CentralBank of India-Corporate
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Corporate Mortgage

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 centers where title deeds can be mortgaged for other than Agricultural purpose.
  • Individuals (age 21 years to 65 years) as well as 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 available. The Overdraft facility will be for one year and to be reviewed annually

Quantum of finance

Individual/ Jointly (Priority/ Non Priority)

  • For salaried persons, 36 times of gross monthly income of applicant and for other than salaried persons, 3 times of gross annual income as per latest IT returns.
  • Maximum Rs.50.00 lakh for property located in rural area and maximum Rs.200.00 lakh for property located in other areas.

For Companies, Proprietorship/ Partnership Firms, Societies

  • In case of Firms/ Companies, five times average annual cash accrual (PAT+Depreceiation) as audited Financial Statements of last three years.
  • Maximum Rs.50.00 lakh for property located in rural area and maximum Rs. 500.00 lakh for property located in other areas.

Security:

EM of non-encumbered residential house /flat, commercial or industrial property situated in metro/urban/ semi urban/rural centers only in the name and possession of the borrower either self-occupied or vacant or partially rented out/leased out. The value of property should be equal to 200% of the loan amount.

Guarantee

  • Personal guarantee of the joint /co-owner of the property (if any).
  • In case of mortgage loan to firm/company, personal guarantee of partners/ directors to be taken.

Rate of Interest

MCLR + 3.50 % irrespective of TL/OD/Tenor

Processing Charges

  • In case of 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.
  • In case of 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 installments (EMIs), commencing from next month of disbursement. Repayment of EMIs through ECS mandate/ Postdated cheques.

Documents:

  1. For Salaried/ Individuals
    • KYC documents like Identity proof and address proof, Original Salary Slips for two months and Post Dated Cheques
    • Letter of Hypothecation of vehicle and Articles of Agreement
    • Letter of undertaking from the borrower for Comprehensive Insurance of the vehicle with bank clause and Blank Transfer forms duly signed by the borrower
  2. For Companies, Proprietorship/ Partnership Firms, Societies
    • Audited Balance Sheet, Profit and Loss Account for latest two years and the latest IT returns
For further details please contact our nearest branch or call on the toll free no.1800 22 1911
Loan type Forms
Application Form 1 for Loan of Rs.5 Crore to Rs.15 Crore Download Word Document Format
Download PDF Format
Application Form 2 for Loan of Rs.15 Crore to Rs.40 Crore Download Word Document Format
Download PDF Format
Application Form 3 for Loan of Rs.40 Crore and above Download Word Document Format
Download PDF Format
Standardised Common Loan Application Form for Agriculture Credit Download PDF Document Form
Common Application Form (Required for all loan schemes). Download Word Document Format
Download PDF Format
Cent Buy Download Word Document Format
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Cent Computer Download Word Document Format
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Cent Liquid Download Word Document Format
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Cent Mortgage Download Word Document Format
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Cent Trade Download Word Document Format
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Cent Vyapari Download Word Document Format
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Housing Loan Application Download Word Document Format
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Cent Home Loan Plus Download Word Document Format
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Cent Suvidha Download Word Document Format
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Cent Vehicle Download Word Document Format
Download PDF Format
Cent Vidyarthi Download Word Document Format
Download PDF Format
Cent School Download Word Document Format
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Teacher's Loan Download Word Document Format
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Cent Rental Download Word Document Format
Download Word Document Format
Download PDF Format
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Cent Doctor Download Word Document Format
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Cent Swabhiman Download Word Document Format
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Personal Loan for Pensioners Download Word Document Format
Download PDF Format
Personal Loan to Employees of Corporate Sector Download Word Document Format
Download PDF Format
Personal Loan to Employees of Non-Corporate Sector Download Word Document Format
Download PDF Format
Loan to LIC Agents Download Word Document Format
Download PDF Format
Loan to MSEs Download PDF Format
Cent Sahyog (form for upto 10 lakhs) Download PDF Format
Cent Sahyog (form for above 10 lakhs) Download PDF Format
Application for Agricultural Loans Download PDF Format
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