Cent Super Time Deposit for 555 Days|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

Interest Rate

7.25 to 7.75% per annum.

Tenure

555 Days

Fixed Deposit Type

Regular

Cent Super Time Deposit for 555 Days

Tax Benefits

None

Credit Ratings

CRISIL A1+

Interest Payment Frequency

At 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

Not specified by the bank.

Features

• Minimum deposit of 10,000.
• The maximum deposit amount can be 10 crore.
• Premature closure of the deposit is allowed.
• Specific tenure of 555 days.

Minimum Investment Amount

10,000

Features & Benefits

Pros

• Competitive interest rates.
• Nomination facility.

Cons

• There is no flexibility in tenure.

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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