Cent Garima Term Deposit Scheme|Central Bank of India Fixed Deposit Rates-– Interest Rate, Calculator & Benefits

Fixed Deposit 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

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.

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