Central Bank of India Cent Personal Gold Loan

Gold Loan from Central Bank of India

Leverage the power of your gold jewellery and gold coins to pay off your debts

Central Bank of India Cent Personal Gold Loan

This loan helps borrowers access needed funds by pledging their gold jewellery or specially-minted gold coins sold by banks. This secured loan can be used to meet any financial needs such as a wedding, overseas travel, higher education, etc. as well as to consolidate high-interest debts.

Features of Cent Personal Gold Loan from Central Bank of India

Why this Loan?

  • The Central Bank of India Cent Gold Loan is meant for borrowers who want to avail financial assistance by pledging gold jewellery or specially minted gold coins sold by any bank to meet their financial needs
  • Being a secured loan, borrowers can avail this scheme as a consolidation loan and pay off their high-interest credit card debts and loans, thereby consolidating their debts

Loan Amount

  • The maximum loan amount sanctioned by the bank under this loan is decided by the bank on a case to case basis


  • The interest rate applicable to this loan is defined as the sum of one-year Marginal Cost of Funds based Lending Rate (MCLR) and Strategic Premium of 2.00% (floating). As of October 2020, the interest rate applicable to this loan is 9.05%


  • This loan must be repaid within 12 months from the date of sanction


  • True owners of the gold ornaments, jewellery or specially minted gold coins sold by the banks are eligible for this loan

Margin Money (Borrowers Contribution to Total Cost)

  • The bank charges 30% of the value at the time of sanction

Note: Margin money refers to the amount the borrower contributes to the overall amount required. The bank will cover the rest. So, if the total amount needed is Rs. 20 lakh, a margin of 20% means you will have to contribute Rs. 4 lakh. The bank will provide the balance of Rs. 16 lakh.

Security Needed

  • The bank accepts pledging of 22-carat gold ornaments or gold coins to secure this loan

Processing Charges

  • The bank charges up to 0.50% of the loan amount for processing this loan

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 for Salaried Professionals: Last 3 months’ salary slip, Form 16 or income tax returns
  • Income/Banking Proof for Self-employed Professionals/Insurance Agents: Computation of income of last 2 years, Balance Sheet, Profit and Loss Account, Registration Certificate, GST Return, Income Tax Challan/ Form 26AS/TDS Certificate, IT Assessment, etc.

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