Consolidation Loans from Central Bank of India

Different Loans for Different People

As one of the popular public sector banks in India, Central Bank of India offers a range of financial products to different segments of its customer base. Central Bank of India offers different loan options for its business and retail customers. You can choose from a range of loans that are specifically suited for your different needs.

Central Bank of India Debt Consolidation Loans

Plastic money has its merits. However, it can make some people overspend without them even realising it. The credit card statement at the end of a billing cycle may come as a shock to them when they finally realise how much they spent in the previous month. If concrete measures are not implemented on time and spending sprees continue, this can lead to the building of credit card debt. Add loans to the mix and you have a person under debt which may range from a few thousand to lakhs of rupees.

Central Bank of India offers consolidation loans to help people deal with these debts effectively. These loans help customers pay off all their debts by using a single loan (consolidation loan). This can be a personal loan, loan against property, gold or securities. etc. Consolidation loans help you pare down your debt and live a stress-free life. They also help repair credit score, if implemented wisely.

Like most Indian banks, Central Bank of India does not brand a specific loan scheme as a consolidation loan. However, there are quite a few loans that can be used to consolidate your debt. They include:

  1. Cent Personal Loan
  2. Cent Liquid Scheme (Loan Against Shares)
  3. Cent Personal Gold Loan
  4. Cent Mortgage Loan
  5. Cent Pensioners
  6. Cent Swabhiman Plus (Reverse Mortgage Loan)
  7. Cent Home Loan Double Plus Scheme (Home Loan and Overdraft + Term Loan)
  8. OD Top-up Facility to Cent Home Loan Beneficiaries
  9. Cent Rental Loan

We give you a brief introduction to each of these consolidation loans below. In addition, you have the option to click further and read in detail about each loan (the link takes you to another page on our website). This specific page has been specifically designed so that you can get all the information you need on that loan in an uncluttered and easy-to-read format.


Please note that in some cases information is less or simply not available. In such instances, we have not been able to create a page on that loan as yet, but we may do so in the future if information becomes available.

Central Bank of India Cent Personal Loan

This loan helps borrowers get financial assistance to meet their urgent financial needs. Most people use personal loans to meet urgent expenses such as wedding expenses, travel expenses, medical expenses and so on. It can also be used to consolidate debts. Borrowers can avail this scheme to pay off their high-interest credit card debts and loans, thereby consolidating their debts.

Features of Cent Personal Loan

Why this Loan?


  • The Central Bank of India Cent Personal Loan is meant for borrowers who need financial assistance to meet urgent personal needs
  • This loan is specifically designed for salaried employees of public sector units and reputed private sector companies having completed at least one year of service and confirmed employees of reputed Indian and multinational companies having completed at least three years of service
  • This is an unsecured loan

Central Bank of India Cent Liquid Scheme

This loan helps borrowers get access to funds by pledging their securities such as shares, debentures, etc. to the bank. The main purpose of this loan is to help the borrower to meet any contingencies and personal needs such as a wedding, overseas travel and so on, however, it can easily be repurposed to consolidate the borrower’s debts.

Features of Cent Liquid Scheme – Loan Against Shares and Debentures

Why this Loan?

  • The Central Bank of India Cent Liquid Scheme is meant for borrowers who want to avail financial assistance by pledging shares, debentures, etc. for financial emergencies
  • Borrowers can also avail this scheme as a consolidation loan and pay off their high-interest credit card debts and loans
  • The maximum loan amount sanctioned under this loan scheme is Rs. 20 lakh

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 Personal 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

Central Bank of India Cent Mortgage Loan Scheme

This loan helps borrowers get access to funds by mortgaging their property to meet their urgent financial needs other than business or speculative purposes. While a mortgage loan can be used to meet financial expenses such as a wedding, foreign travel, higher education and so on, it can also be used as a consolidation loan to pay off your high-interest debts.

Features of Cent Mortgage Loan

Why this Loan?

  • The Central Bank of India Mortgage Loan is meant for borrowers who need assistance to meet financial needs other than for business, capital market or speculative purposes
  • 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
  • This loan is offered as a term loan or overdraft depending on the needs of the borrower

Central Bank of India Cent Pension Loan

This loan helps pensioners and family pensioners, pensioners get access to funds to meet their personal needs. While this secured loan can be used to meet expenses for overseas travel, medical exigencies and so on, it can also be used to consolidate high-interest debts. The maximum loan amount sanctioned under this loan scheme is Rs. 5 lakh for pensioners aged up to 75 years and Rs. 2 lakh for pensioners aged above 75 years.

Features of Cent Pension Loan Scheme

Why this Loan?

  • The Central Bank of India Cent Pension Loan is designed to help pensioners and family pensioners of retired employees of Central Bank of India, pensioners and family pensioners drawing pension from the bank and the pensioners getting their pension disbursed through Treasury/DPDO credited to Central Bank of India Savings Account are eligible for this loan
  • Borrowers can also avail this scheme to pay off their high-interest credit card debts and loans, thereby consolidating their debts

Central Bank of India Cent Swabhiman Plus (Reverse Mortgage Loan)

This loan helps senior citizens get access to funds by mortgaging their self-occupied residential property and convert it into liquid cash flows to meet their living expenses. This loan scheme can also be used for the repayment of an existing loan taken for the residential property to be mortgaged or to consolidate your debts.

Features of Cent Swabhiman Plus (Reverse Mortgage Loan for Senior Citizens)

Why this Loan?

  • The Central Bank of India Cent Swabhiman Plus is meant for senior citizens who need assistance to generate liquid cash flow to meet their living expenses. Only self-occupied residential property used as a primary permanent residence is considered by the bank for this loan
  • This loan is offered as a term loan or overdraft depending on the preference of the borrower
  • There are no prepayment charges on the loan

Central Bank of India Cent OD Facility to Pensioners

This loan helps pensioners and family pensioners drawing pension through Central Bank of India including ex-employees of the bank get access to funds to meet their personal needs. While this secured loan can be used to meet expenses for overseas travel expenses, medical emergencies and so on, it can also be used to consolidate high-interest debts.

Features of Cent OD Facility to Pensioners

Why this Loan?

  • The Central Bank of India Cent OD Facility to Pensioners is designed to help pensioners and family pensioners drawing pension from Central Bank of India including retired employees of the bank meet their genuine financial needs other than speculation, real estate investment or other prohibited activities
  • Borrowers can also avail this scheme to pay off their high-interest credit card debts and loans, thereby consolidating their debts
  • This is a collateral-free loan

Central Bank of India Cent Home Double Plus

This is a combo loan scheme through which Central Bank of India offers a home loan with an overdraft and a term loan to its customers. This is the perfect loan scheme since the home loan with overdraft serves the purpose of construction or acquiring a new/existing residential property and the term loan serves the purpose of a personal loan, consolidation loan, etc. depending on the needs of the borrower.

Features of Cent Home Double Plus (Home Loan with Overdraft and Term Loan)

Why this Loan?

  • The Central Bank of India Home Double Plus (loan) is meant for people who are looking for a home loan with overdraft facility to purchase a house and an additional term loan to meet their personal needs
  • Borrowers can use the term loan, which is the second part of this home double plus scheme, to pay off their high-interest debts, thereby using it as a consolidation loan
  • This is a secured loan

Central Bank of India Cent OD Top-up Facility to Cent Home Loan Beneficiaries

This loan helps Cent Home Loan Beneficiaries to meet their personal needs including wedding expenses, overseas travel expenses, medical emergencies, and so on. This loan cannot be availed for speculative reasons. This loan can be used to consolidate debt.

Features of Cent OD Top-up Facility to Cent Home Loan Beneficiaries

Why this Loan?

  • The Central Bank of India Cent OD Top-up Facility to Cent Home Loan Beneficiaries is designed to help Cent Home Loan borrowers to meet their genuine financial needs other than speculation, real estate investment or other prohibited activities
  • Borrowers can also avail this scheme as a consolidation loan to pay off their high-interest credit card debts and loans, thereby consolidating their debts

Central Bank of India Cent Rental Loan Scheme

This loan helps property owners who have let out or leased their property situated in metro, urban or semi-urban areas to government units, semi-government units, public sector undertakings, financial institutions, reputed corporations, multinational companies, etc. get access to funds to meet their personal needs. This secured loan can be used to meet expenses for overseas travel, medical exigencies and so on and also to consolidate high-interest debts.

Features of Cent Rental Loan Scheme (Loan Against Future Lease Rentals)

Why this Loan?

  • The Cent Rental Loan is designed to help borrowers who have let out or leased their property situated in metro, urban or semi-urban areas to government units, semi-government units, public sector undertakings, financial institutions, reputed corporations, multinational companies, etc. get access to funds to meet their personal needs
  • Borrowers can also avail this scheme to pay off their high-interest credit card debts and loans
  • This loan is offered as a term loan or overdraft

Important Note: Central Bank of India may offer more consolidation loan options that are not yet published on the website. If you prefer 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 Consolidation Loans

  • The applicable interest rate on these loans is defined as the sum of one-year Marginal Cost of Funds Based Lending Rate (MCLR)/Repo Rate and Credit Risk Premium. In certain cases, another factor called Spread, which is a constant value set by the bank, may be added to the computation of interest rate on certain loans

Documents Needed for Individuals (Salaried and Self-employed)

  • 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.

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

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