Central Bank Loan Against Property

Apply for a Central Bank of India Loan Against Property up to 10 crores at interest rates starting at 8.90% - 12.25% p.a along with a nominal processing fee. Central Bank offers highly customised mortgage loans for metro, urban, semi urban and rural borrowers across the country. You can instantly check loans against property eligibility with the online Lap Calculator. Borrowers of each income group & location can avail of Cent Mortgage Loan as a term loan or OD facility.

Apply for Central Bank Loan Against Property @ 8.90% - 12.25% Interest Rates

Details
Interest Rates
Property Charges
Features
Advantages
Security Required
Eligibility
Documents Required
How to Use EMI Calculator?

Central Bank of India Loan Against Property Details

Central Bank of India Loan Against Property is provided for multiple purposes. It can be availed by both salaried and self-employed individuals, professionals, and businessmen. The loan is also given for corporate companies, educational institutions, retailers, and wholesale traders.

The loan can be used for any purpose other than speculative and real estate purposes. The bank customises the loan as per the requirement of the borrower and offers various types of credit facilities under the Loan Against Property Scheme. The loan is provided both as a term loan as well as an overdraft facility.

Central Bank Loan Against Property Interest Rate

The Central Bank of India Mortgage loan Interest rate is different for different types of loans under the scheme. The rates, w.e.f. 10.04.2025, are linked to the Repo Based Lending Rate (RBLR), which is 6.50% as of now. The rates vary between 9.75% - 13%, depending on the scheme chosen and the risk associated with the borrower.

Compare Loan Against Property Interest Rates for Top Banks

Name of the Lender	Interest Rate (% p.a.)
HDFC Bank	9.50% - 11.00%
State Bank of India	10.10% - 11.65%
IDFC First Bank	9.00% - 20.00%
Federal Bank	11.15% - 14.80%
Home First	12.80% - 18.50%
Kotak Mahindra Bank	9.50% - 10.50%
PNB Housing Finance	9.00%
Bank of Baroda	10.85% - 16.50%
LIC Housing Finance	9.70% - 11.55%
Godrej Housing Finance	9.75% onwards
ICICI Bank	10.60% - 12.25%
Tata Capital	9%
Bajaj Housing Finance	9% - 14%

Central Bank of India Loan Against Property Charges

Apart from the interest rate, the following charges are applicable on Central Bank of India Loan Against Property:

Type of charge	Details
Processing charges	Cent Mortgage: 1% of the loan amount + GST with a maximum of Rs. 50,0000, if availed as a Term Loan and 0.50% + GST, Maximum Rs.5000/- For OD. Cent Trade: No processing charges for a loan up to 25,000. For a loan above 25,000 and up to 2 Lakhs, the charges will be collected at 250 per proposal and for loans above 2 Lakhs the charges will be collected at 0.50% of the loan amount. Cent Rental (both corporate and non-corporate): 1% of the loan amount with a minimum of 5,000 and a maximum of 2 Lakhs. Cent Mortgage for Educational Institutions: at 0.50% of the loan amount with a maximum of 20,000 if the loan is availed as a Term loan and a maximum of 10,000 if the loan is availed at an overdraft. Processing charges for renewal of overdraft will be collected at 0.50% of the loan amount with a maximum of 2,000 for every renewal.
Prepayment charges	No prepayment charges if the prepayment is done out of own sources and 1% of the outstanding loan amount if the loan is closed by balance transfer.
Late payment fee	Penalty at additional interest on the regular interest for the overdue amount for the overdue period.
Cheque bounce charges	Return of inward cheques due to insufficient funds: 200 plus interest at Base Rate + 4% for the period the account is out of funds. Return of inward cheques due to any other reason: 100 per instance. Return of outward cheques: 100 per instance

Types and Features of Central Bank of India Loan Against Property

The following are the different types of Central Bank of India Loan Against Property and their features:

Types:

Cent Mortgage
Corporate Mortgage
Cent Rental
Corporate Rental
Cent Trade
Cent Mortgage Scheme for Educational Institutes

Features:

Name of the product	Purpose	Quantum	Interest	Security	Repayment	Charges
Cent Mortgage	Any business/ personal requirements except for real estate, speculative, and capital market activity.	For properties located in rural/ semi-urban areas: The minimum loan is 5 Lakh and the maximum loan is 7.5 Crore. For properties located in district headquarters in semi-urban areas: The minimum loan is 5 Lakh and the maximum loan is 7.5 Crores. For properties located in urban/metro and semi-urban branches at Goa: The minimum quantum is 1 Lakh and the maximum quantum is 5 Crores.	9.75% - 13%	EMT/registered mortgage of residential house/flat or industrial/ commercial property owned by the borrower situated at rural/semi-urban/urban/metros and the title deeds eligible for a mortgage for any other purposes other than agricultural purposes. The property can be self-occupied, vacant, partially leased out or fully leased out.	The loan to be repaid in a maximum of 10 years period.	Processing charges: Nil Pre-payment charges:Nil
Cent Trade	For all legal trading/service/ manufacturing activities except for speculative activities.	The minimum quantum is 2 Lakhs The maximum quantum is 5 Crores. The loan can be availed only as an overdraft facility.	Contact Central Bank of India for interest rate details	EMT of the property against which the loan is granted. For a loan up to 20 Lakhs the market value of the property should be a minimum of 150% of the loan amount and the realisable value should be a minimum of 120% of the loan amount. For a loan above 20 Lakhs, the market value of the property should be a minimum of 200% of the loan amount and the realisable value should be a minimum of 150% of the loan amount.	Running account with renewal/ review every year	Processing charges: Nil Pre-payment charges:Nil
Cent Rental	The loan can be availed against future lease rentals estimate and can be utilised for any business or personal requirements and for any lawful activity other than speculative activities.	75% of the future rent receivables with a maximum of 10 Crores where the unexpired lease period is up to 3 years. 65% of the future rent receivables with a maximum of 10 Crores where the unexpired lease period is above 3 years and up to 6 years. 55% of the future rent receivables with a maximum of 10 Crores where the unexpired lease period is above 6 years and up to 8 years. 50% of the future rent receivables where the unexpired lease period is above 8 years and up to 10 years. Future rent receivables will be gross rent receivable for the unexpired lease period less the advance paid, property tax, income tax and any other statutory liabilities of the lessor.	10.50% - 11.35% p.a.	Security by way of: Assignment of the future rent receivables for the entire unexpired lease period. Equitable mortgage value of any property of the borrower with a value up to 100% of the loan amount if the loan is repayable within 3 years and 133% of the loan amount if the loan is repayable beyond 3 years. The value of the property should be 200% of the loan amount where the borrower cannot assign the future rent receivables for valid reasons. Personal guarantee of all the co-owners of the property and the directors of the company other than nominated/ professional directors.	The loan should be repaid within 10 years or the unexpired lease period, whichever is less for both term loan and overdraft. The entire rent collected for a month should be credited to the loan account.	Processing charges: 1% of the loan amount, minimum of 5,000 and maximum of 2 Lakhs Pre-payment charges: Nil
Cent Mortgage Scheme for Educational Institutes	The loan can be used for any operational expenses. Usage for speculative/ real estate and capital market activity is restricted.	The minimum quantum of loan is 1 Lakh. The maximum quantum is 5 Crores. The loan amount depends on the cash accruals, other liabilities and the value of the property mortgaged.	11.55% - 11.80% p.a.	Equitable Mortgage of the property in semi-urban/urban/metro areas. The value of the property should be 200% of the loan amount. The property should not be for any real estate activity. Personal guarantee of the trustees in the case of trust and the personal guarantee of chairman, treasurer, secretary in the case of a society.	The entire loan should be repaid within a maximum of 10 years	Processing charges:0.50% of the loan amount Pre-payment charges:Nil if done out of own sources and at 1% of the outstanding loan amount if done out a balance transfer.
Cent Corporate Mortgage	For any personal/ business requirement. The loan is not permitted to be used for speculative purposes, real estate, and capital activity.	For salaried individuals, the maximum quantum will be equal to 36 times the gross annual salary of the applicant. For non-salaried applicants, the maximum quantum will be 3 times the gross annual income as per the latest ITR. Maximum limit is 50 Lakhs for property located in rural areas and 2 Crores for property located at any other area. In the case of proprietorship/partnership firms and companies, the maximum quantum will be 5 times the average cash accruals as per the last 3 years audited financial statements, with a maximum of 50 Lakhs for property located in a rural area and 5 Crores for a property located in any other area.	Contact Central Bank of India for interest rate details	EMT of residential/ commercial/ industrial property that is either vacant, self-occupied, partially leased-out or fully leased-out. The value of the property should be 200% of the loan amount. A personal guarantee of the co-owner of the property should be available. In the case of Companies, personal guarantee of all the Directors should be available.	The entire loan should be repaid within a period of 10 years	Processing charges: 0.50% of the loan amount, with a maximum of 40,000 if the loan is availed as a term loan and 20,000 if availed as an overdraft In case of overdraft, renewal charges @ 0.50%, maximum 5,000 p.a. will be levied. Prepayment charges: Nil if the prepayment is done out of own sources and 1% of the loan amount if done by a balance transfer.
Cent Corporate Rental	For any business/ personal requirement except for speculative purposes	The maximum quantum of loan is 10 Crores, depending on the unexpired lease period as given below: 75% of the future rent receivables where the unexpired lease period is up to 3 years. 65% of the future rent receivables where the unexpired lease period is above 3 years and up to 6 years. 55% of the future rent receivables where the unexpired lease period is above 6 years and up to 8 years. 50% of the future rent receivables where the unexpired lease period is above 8 years and up to 10 years. Future rent receivables will be gross rent receivable for the unexpired lease period less the advance paid, property tax, income tax and any other statutory liabilities of the lessor.	Contact Central Bank of India for interest rate details	Security by way of: Equitable mortgage of any property of the borrower, with a value up to 100% of the loan amount if the loan is repayable within 3 years and 133% of the loan amount if the loan is repayable beyond 3 years. The value of the property should be 200% of the loan amount where the borrower cannot assign the future rent receivables for valid reasons. Assignment of the future rent receivables for the entire unexpired lease period. Personal guarantee of all the co-owners of the property and the directors of the company other than nominated/professional directors.	The loan should be repaid within the unexpired lease period or 10 years, whichever is earlier. The overdraft limit has to be renewed every year.	Processing charges: 1% of the loan amount with a minimum of 5,000 and a maximum of 2 Lakhs. Prepayment charges: 1% of the loan amount, if the loan is prepaid out of a balance transfer and nil charges, if the loan is pre-paid out of own funds.

You can also check Central Bank of India Balance Check Number

Advantages of Taking Central Bank of India Loan Against Property

The advantages of availing Central Bank of India Loan Against Property are:

Various categories of loans are available under the Loan Against Property scheme to suit individual requirement.
The Loan Against Property Interest Rate is competitive and starting at 9.75% - 13% p.a.
Flexible repayment options
Affordable processing and prepayment charges
No hidden charges
Simple and easy documentation

Security Required for Central Bank of India Loan Against Property

Equitable Mortgage of the property, both commercial and residential, situated in rural, semi-urban, urban, and metro areas where the property is permitted to be mortgaged for purposes other than agricultural purposes. For Cent Rental Corporate, the properties situated in rural areas are not eligible for the loan.

For Cent Rental, personal guarantee of co-owner of the property and the partners in the case of partnership firms and directors other than nominated and professional directors has to be provided.

For Cent Mortgage for Educational Institutions, personal guarantee of the trustees in the case of a trust and the personal guarantee of the chairman, secretary, and the treasurer in the case of a society have to be provided.

Eligibility for Central Bank of India Loan Against Property

The eligibility criteria for loan against property vary with the type of product chosen under the LAP Scheme.

The details of the various criteria are as given below:

The loan is provided against the mortgage of both residential as well as commercial/industrial properties located in Rural, Semi-Urban or Urban Areas and in Metros. In rural areas, only the properties that are eligible for a mortgage for non-agricultural purposes only will be accepted as security.
The minimum age for both the salaried and the self-employed should be 21 years and the maximum age stipulated for the salaried individuals is 60 years and for self-employed, it is 65 years.
The minimum annual income stipulated for salaried individuals is 2 Lakhs
Salaried individuals, self-employed individuals/professionals, businessmen, all types of traders including commission agents, companies/partnership/proprietorship firms engaged in trading, service activities and manufacturing except partnership firms where HUF is a partner are all eligible for the loan.
In the case of Cent Mortgage for Educational Institution, the vintage of the Educational Institution should be atleast 5 years and should have at least 2 batches of successful students who have passed out from the Institutions affiliated to various educational boards/Registered universities/UGC/AICTE/IMC, etc.
The property with the educational institution building situated in rural/semi-urban/urban areas and in metros is eligible for a mortgage.
The educational institution should not be involved in any real estate dealings or speculation
Where a loan takeover is permitted for educational institutions, the institution should restrict all their dealings to the Central Bank of India and should maintain their business account with the bank's branch.

Documents Required for Central Bank of India Loan Against Property

The documents mentioned below have to be submitted along with the appropriate application form for Loan Against Property and two passport size photographs.

Type of Document	Salaried	Self-employed
Address proof	Voter's ID Card, Aadhar Card, Driving Licence, Utility Bills
Photo ID proof	Passport, PAN Card, Driving Licence
Income proof	Latest salary slips for the last 3 months, Form 16 and ITR for the last 2 years. Bank Statement of the salary account for the last 6 months.	Financial documents like the audited balance sheet and profit and loss account for the last 3 years. ITR with income computation for the last 3 years. Bank account statement for the last 12 months Bank statement of loan accounts, if any, for the last 12 months.
Signature proof	Attestation of the signature by the present banker	A cancelled cheque of an operative account or signature attested by the present banker.
Property documents	Chain of documents pertaining to title deeds of all the earlier owners. Legal Scrutiny Report Valuation report Architects report ascertaining the age of the property Document required for loan against property by the bank to prove the marketable title of the property.

How to Use Loan Against Property EMI Calculator?

To use the Central Bank Mortgage Loan EMI Calculator, you will have to follow some simple steps:

Access the website of MyMoneyMantra
Choose the Loan Against Property EMI Calculator from the financial tools tab
Provide the details like loan amount, loan interest and tenure
EMI will be calculated instantly
A list of best quotes will appear
You can try various combinations using the data from the various quotes till you decide on the deal that suits your budget.
Continue with the filling up of loan application after deciding on the loan provider
The team of MyMoneyMantra will take it forward from here by collecting the application along with the required documents, submitting it to the loan provider and coordinating with the loan provider for quick disbursement.

FAQs

What is Central Bank Mortgage Loan Interest Rate?

The Mortgage Loan Interest rate ranges from 8.90% - 12.25% p.a., depending on the type of loan.

What kind of properties can be mortgaged for Central Bank of India Loan Against Property?

Mortgages of residential flats/houses and commercial/industrial properties are accepted for Central Bank of India Loan Against Property. You can also check Commercial Property Loan Online.