Product Details
Bank Name
Central Bank of India
Eligibility
All type of customers eligible for opening including NRE customers.
Interest Rate
8.05%
Tenure
777 days
Fixed Deposit Type
Regular
Cent Garima Term Deposit Scheme
Tax Benefits
None
Credit Ratings
CRISIL A1+
Interest Payment Frequency
Monthly/ Quarterly/ Maturity. Typically for fixed deposits having interest payment at maturity, compound interest is applicable and for fixed deposits having monthly interest payment, simple interest is applicable. Typically fixed deposits having a tenure of one year or less, simple interest is applicable. It is best to consult the bank officials before you book a fixed deposit.
Cummulative/Non-Cummulative
Both
Features
Minimum deposit of 10,000.
The maximum deposit amount can be 10 crore.
Premature closure of the deposit is allowed.
Specific tenure of 777 days.
Minimum Investment Amount
10,000
Features & Benefits
Pros
Flexible interest payout options.
Competitive interest rates.
Nomination Facility
Cons
There is no flexibility in tenure.
Minimum deposit of 10,000 is required initially.
Pros & Cons
Account Opening Procedure
How to Open?
1. Visit a Branch:
Locate your nearest Central Bank of India branch.
Bring the required documents:
Identification proof (Aadhaar card, PAN card, passport, etc.)
Address proof (utility bill, ration card, etc.)Passport-sized photographs
2. Fill Out the Application Form:
Obtain an FD application form from the bank.
Fill in the necessary details, including:Deposit amount
Tenure (duration of the FD)Nominee details (if any)
Contact information
3. Submit Documents and Deposit Funds:
Submit the completed application form along with the required documents.
Deposit the desired amount for your FD.
4. Receive the Fixed Deposit Receipt (FDR):
Once the process is complete, you will receive an FDR as proof of your investment.
Application Procedure
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