Personal Loan Scheme to Employees of Maharatna / Navratna / Major PSUs – “CENT RATNA” Scheme.
 List of Maharatna Navaratna Mini Ratna CPSEs
1 Purpose
To meet any Personal / Domestic expenses but not for speculative purpose.

2 Eligibility
Permanent employees of any Maharatna/Navratna/Major PSUs.

3 Loan Amount
20 times of Gross Salary.
Maximum Rs. 6,00,000/- per employee.

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4 Guarantee
Personal guarantee of one co-employee of worth at least equal to loan amount.

5 Repayment
Maximum 60 equated monthly installments commencing from one month after the month of disbursement.

6 Interest Rate
Base Rate + 4.00%. However, interest concession of 50 basis points shall be provided to the borrower maintaining and operating Salary Account with the Bank's Branch.

7 Processing Fee
Rs.1000/- plus applicable service tax. This is to be inclusive of CCPC charge.

8 Additional Facilities
i) Issuance of ATM cum Debit card
ii) Internet banking
iii) SMS Alert facility
iv) 5 Drafts free up to total amount of Rs.1,00,000 in a month.

9 Other Terms & Conditions
i. Net take home pay after taking into account the proposed loan installment should not be less than 40% of the gross salary.
ii. Maintaining of salary account is not compulsory.
iii. Borrower to open saving account with minimum balance of Rs.10,000/- and the account should be operative during the tenure of the loan.
iv. Copy of borrower's mandate to be sent to the employer for salary deduction of EMI and remittance to the Bank be lodged with the Branch wherever feasible.
v. ECS Mandate to be obtained from the prospective borrowers and registered with the Banker where the salary of borrower is credited and acknowledged copy to be held on records or monthly Post dated cheques of salary account should be obtained.

Contact Us
Corporate Office :
Central Bank of India
Chander Mukhi, Nariman Point
Mumbai – 400 021