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Central Bank of India Loan against Property
The Central Bank of India provides a loan facility called LPA (Loan Against Property), allowing eligible customers to mortgage their property for personal or business needs. This loan is available for salaried individuals who meet the eligibility criteria of a minimum age of 21 years and a minimum gross annual income of Rs. 2.00 lakh. The loan amount varies from Rs. 1.00 lakh to Rs. 500.00 lakh, depending on the location of the property and the security offered.
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Central Bank of India Loan against Property
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Central Bank of India Loan against PropertyHere are a few factors
| Location | PAN India |
| CIBIL Score | 675+ |
| Applicant | Any Salaried or Self Employed Person |
| Applicant Age | 18 Year to 75 Year |
| Loan Amount & Tenure | 10
Lac to No Limit (1 Year to 7 Year) |
| Login Fees | NIL |
| Rate of Interest & Type | 9.50% to 12% (Reducing) |
| TAT | 15 Days |
| Processing Fees | Upto 1% of Loan amount |
| Foreclosure Charges | NIL |
| Insurance | Property Insurance |
| Minimum Business Vintage | 2 Year |
| Lock In Period | NIL |
| Part Payment Allowed | Yes |
| LTV | Upto 60% of Market Value |
| Product | BT+Top UP, Fresh Loan, Seller BT, LRD |
| Program | Income Program |
| FOIR | 1.
Salaried- 4-6 Time of gross annual Salary 2. Self Employed-4-5 time of average annual income of last 3 year |
| Cautious Profile | No Cautious Profile |
| Negative Profile | No Negative Profile |
| Funded Property | Residential
Property, Commercial Property, Industrial Property, Plot, School, Hospital, Hotel, Mall, Godown |
| Negative Property | Un-approved Property |
| Accepted Collateral | Other than negative property |
| Minimum Job Experience for Salaried Person | 3 Year |
| Experience with Current Employer | 6 month |
| Any Specific Product for Professionals | No |
| USP | No Negative Profile |
| Additional | Chain of property must be clear Property chain for last 30 year |
Central Bank of India Loan against Property EMI Calculator
Interest Type
Loan Amount
Interest Rate
Loan Tenure
| Loan Amount | ₹100,000 |
| Interest % | 9 % |
| Tenure (months) | 12 |
| Emi (monthly) | ₹ 8,745 |
| Total Interest | ₹ 4,942 |
| Loan Amount + Interest | ₹ 104,942 |
| Year | Total Principal ( A ) | Total Interest ( B ) | Balance ( A + B) | Total Payment | Loan Paid Till Date (%) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ₹ 24,165 | ₹ 2,070 | ₹ 26,235 | ₹ 75,835 | 24.16 % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ₹ 75,832 | ₹ 2,873 | ₹ 78,705 | ₹ 3 | 100.00 % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Right Documents - Easy ProcessDocuments required for Central Bank of India Loan Against Property
Salaried income documents
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KYC of applicant & Co-Applicant
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Last 3 Month Salary Slip of Applicant
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Last 12 month Bank Statement of applicant & co-applicant
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Last 3 year ITR with computation of income of applicant & co-applicant
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Last 2 Year Form 16 of applicant
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26AS of last 2 year of applicant & co-applicant
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Appointment letter of applicant if available
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Agreement to Sale if purchase case
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Property Paper with complete chain of last 13 years
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LOD (List of documents), Foreclosure Statement & SOA (Statement of account) if BT case
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Sanction letter of all running loan
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Latest utility Bill if owned residence or rent agreement if rented
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2 Reference with contact details
Self Employed person documents
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KYC of applicant & Co-Applicant
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Last 3 year ITR with computation of income of applicant & co-applicant
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Last 3 year audited balance sheet of applicant
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Last 3 year Tax audit report of applicant
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Last 12 month Bank Statement of applicant & co-applicant
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26AS of last 2 year of applicant & co-applicant
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Copy of GST registration
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Copy of MSME registration
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Copy of Last 12 month GST return
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Agreement to Sale if purchase case
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Property Paper with complete chain of last 13 years
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LOD (List of documents), Foreclosure Statement & SOA (Statement of account) if BT case
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Sanction letter of all running loan
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Debt Sheet
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Latest utility Bill of residence if owned or rent agreement if rented
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Latest utility Bill of Office if owned or rent agreement if rented
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2 Reference with contact details
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Last 3 year Debtors & Creditors on letter head
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List of Directors & Shareholders, if applicant if Company or List of Partners if applicant is Partnership firm/LLP
Some Important Points
If Applicant is
- Company-MOA, AOA, COI , PAN Card
- Partnership Firm/LLP- Partnership Deed & PAN Card
- Proprietorship Firm- PAN Card, Adhaar Card, Passport size photo
- KYC means Adhaar Card, PAN Card, Passport Size Photo
Co-Applicant means in case of
- Company : Directors
- Partnership firm/LLP : Partners
- Proprietorship Firm : Spouse of Proprietor
3. If applicant is professional, then his professional degree is required
About Central Bank of India Loan Against Property
Avail a Loan Against Property from the Central Bank of India up to Rs. 10 crores with an interest rate that begins at 13.75 p.a. and a minimal processing charge. For customers in the country's metro, urban, semi-urban, and rural areas, the Central Bank provides highly personalized mortgage loans. With an online LAP Calculator, you can quickly determine whether a loan is eligible against a property. Cent Mortgage is available as a term loan or an OD facility to borrowers in all income brackets and locations.
This loan is often taken out to cover large costs like investments, business growth, or home improvements. In India, there is a widespread variety of mortgage loans.
Save Your Time with a Simple Loan Process
Visit Our Website
For the first step, you will have to visit our website to explore the loan options that fit your needs.
Select and Apply
Once you shortlist the loan you have been looking for, apply for it, and proceed with the further process.
Submit Your Document
One of the most important steps. Now you will have to submit all the required documents digitally.
Enjoy Your Financial Freedom!
Once your application is approved based on your eligibility, you will receive your loan amount shortly.
Let us take an example, How EMI is being calculated
| Year | Principal (A) |
Interest (B) |
Total Payment (A + B) |
Balance | Loan Paid To Date |
|---|---|---|---|---|---|
| 2022 | ₹ 83,031 | ₹ 38,627 | ₹ 1,21,658 | ₹ 9,16,969 | 8.30% |
| Jul | ₹ 13,610 | ₹ 6,667 | ₹ 20,276 | ₹ 9,86,390 | 1.36% |
| Aug | ₹ 13,700 | ₹ 6,576 | ₹ 20,276 | ₹ 9,72,690 | 2.73% |
| Sep | ₹ 13,792 | ₹ 6,485 | ₹ 20,276 | ₹ 9,58,898 | 4.11% |
| Oct | ₹ 13,884 | ₹ 6,393 | ₹ 20,276 | ₹ 9,45,014 | 5.50% |
| Nov | ₹ 13,976 | ₹ 6,300 | ₹ 20,276 | ₹ 9,31,038 | 6.90% |
| Dec | ₹ 14,069 | ₹ 6,207 | ₹ 20,276 | ₹ 9,16,969 | 8.30% |
| 2023 | ₹ 1,76,332 | ₹ 66,985 | ₹ 2,43,317 | ₹ 7,40,637 | 25.94% |
| Jan | ₹ 14,163 | ₹ 6,113 | ₹ 20,276 | ₹ 9,02,805 | 9.72% |
| Feb | ₹ 14,258 | ₹ 6,019 | ₹ 20,276 | ₹ 8,88,548 | 11.15% |
| Mar | ₹ 14,353 | ₹ 5,924 | ₹ 20,276 | ₹ 8,74,195 | 12.58% |
| Apr | ₹ 14,448 | ₹ 5,828 | ₹ 20,276 | ₹ 8,59,746 | 14.03% |
| May | ₹ 14,545 | ₹ 5,732 | ₹ 20,276 | ₹ 8,45,202 | 15.48% |
| Jun | ₹ 14,642 | ₹ 5,635 | ₹ 20,276 | ₹ 8,30,560 | 16.94% |
| Jul | ₹ 14,739 | ₹ 5,537 | ₹ 20,276 | ₹ 8,15,821 | 18.42% |
| Aug | ₹ 14,838 | ₹ 5,439 | ₹ 20,276 | ₹ 8,00,983 | 19.90% |
| Sep | ₹ 14,937 | ₹ 5,340 | ₹ 20,276 | ₹ 7,86,046 | 21.40% |
| Oct | ₹ 15,036 | ₹ 5,240 | ₹ 20,276 | ₹ 7,71,010 | 22.90% |
| Nov | ₹ 15,136 | ₹ 5,140 | ₹ 20,276 | ₹ 7,55,874 | 24.41% |
| Dec | ₹ 15,237 | ₹ 5,039 | ₹ 20,276 | ₹ 7,40,637 | 25.94% |
| 2024 | ₹ 1,90,967 | ₹ 52,350 | ₹ 2,43,317 | ₹ 5,49,670 | 45.03% |
| Jan | ₹ 15,339 | ₹ 4,938 | ₹ 20,276 | ₹ 7,25,298 | 27.47% |
| Feb | ₹ 15,441 | ₹ 4,835 | ₹ 20,276 | ₹ 7,09,857 | 29.01% |
| Mar | ₹ 15,544 | ₹ 4,732 | ₹ 20,276 | ₹ 6,94,313 | 30.57% |
| Apr | ₹ 15,648 | ₹ 4,629 | ₹ 20,276 | ₹ 6,78,665 | 32.13% |
| May | ₹ 15,752 | ₹ 4,524 | ₹ 20,276 | ₹ 6,62,913 | 33.71% |
| Jun | ₹ 15,857 | ₹ 4,419 | ₹ 20,276 | ₹ 6,47,056 | 35.29% |
| Jul | ₹ 15,963 | ₹ 4,314 | ₹ 20,276 | ₹ 6,31,094 | 36.89% |
| Aug | ₹ 16,069 | ₹ 4,207 | ₹ 20,276 | ₹ 6,15,025 | 38.50% |
| Sep | ₹ 16,176 | ₹ 4,100 | ₹ 20,276 | ₹ 5,98,848 | 40.12% |
| Oct | ₹ 16,284 | ₹ 3,992 | ₹ 20,276 | ₹ 5,82,564 | 41.74% |
| Nov | ₹ 16,393 | ₹ 3,884 | ₹ 20,276 | ₹ 5,66,172 | 43.38% |
| Dec | ₹ 16,502 | ₹ 3,774 | ₹ 20,276 | ₹ 5,49,670 | 45.03% |
| 2025 | ₹ 2,06,817 | ₹ 36,499 | ₹ 2,43,317 | ₹ 3,42,852 | 65.71% |
| Jan | ₹ 16,612 | ₹ 3,664 | ₹ 20,276 | ₹ 5,33,058 | 46.69% |
| Feb | ₹ 16,723 | ₹ 3,554 | ₹ 20,276 | ₹ 5,16,335 | 48.37% |
| Mar | ₹ 16,834 | ₹ 3,442 | ₹ 20,276 | ₹ 4,99,501 | 50.05% |
| Apr | ₹ 16,946 | ₹ 3,330 | ₹ 20,276 | ₹ 4,82,555 | 51.74% |
| May | ₹ 17,059 | ₹ 3,217 | ₹ 20,276 | ₹ 4,65,495 | 53.45% |
| Jun | ₹ 17,173 | ₹ 3,103 | ₹ 20,276 | ₹ 4,48,322 | 55.17% |
| Jul | ₹ 17,288 | ₹ 2,989 | ₹ 20,276 | ₹ 4,31,035 | 56.90% |
| Aug | ₹ 17,403 | ₹ 2,874 | ₹ 20,276 | ₹ 4,13,632 | 58.64% |
| Sep | ₹ 17,519 | ₹ 2,758 | ₹ 20,276 | ₹ 3,96,113 | 60.39% |
| Oct | ₹ 17,636 | ₹ 2,641 | ₹ 20,276 | ₹ 3,78,477 | 62.15% |
| Nov | ₹ 17,753 | ₹ 2,523 | ₹ 20,276 | ₹ 3,60,724 | 63.93% |
| Dec | ₹ 17,872 | ₹ 2,405 | ₹ 20,276 | ₹ 3,42,852 | 65.71% |
| 2026 | ₹ 2,23,983 | ₹ 19,334 | ₹ 2,43,317 | ₹ 1,18,869 | 88.11% |
| Jan | ₹ 17,991 | ₹ 2,286 | ₹ 20,276 | ₹ 3,24,862 | 67.51% |
| Feb | ₹ 18,111 | ₹ 2,166 | ₹ 20,276 | ₹ 3,06,751 | 69.32% |
| Mar | ₹ 18,231 | ₹ 2,045 | ₹ 20,276 | ₹ 2,88,520 | 71.15% |
| Apr | ₹ 18,353 | ₹ 1,923 | ₹ 20,276 | ₹ 2,70,167 | 72.98% |
| May | ₹ 18,475 | ₹ 1,801 | ₹ 20,276 | ₹ 2,51,691 | 74.83% |
| Jun | ₹ 18,598 | ₹ 1,678 | ₹ 20,276 | ₹ 2,33,093 | 76.69% |
| Jul | ₹ 18,722 | ₹ 1,554 | ₹ 20,276 | ₹ 2,14,371 | 78.56% |
| Aug | ₹ 18,847 | ₹ 1,429 | ₹ 20,276 | ₹ 1,95,523 | 80.45% |
| Sep | ₹ 18,973 | ₹ 1,303 | ₹ 20,276 | ₹ 1,76,550 | 82.34% |
| Oct | ₹ 19,099 | ₹ 1,177 | ₹ 20,276 | ₹ 1,57,451 | 84.25% |
| Nov | ₹ 19,227 | ₹ 1,050 | ₹ 20,276 | ₹ 1,38,224 | 86.18% |
| Dec | ₹ 19,355 | ₹ 921 | ₹ 20,276 | ₹ 1,18,869 | 88.11% |
| 2027 | ₹ 1,18,869 | ₹ 2,789 | ₹ 1,21,658 | ₹ 0 | 100.00% |
| Jan | ₹ 19,484 | ₹ 792 | ₹ 20,276 | ₹ 99,385 | 90.06% |
| Feb | ₹ 19,614 | ₹ 663 | ₹ 20,276 | ₹ 79,772 | 92.02% |
| Mar | ₹ 19,745 | ₹ 532 | ₹ 20,276 | ₹ 60,027 | 94.00% |
| Apr | ₹ 19,876 | ₹ 400 | ₹ 20,276 | ₹ 40,151 | 95.98% |
| May | ₹ 20,009 | ₹ 268 | ₹ 20,276 | ₹ 20,142 | 97.99% |
| Jun | ₹ 20,142 | ₹ 134 | ₹ 20,276 | ₹ 0 | 100.00% |
FREQUENTLY ASKED QUESTIONS
Central Bank of India
LAP is a loan product offered by Central Bank of India that allows customers to
avail of a loan against their property as collateral.
The maximum loan amount
that a customer can get through Central Bank of India LAP is up to Rs. 5
crores, subject to the value of the property and other eligibility criteria.
The repayment tenure for
Central Bank of India LAP can be selected by the customer, and it ranges from 3
years to 15 years depending on their preference and eligibility.
Central Bank of
India LAP accepts various types of properties as collateral, including
residential, commercial, and industrial properties, provided they meet the
bank's eligibility criteria.
The interest rate
offered by Central Bank of India LAP depends on various factors such as the
loan amount, property value, and customer's creditworthiness.
Yes, there is a
processing fee applicable for Central Bank of India LAP. The fee varies
depending on the loan amount and other factors.
The eligibility criteria
for Central Bank of India LAP include factors such as the customer's age,
income, property value, credit score, and repayment capacity.
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