Fixed Deposit Details
Bank Name
Central Bank of India
Eligibility
A person in his individual capacity.
More than one person in their joint names
A minor jointly with a major
A minor over the age of 10 years who can read and write and operate the account personally.(Maturity value should not exceed Rs.50000/-)
Charitable and educational institutions.
HUF
Blind Persons
Illiterate persons
Private Traders , Merchants , Agents , Professionals Partnerships Firms , Companies Clubs , Societies & Corporates.
Interest Rate
7.45 to 7.95%
Tenure
444 days
Fixed Deposit Type
Regular
Cent Super Callable Time Deposit for 444 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 444 days.
Minimum Investment Amount
10,000
Features & Benefits
Pros
Competitive interest rates.
Nomination Facility
Cons
There is no flexibility in tenure.
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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