Looking for a Business Loan from Central Bank of India?

Your search ends right here. We bring you all the information you need to make a sensible and sound decision to select the best corporate business loan from Central Bank of India.

Business Loans from Central Bank of India

Being one of the oldest and largest public sector banks in India, Central Bank of India offers a wide range of financial products such as business loans, education loans, deposit schemes, etc. to its customers. As of April 2020, Central Bank of India offers two different business loan schemes to its corporate customers.

The business loans offered by Central Bank of India are:

  • Cent Mortgage Loan
  • Cent Rental Loan

We give you a brief introduction to each of these Central Bank of India business loans below. In addition you have the option to click further and read in detail about most of the loans in a specific page of their own. This specific page has been made specifically for you to get all the information you need on that loan in an uncluttered and easy-to-read format. In case information is less or not available, we have been not been able to create an information page as yet, but we may do so in the course of the next few months.

Central Bank of India Cent Mortgage Loan

This loan helps businesses meet their needs by availing a loan against property. The immovable property must be located in metro, urban or semi-urban centres. Property located in rural centre is eligible if it can be mortgaged for purposes other than agricultural use.

Features of Cent Mortgage Loan

Why this Loan?

  • The loan is meant for business owners who want to avail a loan against immovable property for meeting business or personal needs
  • The loan can be availed as Overdraft facility (OD) or Term Loan
  • The maximum loan amount for the Central Bank of India Cent Mortgage Loan is Rs. 2 crore for property located in metro, urban and sub-urban areas and Rs. 50 lakh for property located in rural area

For more details on this loan, please click anywhere on this sentence to get to its specific page.

Central Bank of India Cent Rental Loan Scheme (Loan Against Rent Receivables)

This loan is designed to help businesses meet the expenses of renovation, expansion or alteration to the property or other needs. This loan cannot be availed for speculative purposes. The maximum loan amount sanctioned under this scheme is Rs. 10 crore.

Featured of Central Bank of India Cent Rental Loan

Why this Loan?

  • The Central Bank of India Cent Rental Loan is the perfect corporate business loan to help landlords meet the expenses of alteration, addition and renovation to the premises or other needs but not for speculative purposes
  • The loan can be repaid through monthly rent as EMI for the unexpired period of lease

For more details on this loan, please click anywhere on this sentence to get to its specific page.

Important Note: Central Bank of India may offer more corporate loan options that are not yet published on the website. We suggest that you get in touch with the nearest branch to check the loan schemes they offer. This will also help you get a custom quote since many loan schemes are need-based and certain charges such as application charges, service charges, Strategic Premium, etc. may be decided on a case-to-case basis.

Interest Rate for Central Bank of India Business Loans

  • The interest rate for Central Bank of India Business Loans is defined as the sum of two factors, namely: Marginal Cost of Funds based Lending Rate (MCLR) and Strategic Premium where the Strategic Premium depends on various factors including the type of business, tenure of loan, etc.

Documents Needed for Individuals

  • Loan Application Form duly filled and signed by the applicant and co-applicant, if any
  • Two Passport Size Photographs of applicant and co-applicant
  • Personal ID Proof: Aadhaar Card, PAN Card, Passport or Driving License. PAN Card/PAN Card Issuing Letter is must
  • Signature Proof: PAN Card, Banker’s Verification, Driving License or Passport
  • Residential Address Proof (Any One): Aadhaar Card, Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
  • Income/Banking Proof: Last 6 months Bank Account Statement of applicant and co-applicant, Loan Statement of Running Loans, Latest Closed Loan NOC, Net Worth of the applicant and co-applicant
  • Security (as applicable): Margin Money, Previous and Current Sales Deed, Plant and Machinery list, Plant and Machinery Current Valuation Report, Property Photographs, Previous Property Search and Valuation Report

Documents Needed for Proprietorship and Partnership Firms

  • Loan Application Form duly filled and signed
  • Partnership Deed and Partnership Registration Certificate
  • ID Proof of the Firm: Firm PAN Card or PAN Issuing Letter
  • Office Address Proof: Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
  • Income Proof: CMA Data and Project Report, Debtors and Creditors Certificate, GST Return, Last 3 years ITR of applicant and co-applicant, Audited or CA Certified Computation of Income/Trading Account/Profit and Loss Account/Balance Sheet, Annual Audit Report and Tax Audit Report if audited, Form 16A if applicable, Net Worth of applicants, co-applicants and guarantors
  • Banking Proof: Last 1-year Statement of Company’s Major Account, Current Account, Cash Credit Account, Overdraft Account, Loan Statement of Running Loans, Latest Closed Loan NOC and Last 6-months Bank Statement of Applicant and Co-applicant’s Savings Account
  • Security (as applicable): Margin Money, Previous and Current Sales Deed, Plant and Machinery list, Plant and Machinery Current Valuation Report, Property Photographs, Previous Property Search and Valuation Report
  • Other Relevant Documents: Partnership’s Business Profile, Promoter/Guarantor’s Profile, Corporate Brochure, Business Experience Supporting Documents, Business References

Documents Needed for Private Limited and Public Limited Companies

  • Application Form duly filled and signed
  • Company ID Proof: Company’s PAN Card
  • Office Address Proof: Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
  • Business Proof: AOA and MOA, Company Incorporation Certificate, Business Commencement Certificate, Board Resolution, CA/CS verified Share Holding Pattern, ROC Annual Return, DIN Certificate, List of Directors on Company Letter Head, GST Number, Form 32 in case of Director Change
  • Income Proof: CMA Data and Project Report, Last 3 Years ITR Acknowledgement copy of Company and all Directors, Last 3 Years Annual Credit Report or Tax Audit Report with Article 3CB, Article 2D, Article 3CD, TDS Certificate/Form 16A, Net Worth Certificate
  • Banking Proof: Last 1-year Statement of Company’s Major Account, Current Account, Cash Credit Account, Overdraft Account, Loan Statement of Running Loans, Latest Closed Loan NOC and Last 6-months Bank Statement of Applicant and Co-applicant’s Savings Account
  • Security (as applicable): Margin Money, Previous and Current Sales Deed, Plant and Machinery list, Plant and Machinery Current Valuation Report, Property Photographs, Previous Property Search and Valuation Report
  • Other Relevant Documents: Company’s Business Profile, Promoter/Guarantor’s Profile, Corporate Brochure, Business Experience Supporting Documents, Business References

Reference Facts

  • Central Bank of India Website: www.centralbankofindia.co.in and www.centralbank.net.in (net banking)
  • Headquarters: Mumbai, Maharashtra
  • Call Centre Toll-Free Number: 1800 22 1911, 1800 110 001, 1800 180 1111