Central Bank of India is really trying hard to be in the race of Smart Banks. Which is actually very much required to be in the existence. After option to open FDs and Rds online, now CBI is giving you an option to apply for loans online, that too from your own net banking account, not the website. Here are the steps to Apply for Home Loan Online in Central bank of India.
Recommended Read : How to Apply for Personal Loan Online?
How to Apply for Home Loan Online in Central Bank of India?
- Login to your CBI net banking account. Select “Requests” from top navigation menu. Then, from drop down menu, select “Deposit and Loan Modelling”. And, from next drop down menu,select “Loan Modelling”.
- On next screen, you would get to choose from a number of loan products. Choose the one which suits you.
- Enter the loan amount you want to apply for.
- Then, enter the loan tenure. The time period for which you want to avail this loan. Important point is that the Loan tenure varies with loan products.
- And, select the loan repayment commencement date. If you want moratorium period, so select the repayment date accordingly. important point is that the moratorium is applicable only for Home Loan and Education Loan.
- Finally Submit your application.
- On successful submission, application would be reviewed by bank officials. And, you would receive a call from you.
- Remember, before applying for any loan, it’s advisable to check your loan eligibility, whether you could apply for that loan or not.
Eligibility to avail Home Loan from CBI:
- Individuals , Groups of individuals , who have attained 18 years ( completed) as on date of application and including Cooperative Societies , having a legal, identified and regular source of income either singly or jointly with Parents, sons, spouse.
- NRI are also eligible for Housing loan,
How much loan you could apply for?
Bank will evaluate the quantum of Loan on the basis of your repayment capacity; and, the value of property.
For paying your debt back you get:
- Maximum period of 30 years or on borrower reaching the age of 70 years whichever is earlier.
- 10 years in case of Repair/Renovation
Now, you are good to go. Check your eligibility and available repayment period and, then, apply for Home Loan online in CBI. Not only, home loan, but you could apply from a number of other loans from the above mentioned list.