Interest Rate & Loan Details

• Interest Rate: Starts at 7.00% p.a. (subject to change as per Central Bank policy)
• Loan Amount:
  • Minimum: ₹10,000
  • Maximum: ₹20 lakh
• Loan Tenure: Up to 24 months (with flexible repayment options)
• Processing Fee: 0.50% of the loan amount or as per bank guidelines
• Pre-closure Charges: Nil or as per Central Bank norms
• Loan-to-Value (LTV) Ratio: Up to 75% of the pledged gold’s market value

Purpose of Gold Loan

Central Bank of India offers gold loans to help meet a range of financial needs, including:

• Personal expenses
• Medical emergencies
• Educational costs
• Business investments
• Agricultural purposes

Eligibility Criteria

To qualify for a Central Bank Gold Loan, you need to meet the following criteria:

• Age: Minimum 18 years
• Gold Ownership: Must own gold jewelry or coins (not embedded with gemstones) to pledge as collateral
• KYC Compliance: Valid identity and address proofs
• Landholding Documents: Required for agricultural loans exceeding ₹1 lakh

Documents Required

Applicants must submit the following documents:

• Application Form: Duly filled and signed
• Identity Proof (Any one): Aadhaar Card, PAN Card, Passport, Voter ID, or Driving License
• Address Proof (Any one): Aadhaar Card, Utility Bills, Ration Card, or Lease Agreement
• Photographs: Two passport-size photos
• Landholding Documents: For agricultural loans over ₹1 lakh

Loan Amount & Security

• Minimum Loan Amount: ₹10,000
• Maximum Loan Amount: ₹20 lakh
• Loan Security: Pledged gold jewelry or coins (excluding those embedded with gemstones)

Repayment Options

• EMI-Based Repayment: Pay fixed monthly installments until the loan is repaid.
• Bullet Payment: Pay interest periodically and the principal at the end of the loan term.

Charges & Fees

• Processing Fee: 0.50% of the loan amount
• Gold Valuation Fee: Applicable as per bank and third-party valuation norms
• Prepayment Penalty: As per Central Bank policy
• Late Payment Penalty: Applicable for delayed EMI or interest payments

Key Considerations Before Applying

• Gold Quality: Gold with 18 to 22-carat purity is accepted.
• Loan Terms: Carefully read and understand the loan agreement before signing.
• Gold Security: Non-repayment may lead to the sale of your pledged gold.

Benefits of Central Bank Gold Loan

• Quick Disbursal: Get the loan amount in your account within a few hours.
• Competitive Interest Rates: Starting from 7.00% p.a.
• High LTV Ratio: Avail up to 75% of the pledged gold’s market value.
• Flexible Repayment: Choose from EMI or bullet repayment options.
• No Guarantor Required: Your gold is the collateral.

Contact Central Bank of India

• Head Office Address:
  Central Bank of India,
  Chander Mukhi, Nariman Point,
  Mumbai – 400021
• Customer Care Number: 1800 22 1911
• Email: customercare@centralbank.co.in
• Official Website: www.centralbankofindia.co.in

Disclaimer: The above information is subject to change. For the latest updates, please refer to the official Central Bank of India website or contact your nearest branch.