OREANDA-NEWS. September 6, 2012. Central Bank of India has reduced interest rates on Home Loans, vehicle loans and other retail advances such as Personal Loans to Corporate, Non Corporate, Pensioners, and Gold Loans etc by up to 2% with effect from 1st September, 2012 as a part of Festival Bonanza. The Bank has also waived processing charges on the above Retail Lending Advances during the ensuing Festival Season. The reduced interest rates on Home Loans are also extended to the existing borrowers and revised interest rates on Vehicle Loans will be applicable for all tenures maximum upto 84 months.