Product Details
Bank Name
Central Bank of India
Account Name
Cent Param
Account Type
Salaried/pension
Interest Rate
At present up to Rs 10.00 lacs 2.90 % p.a. and above Rs.10 lacs 2.75 % p.a.
Free Debit Card
Yes
Account Opening Fees
0
Annual Maintenance Fees
0
Minimum Account Balance
0
Debit Card Charges
0
NEFT Charges
Free online
IMPS Charges
Free online
Fees and Charges
Cent Param
Special Features
Lifetime unique account number.
Eligibility Criteria
Benefits
Features, Eligibility and Benefits
Pros & Cons
Pros
Personnel with this account have the facility of getting their salaries directly being credited into the account.
Tele-banking, Mobile banking, Internet banking and SMS Alert facility is available to the users.
Joint account facility available.
Account holders can also enjoy a waiver on fuel charges, and insurance cover for accidents.
Up to Rs.10 lakh insurance cover can be availed.
An unlimited chequebook facility is provided.
Account holders are entitled to a 25% concession in the bank’s commission for purchasing gold. coins.
Cons
Cent Param Review
The account offers a very low interest rate. The account comes with decent-value add features. Overall the account has no distinguishing feature.
Abhijeet Saxena
Abhijeet Saxena
Nalsar University of Law
Ex- Senior Associate, Shardul Amarchand Mangaldas, Delhi
Ex - Khaitan & Co. Bengaluru,
Ex - National Stock Exchange, Mumbai,
Ex - Argus Partners, Mumbai
Product Review
Account Opening and Procedure
How to open an Account?
Methods to Open an Account:
Visiting a Branch:
The traditional method involves going to your nearest Central Bank of India branch.
You'll need to fill out an account opening form and submit the required documents.Online Account Opening:
Central Bank of India is offering online account opening facilities, including Video KYC based account opening. This allows for a more streamlined process.This option is available through the banks website.