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Product 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

Up to 7.50%.

Tenure

7 days to 120 months.

Fixed Deposit Type

Regular

Fixed Deposit Receipt (FDR)

Fixed Deposit Receipt (FDR)

Tax Benefits

None

Credit Ratings

CRISIL A1+

Interest Payment Frequency

Half-yearly, Maturity.

Cummulative/Non-Cummulative

Non Cumulative

Features
  • Minimum deposit amount of Rs 100.

  • There is no maximum limit for the maximum deposit amount.

  • You can get a loan against fixed deposits.

  • The minimum deposit period is 7 days and the maximum is 10 years.

  • Additional concession in interest rate for senior citizens.

Minimum Investment Amount

100

Features & Benefits
Pros
  • Minimum deposit amount of Rs 1,000.

  • Loans against deposits are available for up to 90% of the deposit amount.

  • No limit on the maximum deposit amount.

Cons
  • No cumulative interest payout options.

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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