Central Bank’s Cent Home Double Plus Scheme
Central Bank of India introduced two new schemes last week. These are Cent Home Double Plus Scheme and Cent Aspire Deposit Scheme. Both schemes are intended to attract their customers by providing extra services.
Cent Home Double Plus Scheme is a customer-friendly home loan scheme. Under this scheme, the borrowers can deposit additional amount to their home loan EMIs and withdraw according to their requirement later. They can prepay the home loan without any penalty. Thus, the borrowers can save interest on their home loans.
Another notable feature of this scheme is that the availability of overdraft facility in home loans. Using this facility, the borrowers can avail loans at competitive interest rates for repair or renovation of their houses, buying consumer durables, furniture and solar energy equipment, vehicle loan for two or four wheelers, education or marriage expenses of children and medical expenses.
Cent Aspire Deposit Scheme helps to enjoy the liquidity of their Time Deposits even though they continue to earn interest. Customers can obtain premium credit card without their income proof or credit history. The free credit period available with this is up to 55 days. Interest rate is 1.20% per month on dues of card which equals to nearly half of the general industry interest rates. There is no issuance or annual fee on this card.