Fixed Deposit Details
Bank Name
Central Bank of India
Eligibility
All type of customers eligible for opening. (Eligibility as per prevailing guidelines of Bank applicable to time Deposit accounts)
Interest Rate
Interest rates keep fluctuating from time to time due to changes in the Repo rate.
Tenure
1 to 3 years.
Fixed Deposit Type
Floating Interest Rate
Cent Floating Deposit Scheme
Tax Benefits
None
Credit Ratings
CRISIL A1+
Interest Payment Frequency
Not specified by the bank. 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
- The period of deposit can be from 1 year to 3 years.
- The deposit can be started with a minimum amount of Rs. 1,00,000 and maximum deposit amount can be 2 crores.
- Loan/ Overdraft against deposit is available
Minimum Investment Amount
1,00,000
Features & Benefits
Pros
- Higher interest can be earned through floating interest rates.
- Additional concessions are available for senior citizens.
Cons
- The minimum deposit amount under this scheme is 1 lakh.
- Tenure of upto 3 years only.
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.
Product Review
About this content
Public source: Original MyRupaya page
Captured 2026-11-06T10:58:56Z. Public page text has been preserved and restyled. Historical financial/product information may be outdated. Embedded widgets and forms are not copied or connected to live services.
