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If you wish to meet financial obligations of varied nature, be it for personal purposes, or to expand your business, you can opt for a Central Bank of India Personal Loan. Of the many forms of loans that the bank offers, some include the Central Bank Personal Loan, the Central Bank Personal Gold Loan, and the Central Bank Pensioners Loan– to cater to the varying needs of different borrowers. When you opt for a Central Bank of India Personal Loan, you can avail of a maximum of ₹10 Lakhs, for a tenure of up to 5 years. The interest rate on your loan will vary between 9.85% and 11.45% per annum. Read on to learn more about the Central Bank Personal Loan.

Central Bank Personal Loan Interest Rate

When you opt for a Central Bank of India Personal Loan, the rate of interest applicable varies from loan to loan. Listed succinctly below are the Central Bank of India Personal Loan interest rates applicable on various loans:

Loan Variant

Rate of Interest

Central Bank Personal Loan


Central Bank Pensioners


**Disclaimer: Interest rates are subject to market conditions and financial institutions’ discretion.

Central Bank Personal Loan Features & Benefits

To better understand the advantages of opting for a Central Bank of India Personal Loan, refer to the features and benefits listed below:



Rate of Interest

9.85% - 11.45%

Maximum Loan Amount

₹10 Lakhs

Loan Tenure

Up to 5 years

Process Fee Applicable


Central Bank Personal Loan Eligibility Criteria

Listed below is the eligibility criteria if you wish to apply for various forms of the Central Bank of India Personal Loan:

1. Central Bank Personal Loan Scheme

  • Full-time/Permanent Employees engaged with the Central or State Government, Railways, Schools, Hospitals, or Municipal Bodies – for at least one year, can apply.

  • Full-time/Permanent Employees engaged with Indian companies or MNCs for at least 3 years, can apply.


2. Central Bank Pensioners

  • Pensioners, or family pensioners who draw a salary from the Central Bank of India can apply.

Central Bank Personal Loan EMI Calculator

Before opting for a Central Bank of India Personal Loan, make sure to check the EMI Calculator to better understand how much the monthly EMI will work out to. You can access the EMI Calculator by visiting the Central Bank of India website, and under the ‘Tools and Calculators’ tab, click on the ‘Personal Loan EMI Calculator’ tab. 

Once you enter the requisite details pertaining to the loan amount, the rate of interest, and the tenure, your EMI calculation will be displayed shortly. By making use of the Personal Loan EMI Calculator, you can arrive at a more informed decision regarding your Personal Loan.

Calculate Personal Loan EMI

Before opting for a Personal Loan, it is essential for you to understand how much the Easy Monthly Instalments work out to, for more prudent financial planning. By making use of the EMI Calculator, your loan amount, the tenure opted for, and the rate of interest are utilised to calculate the EMI applicable. 

Let us assume that you have opted for a ₹50,000 loan from the Central Bank of India, for a period of 5 years at an interest rate of 10.15% per annum. The table below will showcase the EMI, total repayment amount, and the interest amount.

Amount of Loan

Rate of Interest


Monthly Instalment

Total Interest Amount

Total Amount

₹ 5,00,000



₹ 43,993

₹ 27,914

₹ 5,27,914

₹ 5,00,000



₹ 23,107

₹ 54,570

₹ 5,54,570

₹ 5,00,000



₹ 16,169

₹ 82,078

₹ 5,82,078

₹ 5,00,000



₹ 12,717

₹ 1,10,432

₹ 6,10,432

₹ 5,00,000



₹ 10,660

₹ 1,39,628

₹ 6,39,628

Additionally, listed below is the Principal Amount, Total Interest Outgo, and the Balance Amount:


Principal Amount

Interest Applicable

Balance Amount


₹ 80,868

₹ 47,057

₹ 4,19,131


₹ 89,470

₹ 38,456

₹ 3,29,660


₹ 98,985

₹ 28,940

₹ 2,30,675


₹ 1,09,513

₹ 18,412

₹ 1,21,161


₹ 1,21,250

₹ 6764

₹ 0

How is Central Bank Personal Loan EMI Calculated

When you opt for a Central Bank of India Personal Loan, the EMI is calculated by making use of the following formula:

E=P.R.(1+R) ^ N/((1+R) ^ (N-1)

Here, E stands for EMI, P stands for the principal loan amount, R stands for the rate of interest, and N stands for the monthly loan tenure.

How to Apply for a Central Bank Personal Loan

If you wish to apply for a Central Bank of India Personal Loan, follow the steps listed below:

  • Step 1: First, visit the official website of the Central Bank of India, and under the ‘Loan’ tab, click on the ‘Personal Loan’ section.

  • Step 2: After this, click on the ‘Apply Now’ tab to proceed. If you are an existing customer, log in using your credentials, and enter the OTP, you receive.

  • Step 3: If you happen to be a new customer, enter the required personal details such as your name, your email id, and your mobile number.

  • Step 4: After this, once you have completed creating your profile, proceed by submitting the application form and all the necessary documents, so as to proceed to apply for a Personal Loan.

  • Step 5: Once the bank reviews your documents and approves of the same, your loan will be disbursed.


If you wish to, you can also apply for a Central Bank of India Personal Loan offline, by visiting the nearest Central Bank of India branch and filling out the application form.

Documents Required for Central Bank Personal Loan

When applying for a Central Bank of India Personal Loan, along with the Central Bank of India loan application form, you must also furnish the following documents:

  • Identity Proof such as your Passport, Aadhaar Card, Voter ID Card, or Driving Licence

  • Proof of Address such as Electricity Bill, Telephone Bill, Aadhaar Card, Passport, Ration Card, Driving Licence, or Bank Account Statement

  • Proof of Income such as Salary Slips, ITR, Bank Account Statements, or Form 16.


The information and suggestions provided by BFDL hereinabove is related to the Non-Partnered Banks/ NBFCs and is just for the purpose of information and under no circumstances the information provided hereinabove is intended to be source of advice or recommending any financial advice or endorsement of any sort.

The information including interest rates or fees, loan amount and other charges with regard to any product, provided on this website is gathered through publicly available sources over the internet and is considered as accurate and reliable to the best of our knowledge. BFDL disclaims any responsibility or liability regarding inaccuracies, omissions, mistakes etc. as well as offers by the Non-Partnered Banks or NBFCs. The use of information set out is entirely at the User’s own risk and User should exercise due care prior taking of any decision, on the basis of information mentioned hereinabove. You are advised to visit/ contact the respective Banks/ NBFCs to verify the information before making any application or opening an account. Further, BFDL does not undertake any responsibility or liability to update this information. YOU ARE SOLELY RESPONSIBLE FOR ANY LIABILITY OR DAMAGE YOU INCUR THROUGH ACCESS TO OR USE OF THE SITE OR SUCH INFORMATION OR MATERIALS EXCEPT WHERE THE LAWS AND REGULATIONS OF A PARTICULAR JURISDICTION CONCERNING WARRANTIES CANNOT BE WAIVED. Additionally, display of any trademarks, tradenames, logo and other subject matters of intellectual property owners. Display of such Intellectual Property along with the related product information does not imply BFDL’s partnership with the owner of the Intellectual Property of such products.

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FAQs on Central Bank Personal Loan

What is the maximum Personal Loan amount that can be sanctioned by Central Bank?

The maximum Central Bank of India Personal Loan amount sanctioned by the bank is Rs. 10 Lakhs.

Is there an age limit to apply for Central Bank Personal Loan?

To apply for a Central Bank of India Personal Loan, you must be at least 21 years of age, and not more than 58 years of age.

How much time is taken for the Central Bank Personal Loan to be approved?

The bank tries its best to disburse the loan amount within 4 to 7 working days after the documents have been uploaded and verified.

How can I calculate Central Bank Personal Loan EMI?

You can calculate the Central Bank of India Personal Loan EMI by accessing the EMI Calculator available on the website.

How can I get in touch with Central Bank customer care?

You can get in touch with the Central Bank of India’s customer care at the toll-free number: 1800 22 1911.

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