Central Bank Of India Business Loan Interest Rate at 7.80% to 12.40%

Note: Updated on 10 Feb 2023, for latest interest rates, please visit bank website.

About Central Bank Of India

Central Bank Of India is a public sector bank in india established on Dec. 21, 1911. It has headquarter in Mumbai and address is Head Office, Chandramukhi, Nariman Point,Mumbai-400 021.. It has 4695 branches across the state 4835 and ATMs across India.

It provides all the financial services to its customers like saving deposit, fixed deposit, recurring deposit, loans, personal loans, netbanking, RTGS, NEFT, IMPS, Atal Pension Yojana, Pradhan Mantri Jandhan Yojana, Pradhan Mantri Suraksha Bima Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana and many more.

Central Bank Of India Business Loan Interest Rates, Business Loan at 7.80% to 12.40% Updated on 30 Sep 2025. Apply for Business Loans Online. Find purpos, Eligibility, Margin, Repayment of Business Loan ,Security, Documents Required for Business Loan below.

Other Products of Central Bank Of India:

Central Bank Of India Business Loan Purpose

CENT - TRADE is normally provided as Overdraft. However, on request of the borrower, Term Loan can be considered depending upon repaying capacity and cash flow of the borrower..

Central Bank Of India Business Loan Eligibility

All types of Traders including Retailers / Distributors / Commission Agents / Arthiyas/Dealers of major companies etc.

Central Bank Of India Business Loan Document Required

1. Completely Filled Business Loan Application Form
2. PAN Card - For Individual / Partnership Firm / Company
3. Identity Proof - Any one (e.g. Voter ID / Driving License / Passport / Aadhar Card)
4. Address Proof - Any one (e.g. Voter ID / Driving License / Passport / Telephone Bill / Electricity Bill / Registered Lease Deed or Sale Agreement / Bank Statement)
5. Ownership proof of either residence or office either in the name of applicant or jointly with family members
6. Business Continuity Proof - Any one document dated 5 years old (Bank Statement / Sales Tax Challans / IT Returns / Shops & Est. Certificate / Certificate of Incorporation / Partnership Deed)
7. Proof of Vintage eg. Shops & Establishment certificate/VAT/Sales Tax Registration Certificate, etc
8. KYC documents of Applicant/ Co-Applicant/ Promoters/ Guarantor
9. Passport Size Photographs of all applicants and co-applicants
10. Financial Projection for 2 years
11. Last 3 year Financial Statement including latest 2 years Audited Statements along with all schedules
12. Bank statements from the borrower's main account/s for last 6 months and 3 months of all other bank accounts mentioned in the Balance Sheet
13. Any other document as required by the bank based on the status of the applicant.

Central Bank Of India Business Loan Amount

Maximum Rs.500.00 lakhs per borrower

Central Bank Of India Business Loan Margin

margins

Central Bank Of India Business Loan Repayment

12 to 60 months. Repayment on the basis of equated monthly installment(EMI).

Central Bank Of India Business Loan Security

1. Equitable Mortgage (under sole charge to the Bank) of residential house / flat, commercial or industrial property, non-agricultural boundarised & well demarcated plot in the name and possession of the borrower.
2. For loan up to Rs.20.00 lakh the market value of the property should be at least 150 % of loan amount and Realisable Value should be minimum 120% of the loan amount.
3. For loan above Rs.20.00 lakh, the market value of the property should be at least 200% of the limit and Realisable Value should be minimum 150%.

Central Bank Of India Business Loan Particular

Mode of Assessment

Limit to be assessed as per Turnover Method, i.e. 20% of projected annual sales. The overdraft limit shall be for a period of 12 months and renewed / reviewed annually.
Insurance

The property will be insured against fire, riots wherever required and also against other appropriate hazards, such as earthquake, flood, lightning etc with bank's clause for full value of the property.
Insurance of Stock /Stock in Trade is optional.

How to Manage your Business Loan Properly?

1. Follow a financially disciplined attitude. You also need to manage your income and expenses well.
2. Switch to loan having Lower Rate of Interest. Always be watchful about what rate of interest other lenders are charging. If you find considerable difference in the interest charge, you must think of switching you existing loan to the lender who is offering the loan at lower interest rate.
3. Pay Higher EMI in case you are able to do so with ease and currently having no monetary issue. It will lower down you Business Loan amount and also lower your interest outgo.
4. Opt for Partial Pre-payment. Whenever you receive extra funds by any means, you must try to make partial pre-payment of loan. It will reduce your debt marginally.
5. Do not Avail Unnecessary Loan. If you can manage some small expenses out of the funds in your hand then you must not opt for any kind of loan.
6. Pay your EMIs on Time. Do not make any delay in payment of your loan EMI and never ever miss your EMI. Delay in payment may attract penalty or extra charges. Also it will impact your credit score negatively.
7. Make higher down payment. In that case, you will need lower loan which you can manager efficiently by repaying it on time and with ease.
8. Try to repay other small loans, if possible. It will reduce your debt burden and so as your interest cost.

Tax Benefits Available in Business Loan

Interest paid on a business loan is tax deductible expense which means interest paid is an expense for the business and is deducted from gross income. However, the principal amount is not tax deductible because repayment of principal means paying back the money borrowed, hence cannot be considered an expense.

As the tax is paid on the net income earned by a businessman in a financial year. So the interest can be subtracted from the gross income in order to compute the net income. After deducting the interest expenses from the gross income, net income is arrived at, on which the income tax is paid.

As after deduction of interest from the gross income of the business, the net taxable income, on which tax is to be paid, reduces and hence the businessman needs to pay less income tax.

Contact details of Central Bank Of India, Central Bank Of India SMS balance check number, Central Bank Of India SMS banking, Central Bank Of India mobile banking, Central Bank Of India toll free number,Central Bank Of India toll free number 24*7, Central Bank Of India miss call number.

• MISSED CALL NUMBERS - 9555244442
• CUSTOMER CARE NUMBERS - 1800221911, 18002021911
• CONTACT NUMBERS - 1800221911, 02241903900

Central Bank Of India Contact Details

• BANK OFFICIAL WEBSITE - https://www.centralbankofindia.co.in
• CONTACT NUMBERS - 1800221911, 02241903900
• EMAIL ID - [email protected]
• MISSED CALL NO. - 9555244442
• CUSTOMER CARE NO. - 1800221911, 18002021911
• TOTAL BRANCHES - 4695
• TOTAL ATMS - 4835
• HEADQUARTER - Mumbai
• BANK ADDRESS - Head Office, Chandramukhi, Nariman Point,Mumbai-400 021.

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