What are the current FD rates at the Central Bank of India for senior citizens?

The latest Central Bank of India senior citizen FD rates start from 3.50% to 6.75% p.a.

Can senior citizens avoid TDS on FD interest at the Central Bank of India?

Yes, senior citizens can avail of an overdraft or loan facility up to 90% of the FD amount. The rate of interest is charged in accordance with the bankâs prevailing rules.

Can senior citizens get a loan against their Central Bank of India FD?

Yes, senior citizens can avail of an overdraft or loan facility up to 90% of the FD amount. The rate of interest is charged as per the bankâs prevailing rules.

Can I get monthly interest payouts from my Central Bank of India senior citizen FD?

Yes, the bank offers monthly, quarterly, half-yearly, or cumulative interest payout options. You can select the one that suits your income needs.

Is there any particular Central Bank of India FD scheme for senior citizens to save tax?Â

Yes, senior citizens can invest in the 5-year Tax Saver Fixed Deposit offered by the Central Bank of India under Section 80C of the Income Tax Act. It allows a tax deduction of up to â¹1.5 lakh per annum.

Central Bank Senior Citizen FD Rates 2026

Central Bank of India FD rates for senior citizens range from 3.50% to 6.75% per annum, depending on the deposit amount and tenure. The tenure options range from 7 days to 10 years. Senior citizens enjoy an additional 0.50% interest rate above the market rates.

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What is a Central Bank of India Senior Citizen FD?

The Central Bank of India Senior Citizen FD is designed for individuals aged 60 and above, offering an interest rate 0.50% higher than regular FDs. Super senior citizens (80 years and above) enjoy an additional 0.75% interest, while ex-staff senior citizens and ex-staff super senior citizens benefit from 1.50% and 1.75% higher rates, respectively. Senior citizens can conveniently open an FD either online or at any Central Bank of India branch. To check the latest rates, refer to the latest Central Bank of India FD interest rates.

Key Benefits of Central Bank of India Senior Citizen FD

The following are some of the important benefits of the Central Bank of India senior citizen FD:

Flexible Investment Amount: Central Bank of India fixed deposits for senior citizens start from as low as ₹100, with no maximum limit, making them accessible for both small and large investors.
Auto-Renewal Facility: Central Bank of India offers an auto-renewal option for senior citizen FDs, allowing deposits to be automatically renewed at prevailing interest rates upon maturity. Investors can also provide specific instructions for renewal duration and amount, minimising the need to visit the branch.
Premature Withdrawal: Senior citizens can withdraw their fixed deposits before maturity if needed. However, a 1% penalty on the applicable interest rate will be deducted if the account is closed early after 7 days. No interest is paid if the deposit is withdrawn within 7 days of opening.
Multiple Payout Options: The Central Bank of India allows senior citizens to choose from monthly, quarterly, half-yearly, or cumulative interest payout schedules.
Sweep-in and Sweep-out Facility: Senior citizens can link their savings accounts with FD accounts using the sweep-in facility for higher returns and the sweep-out facility to ensure funds are available when needed.

Central Bank of India FD Interest Rates for Senior Citizens

Here’s a quick look at the Central Bank of India senior citizen FD interest rates across different deposit tenures:

Central Bank of India FD Interest Rates for Senior Citizens: Deposits Less Than ₹3 Crore

Tenure	Senior Citizen Rate (% p.a.)
7 -14 days	3.50%
15 – 30 days	4.00%
31 - 45 days	4.00%
46 – 59 days	4.75%
60 – 90 days	4.50%
91 – 179 days	4.75%
180 – 270 days	6.00%
271 – 364 days	6.00%
1 yr to less than 2 yrs	6.60%
2 yr to less than 3 years	6.75%
3 yr to less than 5 years	6.50%
5 years & above upto 10 years	6.50%

*Central Bank of India senior citizens FD interest rates w.e.f. June 06, 2026

Central Bank Senior Citizen FD Rates – Cent Green Deposit

Tenure	Senior Citizen Rate (% p.a.)
7 – 14 days	4.50
15 – 30 days	4.75
31 – 45 days	4.75
46 – 59 days	5.25
60 – 90 days	5.50
91 – 179 days	5.25
180 – 270 days	5.50
271 – 364 days	5.50
1 year to less than 2 years	6.70
2 years to less than 3 years	6.75
3 years to less than 5 years	6.50
5 years & above up to 10 years	6.50

*Central Bank of India senior citizens FD interest rates w.e.f. June 06, 2026

Central Bank of India Senior Citizen FD Rates – Cent Green Deposit

Tenure	Senior Citizen Rate (% p.a.)
1,111 days	6.75
2,222 days	7.00
3,333 days	7.00

*Central Bank of India senior citizens FD interest rates w.e.f. June 06, 2026

Central Bank of India Senior Citizen FD Rates – SPECIAL TERM DEPOSIT

Tenure	Senior Citizen Rate (% p.a.)
555 days	6.80

*Central Bank of India senior citizens FD interest rates w.e.f. June 06, 2026

Note: Customers can compare FD interest rates from other top banks in India to choose the best option.

How to Open a Central Bank of India Senior Citizen FD?

The Central Bank of India allows senior citizens to open Fixed Deposits (FDs) through both online and offline channels. Below is a step-by-step guide for each method:

Online Method
- Login: Visit the Central Bank of India Net Banking portal and log in to your account.
- Navigate to FD Section: Go to “Fixed Deposit” or “Term Deposit” under the available services.
- Select Deposit Details
- Enter the deposit amount.
- Choose the tenure (7 days to 10 years)
- Select interest payout frequency (monthly/quarterly/cumulative)
- Submit & Fund FD: Confirm details and transfer funds directly from your linked bank account.
- Receive Confirmation: Once processed, your FD details will be visible in your internet or mobile banking account.
Offline Method
- Visit a Nearby Branch: Use the “Branch Locator” on the Central Bank of India website to find your nearest branch.
- Carry Required Documents
  - PAN Card
  - Address proof (Aadhaar, Passport, DL, or Voter ID)
  - Passport-sized photo
  - Form 15H (if applicable, to avoid TDS)
- Fill Application Form: Request the FD application form, fill it out, and choose tenure and interest payout mode.
- Deposit Funds: Pay the deposit amount via cash, cheque, or bank transfer.
- Collect FD Receipt: You’ll receive an FD certificate or deposit advice with full details once your deposit is processed.

Taxation on Central Bank Senior Citizen FD Interest

Interest earned on Central Bank of India Senior Citizen Fixed Deposits is taxable as "Income from Other Sources." Here's a detailed breakdown of the tax rules:

Tax Deducted at Source (TDS): TDS is applicable only if the total annual interest from a bank exceeds ₹1,00,000 for senior citizens. The TDS rate is 10% if a PAN card is provided; otherwise, it is 20%.
Avoiding TDS: To prevent the bank from deducting TDS, senior citizens can submit Form 15H to the Central Bank of India. This is a self-declaration form stating that their total income for the financial year is below the basic exemption limit, resulting in zero tax liability.
Deduction under Section 80TTB: Senior citizens can claim a deduction of up to ₹50,000 on interest income from all their deposits (including savings accounts, fixed deposits, and recurring deposits) in banks and post offices. This deduction is claimed when filing the Income Tax Return (ITR) and helps in reducing the overall taxable income.
Tax-Saving FDs: Tax-saving FDs offered by the Central Bank of India qualify for a deduction of up to ₹1,50,000 on the principal amount invested under Section 80C of the Income Tax Act. However, it is important to note that the interest earned on these FDs is still fully taxable as per the individual's income tax slab.

Key Takeaways

Central Bank of India Senior Citizen FDs offer interest rates 0.50% higher than regular FDs, ranging from 3.50% to 6.75% p.a., and flexible tenures ranging from 7 days to 10 years. With the added convenience of online account opening, multiple interest payout options, loan/overdraft facilities of up to 90% of the FD amount, and sweep-in/sweep-out benefits. Before investing, it's advisable to compare current interest rates and scheme terms on the bank's official website to make an informed decision.

FAQs

What are the current FD rates at the Central Bank of India for senior citizens?

The latest Central Bank of India senior citizen FD rates start from 3.50% to 6.75% p.a.
Can senior citizens avoid TDS on FD interest at the Central Bank of India?

Yes, senior citizens can avail of an overdraft or loan facility up to 90% of the FD amount. The rate of interest is charged in accordance with the bank’s prevailing rules.
Can senior citizens get a loan against their Central Bank of India FD?

Yes, senior citizens can avail of an overdraft or loan facility up to 90% of the FD amount. The rate of interest is charged as per the bank’s prevailing rules.
Can I get monthly interest payouts from my Central Bank of India senior citizen FD?

Yes, the bank offers monthly, quarterly, half-yearly, or cumulative interest payout options. You can select the one that suits your income needs.
Is there any particular Central Bank of India FD scheme for senior citizens to save tax?

Yes, senior citizens can invest in the 5-year Tax Saver Fixed Deposit offered by the Central Bank of India under Section 80C of the Income Tax Act. It allows a tax deduction of up to ₹1.5 lakh per annum.