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Central Bank of India offers multiple FD schemes with attractive interest rates so that customers can get maximum returns by parking their surplus savings. The customer is required to deposit the amount once at the time of opening the account. The Central Bank of India FD rates depends on what tenure you choose.

Central Bank of India FD Rates 2020

TenureRegular FD RatesSenior Citizen FD Rates
7 days – 14 days4.00%4.50%
15 days – 30 days4.00%4.50%
31 days – 45 days4.00%4.50%
46 days – 59 days4.25%4.75%
60 days – 90 days4.25%4.75%
91 days – 179 days4.90%5.40%
180 days – 270 days5.15%5.75%
271 days – 364 days5.15%5.75%
555 days5.70%6.20%
777 days5.70%6.20%
1 year – 1 year 364 days5.70%6.20%
2 years – 2 years 364 days5.70%6.20%
3 years – 4 years 364 days5.70%6.20%
5 years – 10 years5.70%6.20%

Central Bank of India – Special Features

The tenure ranges from 7 days to 10 years

Loan facility of up to 90% is available

Nomination facility is available

The minimum amount required to open an FD with Central Bank is Rs. 5000

Easy and fast liquidity options are available

All Central Bank FD schemes offer competitive interest rates

Senior citizens can avail 50% extra interest rates over the regular FD rates

Types of Central Bank of India FD Schemes

Cent Double Deposit Scheme

  • This deposit scheme offers the customers the benefit of doubling their deposits in a set period of time. This deposit enables the depositor to earn a higher rate of interest which makes the deposit double in your FD account.
  • Depositors who open this account receives money multiplier deposit certificate
  • It offers the flexibility to double your deposit amount
  • Attractive rate of interest offered
  • Loan facility up to 90% is available on the deposit

Cent 555 Term Deposit

  • A special term deposit by the Central bank of India under which The deposit made will be accepted for a tenure of exact 555 days
  • Interest is compounded quarterly on the deposit
  • TDS facility on the deposit is not available
  • Loan facility of up to 90% is available
  • Resident Indians and senior citizens above 60 years of age are eligible

Cent 777

  • A term deposit scheme by Central Bank of India which is opened for exactly 777 days
  • Interest is compounded quarterly on the deposit
  • TDS facility on the deposit is not available
  • Loan facility of up to 90% is available on the deposit

Cent Uttam

  • Under this flexible deposit scheme, you are allowed to withdraw a part of the deposit amount as and when required at your convenience.
  • The facility of TDS on the deposit is not available
  • Loan facility of up to 90% is available on the deposit
  • Auto-renewal facility is not available on this deposit

Central Bank of India Tax Saving Deposit

  • As the name suggests, a flexible and secured fixed deposit scheme by Central bank of India with dual benefits of tax exemption under section 80C and attractive returns.
  • TDS facility available on the deposit
  • Nomination facility is available
  • The Central bank of India FD rates is compounded on a quarterly basis
  • Auto-renewal facility is available

Cent Aspire Scheme

  • Under this scheme, depositors get a free credit card against the fixed deposit with the bank for a deposit amount of Rs. 20,000 and above.
  • Auto-renewal facility is available on the deposit
  • Nomination facility is available
  • A secured EMV chip-based platinum credit card is offered without any additional charges

Cent Suraksha Deposit

  • This is a special type of term deposit scheme specially designed for the weaker sections of society under Pradhan Mantri Suraksha Bima Yojana.
  • TDS facility available on the deposit
  • Nomination facility is available
  • Loan facility up to 90% is available on the deposit
  • Resident Indians above 60 years of age and above are eligible

Senior Citizen Deposit Scheme

  • As the name suggests, this scheme is specifically designed for senior citizens offering higher rates of interest as compared to accounts for other individuals.
  • Senior citizens can earn an Extra interest of 0.50% over regular rates
  • Nomination facility is available
  • Free passbook is issued to keep a track of all FDs booked under the scheme
  • Availability of auto sweep in facility
  • Interest payout frequency on the fixed deposit can be opted as per your convenience

Flexi Yield Deposit Scheme

  • A fixed deposit scheme by Central Bank of India with a floating rate of interest i.e. the interest rate is linked with the base rate and thus offers better yield than the standard rates.
  • A monthly interest deposit certificate is also issued with a deposit
  • Loan facility up to 90 % is available on the deposit

Central Bank of India FD Calculator

The fixed deposit calculator of any bank provides you an estimate of how much you will earn on fixed deposits. You can use the Central Bank of India FD Calculator which can be easily found online. It simply asks for details like type of fixed deposit, date, tenure and amount to be deposited.

Central Bank of India FD Premature Withdrawal

Central Bank of India charges a penalty of 1% interest rate on premature withdrawal of deposits more than Rs 5 lakhs. However, there is no penalty in case of account renewal for a longer term as compared to the initial deposit period.

Central Bank of India FD Rates Amidst Coronavirus

Due to the repo rate cut by RBI by 75 bps during coronavirus lockdown, the Central Bank of India may reduce the FD interest rates in the coming days. This can affect the interest of fixed depositors adversely.

Central Bank of India – FAQs

What is the minimum deposit required for the Central Bank of India FD?

The minimum deposit required to open an FD with the Central Bank of India is Rs. 5,000.

What is the highest interest rate provided by the Central Bank of India on FD?

The highest interest is 6.10% on the Central bank of India FD.

What is the tenure range from the Central Bank of India FD account?

The tenure for Central Bank of India FD ranges from 7 days to 10 years.

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