| Central Bank of India Car Loan |
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| Introduction |
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Central Bank of India offers loan for vehicle under CENT Vehicle scheme. The bank extends loan for purchasing two wheeler (Scooters, Mopeds, Motor Bikes) and four Wheeler (Car, Jeep, Utility Vehicle) solely for the purpose of personal use.
Bank also offer finance for used vehicles that are not older than 3 years and have expected residual life of minimum 10 years. |
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| Highlights |
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New Car |
Used Car |
| Loan Type |
Term Loan |
Term Loan |
| Ex-Showroom/On Road |
On Road |
On Road |
| Loan Amount |
For Indian made vehicles the maximum loan amount is Rs.20.00 lakh.
For Imported Vehicles the maximum loan amount is Rs.40.00 lakh.
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Maximum allowable loan amount is Rs 10 lakhs.
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| Tenure |
Min. - 36 months.
Max. - 84 months.
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Min. - 12 months.
Max. - 60 months.
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| Interest Rate |
10.65 % |
11.75 % |
| Time to Process Loan |
7 days |
7 days |
| Preferred Manufacturers |
Chevrolet, FIAT, Ford, GENERAL MOTORS INDIA, HINDUSTAN MOTORS, Honda, Hyundai, Mahindra, Maruti, Mercedes-Benz, Mitsubishi, Nissan, Reva, SAN Engineering, Skoda, Tata Motors, Toyota |
Chevrolet, FIAT, Ford, GENERAL MOTORS INDIA, HINDUSTAN MOTORS, Honda, Hyundai, Mahindra, Maruti, Mercedes-Benz, Mitsubishi, Nissan, Reva, SAN Engineering, Skoda, Tata Motors, Toyota |
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 Fees & charges
Fees & charges
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New Car |
Used Car |
| Stamp Duty |
As Per Actuals |
As Per Actuals |
| Legal, Repossession and Incidental Charges |
As Per Actuals |
As Per Actuals |
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| Comment on Charges |
Margin: Upto Rs.20 lakh is 10%
More than Rs.20lakh is 20%
Processing charges : Rs 2000 |
Margin- 25%
Processing charges: Rs 2000 |
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