Central Bank of India FD Rates

Central Bank was established in the year 1911 and is owned by the government of India. The bank offers attractive interest rates on various schemes. This article explores the latest FD rates offered by the bank.

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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 2022
Domestic Term Deposit of up to 2 crores (w.e.f. 10.02.2022)
Maturity Period Applicable Interest Rate (p.a.)
7 – 14 days 2.75%
15 – 30 days 2.90%
31 – 45 2.90%
45 – 59 3.25%
60 – 90 3.25%
91 – 179 3.80%
180 – 270 4.25%
271 – 364 4.25%
1 year to less than 2 years  5.00%
2 years to less than 3 years 5.10%
3 years to less than 5 years 5.10%
5 years & above up to 10 years 5.15%
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Domestic Term Deposit of 2 crores to 10 crores (w.e.f. 10.07.2021)
Maturity Period Applicable Interest Rate (p.a.)
7 – 14 days 2.90%
15 – 30 days 2.90%
31 – 45 2.90%
45 – 59 2.90%
60 – 90 2.90%
91 – 179 2.90%
180 – 270 3.00%
271 – 364 3.25%
1 year to less than 2 years  3.25%
2 years to less than 3 years 3.25%
3 years to less than 5 years 3.25%
5 years & above up to 10 years 3.25%
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Compare FD Interest Rates of Top Financial Institutions
BANKS GENERAL CITIZENS SENIOR CITIZEN
Central Bank of India FD Rates 2.75% - 5.00% 2.90% - 3.25%
Axis Bank FD Rates 2.50% - 5.75% 2.50% - 6.50%
Bandhan Bank FD Rates 3.00% - 5.00% 3.75% - 5.75%
Bank of Baroda FD Rates 2.80% - 5.25% 3.30% - 6.25%
Bank of India FD Rates 2.85% - 5.05% 3.35% - 5.55%
Canara Bank FD Rates 2.90% - 5.40% 2.90% - 5.90%
DBS Bank FD Rates 2.50% - 5.50% 3.50% - 6.00%
HDFC Bank FD Rates 2.50% - 5.60% 3.00% - 6.35%
IDFC Bank FD Rates 2.50% - 6.00% 3.00% - 6.50%
Indian Bank FD Rates 2.90% - 5.15% 3.40% - 5.65%
Indian Overseas Bank FD Rates 3.40% - 5.20% 3.90% - 5.70%
IndusInd Bank FD Rates 2.50% - 6.00% 3.00% - 6.50%
Punjab National Bank FD Rates 2.90% - 5.25% 3.50% - 5.75%
SBI FD Rates 5.30% - 5.40% 5.80% - 6.20%
UCO Bank FD Rates 2.55% - 5.05% 3.80% - 6.30%
Yes Bank FD Rates 3.25% - 6.25% 3.75% - 7.25%
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FD rates vary significantly for different maturity periods. You can keep your money deposited for tenures ranging between 7 days to 10 years, depending upon your goals and future financial requirement. You can also use an online FD calculator to know your investment amount and relevant information beforehand. 

Use the below-mentioned FD rates to know your exact returns over the years.

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 the data provided below.

Get Market Linked Returns Get Market Linked Returns

About Central Bank Fixed Deposit Interest Rate Calculator

Central Bank Fixed Deposit calculator is an easy-to-use, hassle-free tool that helps in quick calculation of the maturity amount and the interest earned receivable at the end of the policy tenure. By entering some basic details, you can calculate the correct FD amount. Here are the steps that an investor needs to follow to calculate Fixed Deposit rates on the FD Calculator:

  • The amount that is invested

  • The Rate of Interest offered

  • The tenure of the Fixed Deposit Account

  • The compounding period, that is, yearly, half-yearly, quarterly, or monthly

  • The FD Amount

Once entered the following details, an investor will come to know:

  • The maturity value of the FD

  • The total interest earned during the complete tenure

Tax Saver FD (Max Deposit – 1.5 LPA)

MATURITY PERIOD DEPOSIT AMOUNT INTEREST RATE (% p.a.)
CENT Tax Saving Deposit – 5 Years Up to Rs 1.5 lakh Up to 5.10%
Get Market Linked Returns Get Market Linked Returns

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

  1. For High-Cost Bulk Deposits - Above Rs.10 Cr (w.e.f 13.07.2021)

    Maturity Period Applicable Interest Rate (p.a.)
    7 – 14 days 2.90%
    15 – 30 days 2.65%
    31 – 45 2.65%
    45 – 59 2.65%
    60 – 90 2.65%
    91 – 179 2.65%
    180 – 270 2.75%
    271 – 364 2.75%
    12 months to 13 months 2.50%
  2. NRE Deposit Interest Rate for less than 2 crores (w.e.f. 10.02.2022)

    Maturity Period Applicable Interest Rate (p.a.)
    1 year to less than 2 years 5.00%
    2 years to less than 3 years 5.10%
    3 years to less than 5 years 5.10%
    5 years & above up to 10 years 5.15%
  3. NRE Deposit Interest Rate for 2 crores to 10 crores (w.e.f. 10.02.2022)

    Maturity Period Applicable Interest Rate (p.a.)
    1 year to less than 2 years 3.25%
    2 years to less than 3 years 3.25%
    3 years to less than 5 years 3.25%
    5 years & above up to 10 years 3.25%

Things to Note

For all Non-Resident Indians, note the following things to proceed with receiving benefits from your FD:

  • Additional interest benefit does not apply to senior citizens and ex-staff/ staff.

  • For premature withdrawals, no interest applies if FD is closed before completion of 1 year. 1% penalty amount applies if FD is closed before the maturity period after completion of one year.

  • Premature withdrawal is not available for investors opting to take out loans against their FD.

  • For investments of above 10 crores, contact your nearest Central Bank branch or relationship manager.

FD Calculator

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₹500 ₹10L
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