Central Bank of India, a bank headquartered in Mumbai and established in 1911, offers a loan against property at a floating interest rate ranging from 8.65% to 12.25%, with a prepayment penalty of 1%. The processing fee is 0.50%, capped at ₹20,000 for a term loan or ₹10,000 for an overdraft (₹2,000 per renewal). Loan amounts range from ₹1 lakh to ₹10 crore, with a maximum tenure of 120 months.
The loan is available as either a Term Loan or an Overdraft subject to annual review. The bank requires the property value to equal 200% of the loan amount, mandatory property insurance covering fire, riot, earthquake, and flood, and personal guarantees from co-owners, partners, or directors; the loan is not available for real estate speculation or capital-market activity. Minimum tenure, minimum CIBIL score, age limits, minimum salary, employment type eligibility, and documentation requirements are not published for this product.
At 8.65%, Central Bank of India has one of the lowest starting rates of the 18 lenders we track for loans against property.
LAP is secured against property, so the rate is lower and the tenure longer than an unsecured personal loan — better when the need is large and long-term. The trade-off is a legal/valuation process and your property as collateral.
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.