Central Bank of India FD Rates

The Central Bank of India FD rates offers the fixed deposit interest rates given that they deeply vary from each other based on their terms. The perfect to go period is one-two years. This session offers the maximum rates of interest up to 7.00%. The rates offered at other events are similarly decent enough let's assume for above two years as high as 7.00 % and just 6.90 % for the period less than a year.

The rates of interest for this fiscal equipment are much more than account savings rates of interest, yet they lack behind in offering required liquidity. Even though one could avail of a loan of it, still one cannot retreat whatever sum one likes whenever people need it.

Features of Central Bank of India Fixed Deposit

Investment Amount  Minimum - Rs.5000 Maximum- No Maximum Limit
Tenure  Minimum - 7 daysMaximum- 10 Years
Interest Rate  Minimum - 3.40 %Maximum- 5.35%

Central Bank of India Fixed Deposit Rates 2021

Central Bank of India FD Rates in India
Tenure General Public FD Rates Senior Citizen FD Rates
7 days to 14 days 3.40% 3.90%
15 days to 30 days 3.40% 3.90%
31 days to 45 days 3.40% 3.90%
46 days to 59 days 3.90% 4.40%
60 days to 90 days 3.90% 4.40%
91 days to 179 days 4.55% 5.05%
180 days to 270 days 4.80% 5.30%
271 days to 364 days 4.80% 5.30%
555 days 5.35% 5.85%
777 days 5.35% 5.85%
1 year to 1 year 364 days 5.35% 5.85%
2 years to 2 years 364 days 5.35% 5.85%
3 years to 4 years 364 days 5.35% 5.85%
5 years to 10 years 5.35% 5.85%

Comparison of FD Rates by Top 10 Financial Institutes

Name Interest Rates Tenure  
Axis Bank 5.75% 5 years to 10 years View Details
Bank of Baroda 5.30% 5 years 1 day to 10 years View Details
Bank of India 5.40% 5 years to 10 years View Details
Canara Bank 5.45% 3 years to 10 years View Details
Central Bank of India 5.35% 5 years to 10 years View Details
HDFC Bank 5.50% 5 years 1 day to 10 years View Details
ICICI Bank 5.50% 5 years 1 day to 10 years View Details
IDBI Bank 5.70% 7 years 1 day to 10 years View Details
State Bank Of India 5.40% 5 years to 10 years View Details
Yes Bank 7.00% 1 year to 10 years View Details

Central Bank of India Fixed Deposit Rates

It is advisable to reconfirm the FD interest rate from the bank before making any decision on basis of data provided below.

For Domestic Deposits – Between Rs.2 Cr to Rs.10 Cr (w.e.f 17.08.2020)

MATURITY PERIOD

DEPOSIT AMOUNT

INTEREST RATE p.a.)

General

Senior Citizen

7 days to 14 days

Rs. 2 cr to Rs. 10 cr

2.75%

3.25%

15 days to 30 days

Rs. 2 cr to Rs. 10 cr

2.75%

3.25%

31 days to 45 days

Rs. 2 cr to Rs. 10 cr

2.75%

3.25%

46 days to 59 days

Rs. 2 cr to Rs. 10 cr

3.00%

3.50%

60 days to 90 days

Rs. 2 cr to Rs. 10 cr

3.00%

3.50%

91 days to 179 days

Rs. 2 cr to Rs. 10 cr

3.00%

3.50%

180 days to 270 days

Rs. 2 cr to Rs. 10 cr

3.00%

3.50%

271 days to 364 days

Rs. 2 cr to Rs. 10 cr

3.25%

3.75%

1 year to less than 2 years

Rs. 2 cr to Rs. 10 cr

3.50%

4.00%

2 years to less than 3 years

Rs. 2 cr to Rs. 10 cr

3.50%

4.00%

3 years to less than 5 years

Rs. 2 cr to Rs. 10 cr

3.50%

4.00%

5 years and above up to 10 years

Rs. 2 cr to Rs. 10 cr

3.50%

4.00%

555 days

Rs. 2 cr to Rs. 10 cr

NA

NA

777 days

Rs. 2 cr to Rs. 10 cr

NA

NA

Cent Double

Rs. 2 cr to Rs. 10 cr

NA

NA

Note: The aforementioned Fixed Deposit rates are for deposits ranging between Rs.2 Crore to Rs.10 Crore and are applicable w.e.f. 17. August.2020.

Tax Saver FD (Max Deposit – 1 LPA)

MATURITY PERIOD

DEPOSIT AMOUNT

INTEREST RATE (% p.a.)

CENT Tax Saving Deposit – 5 Years

Up to Rs. 1 lakh

The rate of interest to be applied to the Cent tax Savings Deposit Scheme will be by the interest rate on domestic term deposits (up to Rs. 15 lacs) applicable to the five-year term.

Tax Implications

  • The amount invested in Fixed Deposit with a tenure of 5 years with Central Bank of India is eligible for tax deduction under IT section 80C, whereas the interest earned on the investment is taxable.
  • The applicable tax will be deducted at source, i.e. Central Bank of India, in case the annual interest earned crosses Rs. 10,000.

*Tax benefit is subject to changes in tax laws

For High-Cost Bulk Deposits - Above Rs.10 Cr (w.e.f 18.08.2020)

Maturity Period

Deposit Amount

Interest Rate

7 days to 14 days

More than Rs.10 Cr

2.75%

15 days to 30 days

More than Rs.10 Cr

2.50%

31 days to 45 days

More than Rs.10 Cr

2.50%

46 days to 59 days

More than Rs.10 Cr

2.75%

60 days to 90 days

More than Rs.10 Cr

2.75%

91 days to 179 days

More than Rs.10 Cr

2.75%

180 days to 270 days

More than Rs.10 Cr

2.75%

271 days to 364 days

More than Rs.10 Cr

2.75%

12 months to 13 months

More than Rs.10 Cr

2.75%

Note: The aforementioned Central Bank of India FD rates are for deposits less than Rs.2 Crore and are W.E.F. 09.September.2020.

About Central Bank of India

Central Bank established in the year 1911 and comes under the category of Government-owned banks offering attractive interest rates on various schemes. The section of the article below highlights the key points of Central Bank FD interest rates.

FD in Central bank is an expenditure in which the interest rates are assured not to change for the specified term, so you know the exact value of your investment in hand. Banking assistance is available for all places, including private and business clients. Even, there exist professional services for the non-resident Indians, experts, ladies, and also the agricultural sector.

Written By: PolicyBazaar - Updated: 29 October 2020
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