#1
| |||
| |||
Central Bank of India Overdraft Facility |
#3
| |||
| |||
Re: central bank of india overdraft facility
Corporate Mortgage Loan offered by Central Bank of India is for any sort of Personal or Business needs, but not for any speculative purpose, real estate or capital market activity. Eligibility • Loan against mortgage of immovable property located in Metro / Urban / Semi Urban/Rural Centres only those rural centres where title deeds can be mortgaged for other than Agricultural purpose. • Individuals (age 21 years to 65 years) and Business Concerns (Corporate or non-corporate). Maximum 60 years for salaried class. The Minimum Gross Annual Income for Individual borrowers is Rs. 2, 00, 000/- Nature of Facility Term Loan and Overdraft facility are available in it. The Overdraft facility will be for one year and to be reviewed annually. Rate of Interest MCLR + 3.50 % irrespective of TL/OD/Tenor Processing Charges • For term loans and overdraft, 0.50 % of Loan Amount subject to maximum of Rs.40,000/- and Rs.20,000/- respectively at the time of sanction. • For OD, renewal charges to be levied @ 0.50%, maximum Rs.5000/- per annum. Prepayment Charges: • Nil, in case prepaid from borrower's own sources. • If the loan a/c is taken over by other Bank/FI, prepayment charges to be levied @ 1% of loan outstanding as on the date of such take over. Repayment: Loan is to be repaid in maximum 120 Equated Monthly Instalments (EMIs), start from next month of payment. Repayment of EMIs through ECS mandate/ Post-dated cheques Corporate Mortgage Loan offered by CBI |
|