Central Bank of India EV Loan (2W + 4W)
Central Bank of India, a bank headquartered in Mumbai and established in 1911, offers an EV loan at a floating interest rate. The bank states a tier-dependent rate structure: 7.60% to 9.25% for four-wheelers, 10.25% to 11.35% for two-wheelers under the standard scheme, and 8.85% to 9.40% for two-wheelers under a female-borrower concession.
The processing fee is 0.50%+GST, with a minimum of ₹2,000+GST and a maximum of ₹20,000+GST, waived till 31.12.2026. Loan amounts go up to ₹1 crore, with tenures up to 96 months. The vehicle is hypothecated on the VAHAN portal, and documentation charges are NIL. Minimum loan amount, minimum tenure, prepayment penalty, minimum CIBIL score, age limits, minimum salary, employment type eligibility, and documentation requirements are not published for this product.
Eligibility
Loan terms
- Tier-dependent rate — 4-wheeler 7.60-9.25%, 2-wheeler standard 10.25-11.35%, 2-wheeler female-borrower concession 8.85-9.40%
- Processing fee 0.50%+GST, min ₹2,000+GST max ₹20,000+GST (waived till 31.12.2026)
- vehicle hypothecation on VAHAN portal
- documentation charges NIL
Documents
- PAN and Aadhaar
- Income proof (salary slips or ITR)
- Bank statement
- Documents for the pledged asset
Fees & charges
FAQ
Every row is date-stamped with the day we last checked it, and links to the lender’s published material so you can confirm it yourself. A row we confirmed against the source reads “Verified”; one we could only sight reads “as of”, and is not presented as confirmed. Anything we have not re-checked in 60 days is marked “rate under review” rather than left to look current. We do not claim a fixed re-checking cycle — the date on each row is the honest answer.
No. Viewing rates is not a credit enquiry and has no score impact. A hard enquiry happens only when you formally apply to a lender.