheeler Loan interest rate. You may apply if you are eligible according to Central Bank of India Two Wheeler Loan eligibility conditions.
- Finance is available for e-bikes as well. Central Bank of India Two Wheeler Loan rate remains same.
Central Bank Of India Two Wheeler Loan Interest Rate:
- Tenure stretching to a maximum of 3 years: 11.50% per annum
- Tenure exceeding 3 years: 12.50% per annum
- Basis for determination of Central Bank of India Two Wheeler Loan rate: base rate equal to 9.50% per annum
Central Bank Of India Two Wheeler Loan Eligibility Norms:
- Persons who are at least 18 years of age when applying
- Organizations: all legal entities that are registered, such partnership firms, sole proprietorship, companies (private and public); government bodies
- Salaried employees and non-salaried individuals: minimal income of Rs.5000 / month and Rs.60, 000 per annum respectively
- Net take-home pay for salaried persons, should not be less than 60% of gross-total
- Central Bank of India Two Wheeler Loan interest rate remains uniform across all categories of applicants according to Central Bank of India Two Wheeler Loan eligibility conditions.
Quantum Of Central Bank Of India Two Wheeler Loan:
- Maximum loan amount may range from Rs.20 lacs to Rs.40 lacs, depending on make of bike
- Margin at: 15% if sanctioned amount is a maximum of Rs.20 lacs and 25% if amount is more than Rs.20 lacs
Procedure To Apply For Central Bank Of India Two Wheeler Loan:
- Security mandatory:
a) Primary: Hypothecation of vehicle
b) Collateral: no requirement
- Third party guarantee is required if amount sanctioned exceeds Rs.5 lacs
- Above condition remains uniform for all categories of borrowers as per Central Bank of India Two Wheeler Loan eligibility conditions
- Processing fee, one-time charge is levied independently of Central Bank of India Two Wheeler Loan rate: Rs.500 per application
Tenure Of Central Bank Of India Two Wheeler Loan:
Stipulated tenure of loan is equivalent to 4 years and whole amount disbursed, namely principal and interest accrued on it, at Central Bank of India Two Wheeler Loan rate should be reimbursed within above.
Repayment Of Central Bank Of India Two Wheeler Loan:
- Irrespective of class of borrower as per Central Bank of India Two Wheeler Loan eligibility conditions, repayment should be done by 48 equated monthly installments.
- Installment amount comprises of interest levied at Central Bank of India Two Wheeler Loan interest rate and principal.
Prepayment Of Central Bank Of India Two Wheeler Loan:
- If repayment is done via transfer to any sundry third party, which is a Financial Institution, penalty at 1% is charged.
- You may also pre-close account from your personal resources and no such penalty would be charged then.
- Pre-payment fee is charged apart from Central Bank of India Two Wheeler Loan interest rate.
Product Page URL Of Central Bank Of India Two Wheeler Loan: You may access more details about loan, such as Central Bank of India Two Wheeler Loan rate at:https://www.centralbankofindia.co.in/site/MainSite.aspx?status=2&menu_id=119
Branch Office Address (In Table):
City | Branch | Address | Phone number |
Delhi | DARYAGANJ | 13-9, NETAJI SUBHASH MARG, DARYAGANJ, NEW DELHI | (011) 23271409 |
Mumbai | BORIVILI | GANESH BHAVA, PAI NAGAR, BORIVILI (WEST), MUMBAI - 400092 | (022) 28931696 |
Kolkata | BOW BAZAR | 156, BEPEN BEHARI GANGULI STREET, BAITHAKHANA MARKET, KOLKATA | (033) 23500629 |
Chennai | CHINA BAZAR | MEHTA MANSION, 27, BUNDER STREET, CHENNAI | (044) 25388013 |
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