Earn interest up to 8.10% p.a. by investing in a Bajaj Finance Fixed Deposit | Rated CRISIL AAA/ STABLE and [ICRA]AAA(stable)

** Disclaimer: Central Bank has not partnered with Bajaj Markets. The information is intended for educational purposes only. You are advised to contact the Banks/NBFCs for additional details.

 

The Central Bank of India FD is available to all investors at interest rates starting from 3.00% to 7.35% p.a. Do note that the Central Bank of India interest rate you get will vary across tenors ranging from 7 days to 10 years. For a 5-year tenure, the interest rate on the Tax Saving FDs for general public depositors is 6.00% per annum. 

 

The bank also provides a range of fixed deposit products for NRIs, including NRE, RFC, and FCNR (B) fixed deposits. In addition to US Dollars (USD), the bank accepts FCNR deposits in a number of foreign currencies, including Euros, British Pounds, AUD, etc. 

 

For a breakdown of the rates offered for the Central Bank of India Fixed Deposit, read on. 

Interest Rates on Fixed Deposits from the Central Bank of India in 2023 (Domestic)

The following fixed deposit interest rates will apply to domestic Central Bank Of India Fixed Deposit Schemes under ₹2 crore.

Tenure Terms

Interest Rates for Regular Citizens (per annum)

Interest Rates for Senior Citizens (per annum)

7 days to 14 days

3.00%

3.50%

15 days to 30 days

3.25%

3.75%

31 days to 45 days

3.25%

3.75%

46 days to 59 days

4.25%

4.75%

60 days to 90 days

4.25%

4.75%

91 days to 179 days

4.50%

5.00%

180 days to 270 days

5.50%

6.00%

271 days to 364 days

5.50%

6.00%

1 year to less than 2 years

6.75%

7.25%

2 years to less than 3 years

6.50%

7.00%

3 years to less than 5 years

6.00%

6.50%

5 years to 10 years

6.00%

6.50%

Special Tenor Options (Callable or With Withdrawals)

Interest Rates for Regular Citizens (per annum)

Interest Rates for Senior Citizens (per annum)

444 days

7.35%

7.85%

555 days

7.00%

7.50%

999 days 

6.50%

7.00%

Disclaimer: These Central Bank of India Fixed Deposit interest rates are subject to change at the discretion of the bank.

Special Tenor Options for fixed deposits with Non-callable or without withdrawal facility

Special Tenor Options (Non-callable)

Interest Rates for Regular Citizens (per annum)

Interest Rates for Senior Citizens (per annum)

444 days

7.60%

8.10%

555 days

7.25%

7.75%

999 days 

6.75%

7.25%

Disclaimer: These Central Bank of India Fixed Deposit interest rates are subject to change at the discretion of the bank.

Rates for Fixed Deposits at the Central Bank of India (₹2 crore to ₹10 crore)

Tenor Options

Rates of Interest Per Annum

7 days to 14 days

4.00%

15 days to 30 days

4.00%

31 days to 45 days

4.50%

46 days to 59 days

4.50%

60 days to 90 days

3.50%

91 days to 179 days

4.50%

180 days to 270 days

5.65%

271 days to 364 days

5.65%

1 year but less than 2 years

6.25%

2 years but less than 3 years

5.75%

3 years but less than 5 years

5.50%

5 years and above and up to 10 years

5.50%

555 days

6.75%

999 days

6.50%

Disclaimer: These Central Bank of India Fixed Deposit interest rates are subject to change at the discretion of the bank.

Tax Saving FD Rates from the Central Bank of India

Tenor Options

Rates of Interest Per Annum

5 years

6.00%

Disclaimer: These Central Bank of India Fixed Deposit interest rates are subject to change at the discretion of the bank.

NRI FD Rates of the Central Bank of India (for International FD Holders)

  • NRE FD Rates (Less than ₹2 crore)

Tenure Options

Rates of Interest Per Annum

1 year to less than 2 years

6.15%

2 years to less than 3 years

6.00%

3 years to less than 5 years

5.75%

5 years to 10 years

5.75%

Disclaimer: These Central Bank of India Fixed Deposit interest rates are subject to change at the discretion of the bank.

  • NRE FD Rates (₹2 crore to ₹10 crore)

Tenure Options

Rates of Interest Per Annum

1 year to less than 2 years

5.10%

2 years to less than 3 years

5.75%

3 years to less than 5 years

5.50%

5 years to 10 years

5.50%

The Central Bank of India's FD rates might change at any time, at the discretion of the bank.

Central Bank of India FD: Features and Benefits

Some of the top benefits of this fixed deposit scheme include: 

 

  • The required minimum deposit is ₹100

  • The FD schemes have tenor options ranging between 7 days and 10 years

  • You can enjoy attractive Central Bank of India Fixed Deposit rates as an investor

  • You can add nominees to your deposit

  • There is a provision for premature withdrawal

  • You can apply for loans secured by FDs

Eligibility Requirements & Documentation

The following categories of investors are eligible to apply for an FD scheme with the Central Bank of India:

 

  • Individuals

  • Visually Disabled

  • Illiterate Individuals

  • Undivided Hindu Families (HUFs)

  • Charity and educational organisations

  • Corporations, societies, clubs, businesses, partnership firms, professionals, agents, merchants, and independent traders

Documentations Required

The following documents are necessary to apply for an FD scheme with the Central Bank of India:

 

  • Proof of identity

  • Address proof

  • For minors and senior citizens, proof of age is required

  • Two recent passport-sized photographs 

Fixed Deposit Schemes Offered by the Central Bank of India for Domestic Investors

The tenor terms for all these schemes range between 7 days to 10 years, with the minimum deposit amount of ₹100 to maximum deposit amount up to ₹2 crores.

 

  • Fixed Deposit Receipt (FDR)

  • Money Multiplier Deposit Certificate (MMDC)

  • Monthly Interest Deposit Receipt (MIDR)

  • Quarterly Interest Deposit Receipt (QIDR)

  • Cent Tax Saving Deposit

  • Cent Aspire Scheme

  • Cent Suraksha Deposit

  • Central Flexi Yield Deposit Scheme

Fixed Deposit Schemes of the Central Bank of India for PIOs and NRIs

The tenor terms for the following schemes typically range between 1 year to 3 years (except Cent 555 and MIDR/QIDR under Cent 555). The minimum deposit amount starts anywhere from between ₹1000 to up to ₹1 crore. 

 

There is an exception for the CENT FCNR with $10,000 as the minimum amount.

 

  • Cent 555 Term Deposit

  • MIDR / QIDR facility under Cent 555

  • CENT FCNR (B) Premium Plus Deposit Scheme

Central Bank of India FD Calculator

The Central Bank of India offers different FD Interest Rates for different tenor options. You can use the Central Bank of India FD calculator to understand which FD scheme best suits your financial interests. 

 

To calculate the total earnings at maturity, just enter the values of investment capital, interest rates along with the preferred tenor into the Central Bank FD calculator. If you are considering reinvestment plans can use the compound interest calculator to calculate the interest and the maturity amount. 

 

The Central Bank of India Fixed Deposit calculator is easily accessible online and free to use.

FAQs

  • ✔️Does the Central Bank of India offer auto-renewal on its fixed deposit?

    Yes, the Central Bank of India offers an auto-renewal facility on its fixed deposits. This feature allows you to make the most of the current CBI FD interest rate on offer. 

  • ✔️What is the highest interest rate that is offered by the Central Bank of India on its fixed deposit?

    The highest interest rate offered by the Central Bank of India is 7.35% p.a. for a tenor period of 444 days. With the CBI FD calculator, you can know exactly how much you can expect to earn within seconds.

  • ✔️What are the minimum and maximum tenure for which the customers can open the Central Bank of India Fixed Deposit?

    The Central Bank of India FD’s minimum tenor period is 7 days and the maximum tenor period is 10 years. Do note that you tenor affects your earnings, and you should pick a longer tenor to make the most of the higher CBI FD rates for senior citizens.

  • ✔️Is there a premature withdrawal option for Central Bank of India FDs?

    Yes, the Central Bank of India FDs offer a premature withdrawal option with a penalty of 1% interest rate levied on the FD.

  • ✔️What are the benefits provided to Senior Citizens under the Central Bank of India Fixed Deposit scheme?

    A key benefit is that the Central Bank of India’s interest rates for senior citizens is higher than the base rate. You get an additional 0.50% p.a.

  • ✔️What is the FD interest rate in the Central Bank of India?

    The Central Bank of India FD interest rates for tenors of 7 days to 10 years are between 3.00% and 7.35% p.a. The interest rate for the tax saving FDs is 6% for a period of 5 years and the Central Bank of India senior citizen FD rates are higher than the base rate offered.