Central Bank of India RD Interest Rates

What is the Central Bank of India Recurring Deposit?

Central Bank Recurring Deposit is a scheme in which account holders pay a monthly installment for a fixed period and earn RD interest on the deposited amount. In a recurring deposit, earlier installments earn more interest than later ones, as every installment receives interest from the date of payment to maturity. If all installments are paid regularly, interest is calculated on the total balance and compounded periodically as per bank rules. You can also use the RD calculator to estimate accurate returns.

Central Bank of India RD Interest Rates

The following table provides the updated RD rates from the Central Bank of India for various tenures.

For Deposits Below ₹3 Crore

*Central Bank of India RD Interest Rates w.e.f. December 10, 2025

For Deposits of ₹3 Crore to ₹10 Crore

*Central Bank of India RD Interest Rates w.e.f. December 10, 2025

Types of Central Bank of India Recurring Deposit

The Central Bank of India provides various recurring deposit schemes to encourage disciplined savings with fixed or flexible monthly deposits. The schemes differ in terms of deposit flexibility, eligibility, and usage.

Standard Recurring Deposit

The bank offers a standard RD scheme that allows account holders to save a specific amount for a tenure ranging from 6 months to 10 years. The minimum monthly installment is ₹100, and subsequent deposits can be made in multiples of ₹50. Other facilities include a loan against the RD balance, nomination benefits, and additional interest for eligible senior citizens.

CENT Swa-Shakti Flexi Recurring Deposit Schemes

Central Bank of India flexi RD allows depositors to pay variable amounts with a monthly core installment in multiples of ₹100. The minimum installment is ₹100, and the maximum ceiling is ₹1,00,000.

In addition to the monthly core amount, additional funds can be deposited, but not more than 10 times the core amount. CENT Swa-Shakti is open to investors with a tenure of 6 months to 120 months.

CENT Surakshit Samriddhi RD

This is a special RD scheme with life insurance cover. While saving, the primary account holder receives insurance coverage equal to 100 times the monthly principal instalment. This scheme is open to individuals aged 18-50 years and can be opened jointly or singly.

The minimum monthly installment is ₹10,000, and the maximum is ₹1,00,000. Subsequent deposits can be made in multiples of ₹10,000. This scheme is open to investors for a fixed period of 84 months, and RD accounts for this scheme can be opened only offline.

CENT Lakhpati

The Cent Lakhpati scheme is structured so that, whichever tenure you choose, from 1 to 10 years, the maturity amount will be ₹1 lakh or more. It has a specific instalment amount for each tenure, and the amount increases the shorter the tenure you choose.

*Revision of installment and rate w.e.f. January, 10 2025

CENT Millionaire

CENT Millionaire scheme is a 10-year recurring deposit plan. Investors have to pay ₹5840 per month for the specified tenure, so that the maturity amount exceeds ₹10 lakhs(1 Million). The RD interest rate for this scheme will be set at the prevailing RD rate. Interest is calculated daily and credited every half‑yearly (usually in June & December). TDS applies to the interest earned.

Key Features of Central Bank of India RD

The Central Bank of India recurring deposit has several features that help save regularly each month. Key features include:

• Standing Instruction Facility: The bank offers a standing instruction facility for RD. This allows you to automatically pay the monthly payment from the linked account, helping you pay on time.
• Loan Against RD: The Central Bank of India loan against RD allows investors to borrow up to 90% of the deposited amount, including accrued interest.
• Additional Interest: Interest is calculated daily and credited half-yearly (June/December) at the prevailing term deposit rates. Senior citizens get +0.50%, staff/ex-staff/widows +1.00%, and ex-staff senior citizens +1.50%.
• Premature Withdrawal Facility: The Central Bank of India RD premature withdrawal facility enables customers to access their recurring deposit before it matures. In such instances, a penal interest of 1% is charged.
• Penal Interest: In case of missed monthly installment, for RD tenure up to 5 years, there is a penalty of ₹1.50 per ₹100. For RD tenure of more than 5 years, there is a penalty of ₹2.00 per ₹100.

How to Open a Central Bank of India RD

A Central Bank of India RD can be opened online or at any bank branch. The process is simple and needs only basic account details.

Online Method

You can access an RD at any convenient time using the internet or the Cent app (mobile banking), using the following steps:

• Log In: Log in to the Central Bank of India's internet or mobile banking.
• Select RD Option: Click next to the deposits and select recurring deposit.
• Enter Details: Fill in the instalment amount and tenure.
• Link Account: Choose your Central Bank of India savings or current account for auto-debit.
• Review & Submit: Verify details and confirm the request.
• Confirmation: Receive RD account creation confirmation.

Offline Method

You can easily open an RD account offline by following these steps:

• Branch Visits: Visit the closest bank’s branch.
• Fill Form: Fill in the RD application form.
• Submit Documents: Provide required KYC documents.
• Choose Details: Select the instalment amount and tenure.
• Deposit Initial Instalment: Pay the first monthly instalment.
• Set Instructions: Provide payment or standing instructions.
• Account Activation: The bank opens the RD account and issues confirmation details.

Eligibility Criteria for Central Bank of India RD

Many types of customers open an RD account with the Central Bank of India. These are the criteria given by the bank to open an RD account:

• Individual Account: Any adult individual can open an RD account in their own name.
• Joint Account: Any two or more individuals can open a joint RD account. Every account holder has equal responsibility for paying the installments and also shares the maturity benefit. However, for CENT Surakshit Samriddhi RD, only the primary account holder will get life insurance coverage.
• Minors: A minor can open an RD account with a legal guardian. Minors aged 10 or above who can read and write may also operate the account independently, with a maximum monthly instalment of ₹500 and a maturity value capped at ₹50,000.
• Hindu Undivided Family (HUF): HUFs can open RD accounts in the name of the family.
• Business Entities and Organisations: Private traders, clubs, societies, corporates, professional partnership firms, and other RBI-approved entities may open an RD account with the Central Bank of India.

Key Takeaways

The Central Bank of India offers a range of recurring deposit schemes suitable for both small and large savings. RD interest rates currently range from 5% to 6.25% p.a. for the general public and from 5.50% to 6.75% p.a. for senior citizens. The rates you get depend on the period of saving, which spans from 6 months to 10 years.