Overview of Central Bank of India Fixed Deposit

1. Minimum deposit amount: Rs.100
2. Range of maturity: 7 days to 10 years
3. Interest calculated as Simple Interest
4. Half-yearly interest payout in March and September
5. Option for cumulative interest payment also available
6. Tax Deducted at Source (TDS) will be deducted from the interest income exceeding Rs.10,000 per annum
7. Facility for nomination available
   

1. If the FD returns are more than Rs.20,000, the amount is transferred to the savings account linked to your FD account or given as a Demand Deposit (DD).
2. If the returns are up to Rs.20,000, the returns can be received in cash.
3. On the date of maturity, the deposits can be renewed automatically.
4. Loans can be secured for against the deposit for up to 90% of the FD value.
5. Joint account with two adults or one minor with another adult
6. Maximum deposit amount for a minor: Rs.50,000

Features of Money Multiplier Deposit Certificate (MMDC)

1. The interest income gets added to the principal amount which gets reinvested
2. Minimum investment: Rs.100
3. Maturity period: 6 months to 10 years
4. You can apply for loan against FD.

Features of Monthly Interest Deposit (MIDR)

1. Minimum amount of deposit: Rs.5,000
2. Maturity period: 1 year to 10 years
3. Loans can be availed against the deposit
4. Monthly interest payout

Features of Quarterly Interest Deposit (QIDR)

1. Quarterly interest payment
2. Lower limit of deposit: Rs.5,000
3. Facility to secure loans against the deposit: Available
4. Maximum amount of deposit: Under Rs.1 crore
5. Rate of interest: 6.50% p.a.

Features of Cent‑555 Scheme (Central Bank of India)

1. Maturity period: 555 days
2. Interest rate: 7.25% p.a.
3. Interest is compounded on a quarterly basis
4. Lower limit of deposit: Rs.1,000
5. Upper limit of deposit: Below Rs.1 crore
6. If a loan is secured against the deposit, you can prematurely withdraw from the FD account.

Features of Cent‑777 Scheme (Central Bank of India)

1. Interest payout: Monthly/Quarterly/Half-yearly
2. Tenure: 777 days
3. Deposit range: Rs.1,000 to Rs.1 crore
4. FD rate: 7.15% p.a.
5. Provision for premature withdrawals

Features of Cent Uttam Scheme (Central Bank of India)

1. High liquidity
2. Flexibility to partially withdraw funds
3. Minimum deposit: Rs.5,000
4. Maturity period: 1 month to 10 days
5. A ‘Pass Book’ will be given to the depositor
6. Loans can be pledged against the Term Deposit.

Features of Cent Tax‑Saving Deposit Scheme

1. Joint accounts allowed
2. You get tax benefits as per Section 80C of the Income Tax Act, 1961.
3. Lock-in tenure: 5 years
4. Deposit range: Rs.100 to Rs.1.50 lakh
5. Interest rate: 5.35% p.a.

Features of Cent Aspire Deposit Scheme (Central Bank of India)

1. This scheme is available in:
   1. QIDR
   2. MIDR
   3. MMDC

1. Minimum investment: Rs.20,000
2. Tenure range: 1 year and above in multiples of 3 months up to 10 years
3. Option of auto renewal available
4. You have the option of nominating a beneficiary.

Features of Cent Suraksha Deposit Scheme (Central Bank of India)

1. The scheme has two variants:
   1. Cent Suraksha Deposit (PMSBY)- Rs.177
   2. Cent Suraksha Deposit Yojana (PMSBY/PMJJBY)- Rs.4,317

1. Yearly interest payout
2. Interest is compounded at quarterly intervals
3. Maturity period range: 5 years to 10 years
4. TDS is applied to the interest income
5. Interest rate: 6.25% p.a.
6. Special interest rates:
   1. Senior Citizens: 0.50%
   2. Senior Citizens who is a former employee of the bank: 1.50% p.a.
   3. Current employee/ Former employee/ Spouse of a deceased employee: 1.00%

1. You can withdraw from the deposit prior to the maturity date.

Central Bank of India Flexi Yield Deposit Scheme

1. Floating rate of interest higher than normal interest rate
2. Minimum deposit of Rs.50,000 and multiples of Rs.5,000 thereafter
3. Tenure range between 1 year and 10 years
4. Rate of interest prevailing on deposit date
5. Loans and advance against deposit can be availed
6. Payment before maturity can be availed with certain conditions

Premature withdrawal of the Central Bank Fixed Deposit

1. No penalty is levied for premature withdrawal of deposits under Rs.5 lakh
2. 1% penal interest is charged on premature encashment of FDs of Rs.5 lakh and above.

Central Bank of India FD Rates (Deposits under ₹2 crore)

*Note: The Central Bank of India FD rates are subject to change at the discretion of the bank. The interest rates given in this table are valid as of  10 April 2025.

Central Bank’s Eligibility Criteria to Open an FD Account

1. Indian Citizens
2. Hindu Undivided Family (HUF) member
3. Individuals who are visually impaired
4. Individuals who do have formal education
5. Charity organizations
6. Educational institutes
7. Firms in partnership
8. Traders and agents
9. Societies and clubs
10. Corporates

Documents Required to Open Central Bank of India FD Account

ID proof

(any one)

1. Aadhaar Card
2. Driving license
3. Permanent Account Number (PAN) card
4. Voter ID
5. ID card from an authorized employer

Residential proof

(any one)

1. Electricity or Telephone bill
2. Salary receipt
3. Bonafide letter attested by your employer or government body
4. Aadhaar Card

Proof to determine age

(only for senior citizens and minors)

1. Senior citizens (any one)
   1. Voter ID
   2. Pension slip
   3. Driver’s license
   4. Permanent Account Number (PAN) card
   5. Document stating retirement from a company

1. Minors
   1. Government-validated birth certificate

1. 2 color passport-size photographs of the applicant, if you are not an existing customer of the bank.