{"id":4760,"date":"2018-05-28T23:49:44","date_gmt":"2018-05-28T18:19:44","guid":{"rendered":"https:\/\/www.antworksmoney.com\/blog\/?page_id=4760"},"modified":"2019-09-25T12:22:33","modified_gmt":"2019-09-25T06:52:33","slug":"central-bank-of-india-personal-loan-interest-rates","status":"publish","type":"post","link":"https:\/\/www.antworksmoney.com\/blog\/central-bank-of-india-personal-loan-interest-rates\/","title":{"rendered":"Central Bank of India Personal Loan Interest Rates"},"content":{"rendered":"

Central Bank of India personal loan interest rates depends the borrower\u2019s on income, borrower\u2019s credit history, the RBI rates, inflation etc.\u00a0Central Bank of India personal loan interest rate<\/b>for the year 2015 varies from 13.15 percent to 14.4 percent. The interest rates is offered to a borrower in such a way that he is not burdened with the EMI payment.<\/p>\n

Central Bank of India Personal Loan Interest Rates 2018<\/h2>\n\n\n\n\n\n\n\n\n\n\n
Particulars<\/strong><\/td>\nSalaried<\/strong><\/td>\n<\/tr>\n
Interest rate<\/td>\nMCLR (12 months) + 3.00% =\u00a011.50% p.a.<\/strong><\/td>\n<\/tr>\n
Loan Amount<\/td>\n20 times the gross salary subject to maximum of Rs.10 lakh<\/td>\n<\/tr>\n
Loan Tenure<\/td>\nMaximum: 48 Months<\/td>\n<\/tr>\n
Lowest EMI<\/td>\n–<\/td>\n<\/tr>\n
Processing Fee<\/td>\nRs.500.00 + GST<\/td>\n<\/tr>\n
Age<\/td>\n–<\/td>\n<\/tr>\n
Prepayment\/Foreclosure Charges<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

How to calculate interest or EMI on Central Bank of India Personal Loan?<\/h2>\n

EMI or Equated Monthly Instalment is the amount that the borrower has to pay each month to the bank until the loan amount is fully paid off. The EMI amount consists of interest as well as the principal amount that is to be repaid. The principal amount and interest is divided by the tenure in which the loan has to be repaid. The formula to calculate the EMI is:<\/p>\n

EMI= Principal X Rate of interest on a monthly basis X (1+rate of interest on a monthly basis) to the power of the loan tenure divided by [(1+rate of interest on a monthly basis) to the power of the loan tenure \u2013 1]<\/p>\n

Factors affecting Central Bank of India Personal Loan interest rates<\/h2>\n
<\/div>\n

Central Bank of India personal loan interest rate<\/u>\u00a0varies for every applicant due to various factors. Some major factors affecting the interest rates are as follows:<\/p>\n