|Tenure||Normal Citizen FD Rate||Senior Citizen FD Rate|
|7 days - 14 days||3%||3.5%|
|15 days - 1 month 17 days||3.25%||3.75%|
|1 month 18 days - 3 months 1 day||4.25%||4.75%|
|3 months 2 days - 5 months 29 days||4.5%||5%|
|5 months 30 days - 11 months 30 days||5.5%||6%|
|1 year - 1 year 2 months 18 days||6.75%||7.25%|
|1 year 2 months 19 days - 1 year 2 months 19 days||7.35%||7.85%|
|1 year 2 months 21 days - 1 year 6 months 7 days||6.75%||7.25%|
|1 year 6 months 8 days - 1 year 6 months 8 days||7%||7.5%|
|1 year 6 months 9 days - 1 year 11 months 29 days||6.75%||7.25%|
|1 year 11 months 30 days - 2 years 8 months 25 days||6.5%||7%|
|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||6.5%||7%|
|2 years 11 months 30 days - 9 years 11 months 28 days||6%||6.5%|
Note: All interest rates shown below are as on 9th Jan 2023
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% - 7.35%
3.5% - 7.85%
FD Rate for Seniors
₹ 2 Crores
Loan against FD
|Investment Amount||For 3 years with interest of 6%||For 5 years with interest of 6%|
|₹ 50,000||₹ 59,834||₹ 67,443|
|₹ 1 lakh||₹ 119,668||₹ 134,885|
|₹ 2 lakh||₹ 239,336||₹ 269,770|
|₹ 5 lakh||₹ 598,340||₹ 674,425|
|₹ 10 lakh||₹ 1,196,681||₹ 1,348,850|
Use FD calculator to change values and compare your returns from top banks.
|Maturity Amount||₹ 106,963||₹ 108,139|
|Total Investment Amount||₹ 100,000||₹ 100,000|
|Total Interest Gained||₹6,963||₹ 8,139|
|Bank Name||FD Interest Rates|
|Jana Small Finance Bank FD||7.85% - 8.8%|
|CSB Bank FD||5.75% - 6.25%|
|Axis Bank FD||7% - 7.75%|
|Deutsche Bank FD||7% - 7%|
|Ujjivan Small Finance Bank FD||7.2% - 7.95%|
|Indian Bank FD||6.25% - 6.75%|
|Federal Bank FD||6.5% - 7%|
|Chaitanya Godavari Grameena Bank FD||6.25% - 6.75%|
|Ellaquai Dehati Bank FD||5.3% - 5.55%|
|Paschim Banga Gramin Bank FD||5.2% - 5.7%|
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.
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.
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.
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 helps depositors earn monthly interest without depleting the principal amount.
The scheme provides depositors quarterly interest by keeping the principal amount intact.
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.
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.
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