Central Bank of India Business Loan Features

Interest Rate

7.35% onwards

Processing Fee

Nil up to Rs.50,000 and 0.5% of the loan amount for above



The prepayment charges vary from case to case


Up to 120 Months

  • Eligibility Factors
  • Documents Required
  • Loan Verification Process
  • Rate of Interest
Central Bank of India Business Loan
  • The company should have a minimum annual revenue of Rs. 40 lakhs.
  • A minimum annual income (ITR) of Rs. 1.5 lakhs is necessary for the company.
  • Those that have made a profit in their business for the previous two years
  • Self-employed persons, proprietors, private limited liability, and
    partnership firms engaged in the manufacturing, trading, or service
  • Individuals with a minimum of 3 years in the existing business and a total
    of 5 years in the business.
  • The borrower must be at least 21 years old at the time of loan application
    and no more than 65 years old at the time of loan maturity.


Self-employed candidates are required to submit the documents listed below along with the ones mentioned above:

  • Proof of business establishment
  • Address proof of Business
  • Proof of Business continuity of the past 3 years
  • Latest ITR, along with computation of income
  • Balance Sheet and Profit & Loss account for the previous 2 years, after being CA Certified/Audited
  • Copy of bank statement of the past 180 days
  • Proof of earnings of the last 6 months

Identity Proof

● Driving License

● Aadhar Card

● Valid Passport

● PAN Card

● Voter ID


Proof of Residential Address

● Utility Bill

● Approved Building Plan

● Valid Passport

● Voter ID

● Registered Rent Agreement

Birth Date Proof

● Driving License

● Valid Passport

● Voter ID

● Aadhar Card

The loan verification proceeds in the following stages:

1. Fill the Central Bank of India business loan application form and upload it on the official website or wherever required. Submit copies of all the relevant documents required for application verification. It can be quickly done by signing up on apnapaisa.com.

2. One of our customer care representatives will get back to you within 24 hours and schedule visits for collecting document copies (in case you chose offline submission of documents).

3. The concerned officials at the Central Bank of India verify the documents and the details there. They may visit the property if necessary.

4. Once your application for a personal loan is approved, the loan amount will be disbursed to your account, and you will get a copy of the duly signed loan agreement containing details of loan interest, tenure, loan amount, charges, and penalties.

Central Bank of India provides affordable and convenient personal loans with EMIs as low as Rs. 1,788 per lakh for a 60-month term and a rate of interest as low as 7.35%. The interest rate is fixed and charged every month. It is calculated on the amount overdue, i.e., the amount to be repaid after the EMI and interest are paid.

Further, the Central Bank of India proposes the following business loan schemes:

Loan Scheme


Loan Amount


Processing Fee

CENT- Business Gold Loan

Existing, as well as New Customers, Proprietorship, and Partnership firm can apply.

Minimum: 10,000

Maximum: 20,00,000

12- 36 Months

Up to 5 lacs - Nil

Above 5 lacs to 20 lacs - Rs. 250 per lac

CENT - Contractor

Civil Contractors/Construction Contractors

Based on cash flow forecasts for the full repayment period.

Term Loan - 5 years

CC/ OD - 1 year

1% of the loan amount and maximum up to Rs. 2,00,000

CENT - Doctor

Individuals/ Partnership/ Companies/ Trusts

Applicants/Promoters should have a recognized medical science degree, such as an MBBS, BAMS, BDS, or BHMS.

Minimum - 1,00,000

Maximum - 5,00,00,000

Not Specified

Not Specified

CENT - Trade

All types of Traders including Retailers / Distributors / Commission Agents

Maximum - 5,00,000

Not Specified

Up to Rs. 20,000

CENT - Professionals

Professionals: Registered Medical Practitioners, Chartered Accountants, Company Secretaries, Consultant Engineers and Architects, Minimum age 25 and maximum up to 65 years

The applicant should be an Income tax assessed

For Individual: Minimum Limit is Rs. 1Lakh & Maximum Limit is Rs. 1 crore

For Firm / Corporate / Companies: Minimum Limit is Rs. 1Lakh & Maximum Limit is Rs. 5 crore

Term Loan- 10 years

Working Capital- 1 year

Up to Rs. 5 lakh- Nil

Above Rs. 5 lakh - 0.75% of the loan amount with a minimum of Rs. 5,000