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Central Bank Home Loan Eligibility Calculator

Central Bank of India Home Loan Eligibility in India 2021

Last Updated 10th Jun 2021

Eligibility CriteriaCentral Bank of India Home Loan
Eligible Age of Borrower18 - 60 years
Work Experience for Salaried2 years
Business Stability for Self Employed2 years
  • Central Bank of India home loan eligibility is dependent on factors like your age, income, property value and repayment capacity.
  • Central Bank calculates the amount of home loan you are eligible for using a formula that includes your net take home salary, the EMIs you have to pay and the value of property.
  • You can increase your eligibility to get a housing loan from Central Bank of India by adding earning family members as co-applicants or by applying for a longer tenure loan.
Home Loan Eligibility Calculator

Central Bank Home Loan Eligibility

Central Bank offers various home loan schemes and offers at affordable rates to eligible customers whether salaried or self-employed. Central Bank housing loan eligibility is based on factors like age, salary, occupation, property type and credit score. Detailed information on these factors is mentioned in the further sections.

Central Bank Home Loan Eligibility based on Age

  • Age: Your age plays an important role in determining your eligibility and repayment capacity for home loan. Lower your age, higher will be the time period available to repay the loan, and hence higher home loan amount eligibility. The minimum age limit to get Central Bank of India home loan is 18 years at the time of loan commencement and maximum age limit is 60 years. Central Bank of India offers home loans for a maximum period of 30 Years subject to the condition that the borrower’s age at the end of the tenure must not exceed 60 of tenure.

Central Bank Home Loan Eligibility based on Salary

  • Net income: Your net monthly income determines how much Central Bank of India home loan EMI you are capable of paying after meeting all the living expenses based on your standard of living. For instance, if your salary is ₹ 25,000 then at interest rate of 6.75% offered by Central Bank of India, the loan amount that you will be eligible for would be ₹ 27,62,184 to ₹ 47,40,574 depending on your age. Similarly, if your salary is ₹ 75,000, you might get eligible for a loan amount of ₹ 55,24,367 to ₹ 94,81,149 for the same property at the same rate depending on your age at the time of loan application. However, Central Bank of India asks for a net monthly income of ₹ 0 to avail a home loan.
Age Net Monthly Income (₹)
25,000 50,000 75,000
25 years47.41 Lakh71.11 Lakh94.81 Lakh
30 years47.41 Lakh71.11 Lakh94.81 Lakh
35 years44.76 Lakh67.15 Lakh89.53 Lakh
40 years40.96 Lakh61.44 Lakh81.93 Lakh
45 years35.49 Lakh53.24 Lakh70.99 Lakh
50 years27.62 Lakh41.43 Lakh55.24 Lakh

You may consider repaying any loans with short tenure and high EMI in order to increase your Central Bank of India home loan eligibility.

  • Nature of employment: Central Bank of India will check whether you are salaried or self-employed and the company and sector in which you are working. It also looks at your years of experience to check for job and income stability. Central Bank of India requires minimum income history and job stability of more than 2 years for salaried individuals and of 2 years for self-employed individuals.

Home Loan Eligibility Central Bank of India based on Value of Property

  • Value of property: Central Bank of India does not finance the entire property value. The maximum home loan eligibility would depend upon the value of the property as shown below:
Property Value LTV
Less than 30 Lakh90%
Between 30 Lakh and 75 Lakh80%
Above 75 Lakh75%
  • Property documents: Your property’s legal documents should be satisfactory and be cleared by the Central Bank of India's legal team.

The housing loan eligibility calculator of Central Bank of India can be a useful tool to assess your eligibility for the loan.

Minimum CIBIL Score for Central Bank Home Loan

  • CIBIL Score: Central Bank considers credit score as a barometer to gauge your past credit behaviour and hence, CIBIL score becomes the most important factor to define your eligibility to get a home loan. Higher credit score increases your chances to get loan approval from Central Bank However, low CIBIL score reduces your chances to get a home loan. Central Bank requires a minimum credit score of 650 to be eligible for a home loan.

Central Bank Housing Loan Eligibility Calculator based on FOIR

FOIR (Fixed Obligation to Income Ratio) is an important parameter used by Central Bank to determine your home loan eligibility. Central Bank of India considers all your fixed obligations like current EMIs into account while estimating your eligibility. Minimum FOIR required to be eligible for Central Bank of India home loan is 0.65. Calculate your eligibility with Central Bank of India home loan calculator and apply for eligible loan amount hassle free.

Central Bank of India Home Loan for Women Eligibility

Central Bank of India offers the same rates to women borrowers starting at 6.75% with similar eligibility criteria for home loan. In case of a joint home loan, the woman borrower also needs to be the co-owner of the property and should have a good credit history to get the joint home loan application passed for concessional rates.

How can I Check my Central Bank Home Loan Eligibility ?

To check Central Bank of India home loan eligibility perform the following steps:-

  • Go to the Central Bank of India website
  • Now navigate to the option Central Bank of India home loan
  • To check eligibility criteria use a home loan eligibility calculator.
  • Fill the required details like loan amount required, salary, age etc.

Also you can contact the bank by calling on their customer care number .

Other Loan Calculators


What is the criteria to get Central Bank of India home loan?

The basic criteria to get a home loan from Central Bank of India are as following:

Age18 - 60 years
Income ₹ 0
Income3 years for salaried, 5 years for self-employed
Credit score650 and above

How much home loan can I get on my salary from Central Bank of India?

The amount for which you are eligible is calculated based on the FOIR and LTV. The higher your income, and the least is your fixed obligations (mostly ongoing EMIs), the higher will be your eligibility for a home loan.

What is the minimum salary to get home loan from Central Bank of India?

The minimum salary required to avail home loan from Central Bank of India is ₹ 0.for salaried borrowers. The income criteria for self employed professionals or businessmen may vary in Central Bank of India.

Is Central Bank of India good for home loan?

The lowest interest rate provided by Central Bank of India is 7.30% which is a best rate in the market. There are no prepayment charges on floating rate based home loan. Hence, you can consider this as a good option for housing loan.

Does adding a co-applicant increase housing loan eligibility?

Yes, adding a co-applicant with an independent income source increases housing loan eligibility significantly. By doing so you will be able to get a higher loan amount and also both of you can save on taxes under Income Tax Act.

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Central Bank Home Loan News - Jun 2021
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    IIFL Home Finance signed a MOU with Central bank of India for co-lending. The Central bank will be providing 80% of the loan amount of IIFL.
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    On monday, the Central bank of India and Indiabulls Housing Finance Limited entered into a partnership to provide Home Loans under priority sector at competitive prices that will lead to a greater disbursement of Housing loans by both the entities.
  • 2020-06-30 : Central Bank of India Q4 loss narrowed
    Central bank of India reported narrowing of loss to Rs 1,529.07 crore for March quarter 2019-20 as provisions for bad loans declined. The bank reported a loss of Rs 2,477.41 crore in January-March, 2018-19. Total income backed by the retail loan like home, personal, gold, two-wheeler, car along with business and mudra loan, grew to Rs 6,723.73 crore in the three months to March.
  • 2020-01-14 : Central Bank of India plans to ease loan management for customers
    Public sector lender, Central Bank of India, plans to ease the loan management for its customers by setting an end-to-end loan life cycle management system. The system will help customers by guiding them about retail loans like personal and home loans, by informing them about loan-related concepts like credit monitoring and collateral management. Further, this will also help the Bank in the systematic management of loan borrowers.
  • 2019-11-14 : Central Bank to start loan drive
    Central Bank of India would start a loan drive named “Double Delight” on Friday. Bank aims to offer loans to customers for home, vehicle, and MSMEs at a low rate of interest. Central Bank has also waived off the processing on a home loan, personal loan, and car loan. The purpose of the campaign is to provide a maximum number of loans, repo rate linked interest rates on home and car loan.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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