6.75%
Interest for 3 years
Tenure | Normal Citizen FD Rate | Senior Citizen FD Rate |
---|---|---|
7 days - 14 days | 3.5% | 4% |
15 days - 1 month 14 days | 3.75% | 4.25% |
1 month 15 days - 1 month 28 days | 4.5% | 5% |
1 month 29 days - 3 months | 4.75% | 5.25% |
3 months 1 day - 5 months 28 days | 5.5% | 6% |
5 months 29 days - 11 months 29 days | 6.25% | 6.75% |
1 year - 1 year 2 months 16 days | 6.85% | 7.35% |
1 year 2 months 17 days - 1 year 2 months 17 days | 7.45% | 7.95% |
1 year 2 months 18 days - 1 year 6 months 7 days | 6.85% | 7.35% |
1 year 6 months 8 days - 1 year 6 months 8 days | 7.25% | 7.75% |
1 year 6 months 9 days - 1 year 11 months 29 days | 6.85% | 7.35% |
2 years - 2 years 8 months 25 days | 7% | 7.5% |
2 years 8 months 26 days - 2 years 8 months 26 days | 6.5% | 7% |
2 years 8 months 27 days - 2 years 11 months 29 days | 7% | 7.5% |
3 years - 4 years 11 months 28 days | 6.75% | 7.25% |
4 years 11 months 29 days - 9 years 11 months 28 days | 6.5% | 7% |
Note: All interest rates shown above are as on 7th Oct 2024
Established in 1911, Central Bank of India was the first Indian commercial bank which was wholly owned and managed by Indians. It has a balance sheet size of Rs. 3,57,337 Cr as on 31st March 2020. It recorded a loss of Rs 1127 cr in FY20
3.5% - 7.45%
FD Rate
4% - 7.95%
FD Rate for Seniors
₹ 100
Minimum Deposit
₹ 2 Crores
Maximum Deposit
-
Lock-in
-
FD Tenure
-
Loan against FD
CRISIL Rating
Investment Amount | For 3 years with interest of 6.75% | For 5 years with interest of 6.5% |
---|---|---|
₹ 50,000 | ₹ 61,188 | ₹ 69,141 |
₹ 1 lakh | ₹ 1,22,377 | ₹ 1,38,282 |
₹ 2 lakh | ₹ 2,44,753 | ₹ 2,76,563 |
₹ 5 lakh | ₹ 6,11,883 | ₹ 6,91,409 |
₹ 10 lakh | ₹ 12,23,766 | ₹ 13,82,817 |
Use FD calculator to change values and compare your returns from top banks.
Maturity Amount | ₹ 1,07,069 | ₹ 1,09,381 |
Total Investment Amount | ₹ 1,00,000 | ₹ 1,00,000 |
Total Interest Gained | ₹7,069 | ₹ 9,381 |
Bank Name | FD Interest Rates |
---|---|
North East Small Finance Bank FD | 9% - 9.5% |
Dakshin Bihar Gramin Bank FD | 7% - 7% |
IDFC First Bank FD | 7% - 7.5% |
RBL Bank FD | 7.5% - 8% |
Suryoday Small Finance Bank FD | 8.6% - 9.1% |
Utkal Grameen Bank FD | 6.8% - 7.3% |
Post Office FD | 7.1% - 7.1% |
PNB HFL FD | 7.75% - 8.05% |
Saptagiri Grameena Bank FD | 7.5% - 8% |
Indian Bank FD | 6.25% - 6.75% |
₹1,00,000
Total Investment
7,069
Wealth Gained
₹1,07,069
Maturity Amount
The flexible & tax efficient alternative to FDs.
Central Bank of India was the first Indian commercial bank wholly owned and managed by Indians in 1911. The bank launched several innovative banking activities during the past century and has introduced a variety of fixed deposit schemes for its investors. In this article, we have explained in detail about the Central Bank of India’s FD schemes and their interest rates.
Check out the latest fd rates.
Fixed Deposit receipt is a short term deposit that enables depositors to earn more interest. The depositors have the choice to choose the tenure of the deposit in the number of days.
The scheme aims to multiply the deposits. The interest accumulated is added to the principal. The scheme helps to increase the deposits exponentially.
The scheme offers double benefits of high returns and easy liquidity. Furthermore, it is a flexible scheme that allows partial withdrawals of the deposit amount.
The scheme helps depositors earn monthly interest without depleting the principal amount.
The scheme provides depositors quarterly interest by keeping the principal amount intact.
The deposit scheme provides an option of choosing the interest payment frequency. Depositors can choose between monthly, quarterly, half-yearly intervals or cumulative type.
The deposits under this scheme are accepted in three variants: MMDC, MIDR and QIDR.
When a gift cheque or demand draft (DD) is received, the account holder or giftee will deposit the amount in their savings account for two years, either for Rs 201 or Rs 5,001. After the second year, CENT SURAKSHA DEPOSIT (PMSBY) or CENT SURAKSHA DEPOSIT YOJNA (PMSBY/PMJJBY) would receive Rs 177 in the case of a gift cheque/DD denominated Rs 201 and Rs 4,317 in the case of a gift cheque/DD denominated Rs 5,001. Senior persons, employees, ex-employees, and family members are all eligible for higher interest rates.
The Central Flexi Yield Deposit Scheme offers a higher floating rate of interest in comparison to other Central Bank FD schemes. The deposit amount is Rs 50,000. You can deposit for a term of 1 year to 10 years. A premature withdrawal available.
From 13.04.2021, a new Term Deposit Scheme called “Immune India Deposit Scheme” was launched. Any existing customer who has received at least one dose of COVID-19 vaccine and can show proof of vaccination will be eligible to participate in the scheme.
The Cent Super Callable Time Deposit for 444 Days will be accepted only for a fixed period of 444 days. The scheme doesnt accept any other deposits for varying tenures.
The Cent Super Callable Time Deposit for 444 Days will be accepted only for a fixed period of 444 days. The scheme doesnt accept any other deposits for varying tenures.
The deposits under this scheme are accepted in three variants: FDR, MMDC, MIDR and QIDR.
Cent Green fixed deposit scheme is for a specific tenure. The deposit amount will be used for lending to renewable energy projects, green building projects and projects in smart Agriculture, water or waste management projects etc.
Central Bank of India fixed deposit schemes offer better returns than their savings bank account. Following are the key features of Central Bank of India fixed deposits:
Investment in Cent Tax Saving Deposit qualifies for tax deduction under Section 80C of the Income Tax Act, 1961. While filing income tax returns, investors can claim the same. All other Central Bank FDs do not qualify for a tax deduction.
The interest that one earns on their Central Bank of India FD investments is taxable. The tax rate depends on the investor’s income tax slab rates. Furthermore, the Central Bank deducts a TDS of 10% (20% if PAN Card isn’t submitted) in case the interest income exceeds INR 40,0000 (INR 50,000 for senior citizens).
One can determine whether their interest income is above or below the TDS threshold limit using the Central Bank of India FD Calculator. Also, they can estimate their tax liability using the Income Tax Calculator. Scripbox’s Income Tax Calculator is available online, is free to use, and it determines tax liability of an investor.
To open an FD account in the Central Bank of India, one has to be eligible. Following are the list of persons eligible to invest:
Investors would need the following documents to open a fixed deposit account in Central Bank
Calculate FD Maturity Amount with Scripbox: FD calculator.
What is the highest Central Bank of India FD rate today?
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What is Central Bank of India FD scheme interest rate for 5 years?
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What is senior citizen fixed deposit interest rates in Central Bank of India?
What are the available FD tenures in Central Bank of India?
What is Central Bank of India FD ROI for 10 lakh deposit for 1 year?
The interest from the Central Bank of India FD calculator for 10 lakh deposit for 1 year will be INR 70,692. The maturity value will be INR 10,70,692. You can use Scripbox’s FD Calculator to determine the maturity value of your investment.
How to check the fixed deposit balance in Central Bank of India?
How many FDs can be opened in Central Bank of India?