Cent Personal Loan Scheme

Purpose

To meet personal / domestic expenses & Takeover

Eligibility

Permanent Employees of Railways, Government institutions, Central and State Government, Schools, Hospitals, Municipal Bodies etc. having completed ONE year of service and having salary account with our Bank for 12 Months
OR
Confirmed/ Permanent employees of Indian/multinational Companies having completed minimum THREE years of service and having salary account with our Bank for 12 Months.

Minimum Gross Salary- Rs.1.80 Lakh p.a.

Note: Loan to be sanctioned to all permanent employees only

Facility

Term Loan

Quantum of Finance

24 times of gross salary subject to Maximum Rs.20 Lakh and Min. net take home pay 50% of gross salary after taking into consideration payment of statutory dues, repayment of various loans including the instalment of proposed loan.

*40% net take home pay is permitted only where employer’s undertaking is available.

Repayment period

84 Equated Monthly Installments (In multiples of 12)

Rate of Interest

RBLR + CRP (2.65%/3.40%) i.e. 12.00%/ 12.75% at present

Processing charges