The Central Bank of India offers fixed deposit accounts, providing an opportunity for individuals to commit a specific sum of money for a predetermined period at a fixed interest rate. This is a low risk investment that ensures capital protection but also guarantees returns on secured investments.
The Central Bank of India FD rates start from 3.50% up to 7.00% p.a. for regular citizens and offers a higher interest rate to its senior citizen customers at 0.50% p.a. The bank offers a wide range of fixed deposit schemes at competitive rates that customers can benefit from, let’s take a look at the different FDs and Central Bank FD rates.
Central Bank of India FD Rates 2024 (Below 2 Crores)
The following table portrays the different CBI FD rates applicable to various tenures for domestic deposits below Rs. 2 crores.
| FD Tenures | Interest Rates % (p.a.) General Public |
Annualised Yield |
|---|---|---|
| 7 days - 14 days | 3.50% | 3.50% |
| 15 days - 30 days | 3.75% | 3.75% |
| 31 days - 45 days | 3.75% | 3.75% |
| 46 days - 59 days | 4.50% | 4.50% |
| 60 days - 90 days | 4.75% | 4.75% |
| 91 days - 179 days | 5.00% | 5.00% |
| 180 days - 270 days | 6.00% | 6.14% |
| 271 days - 364 days | 6.25% | 6.40% |
| 1 year - less than 2 years | 6.75%% | 6.92% |
| 2 years - less than 3 years | 7.00% | 7.19% |
| 3 years - less than 5 years | 6.50% | 6.66% |
| 5 years and above up to 10 years | 6.25% | 6.40% |
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*Note- The interest rates are subject to change. Please check the Central Bank of India’s official website for the latest information.Central Bank of India Senior Citizen FD Rates
The Central Bank of India FD rates for senior citizens for deposits under 2 crores is given in the table below:
| FD Tenures | Interest Rates % (p.a.) Senior Citizens |
Annualised Yield |
|---|---|---|
| 7 days - 14 days | 4.00% | 4.00% |
| 15 days - 30 days | 4.25% | 4.25% |
| 31 days - 45 days | 4.25% | 4.25% |
| 46 days - 59 days | 5.00% | 5.00% |
| 60 days - 90 days | 5.25% | 5.25% |
| 91 days - 179 days | 5.50% | 5.50% |
| 180 days - 270 days | 6.50% | 6.66% |
| 271 days - 364 days | 6.75% | 6.92% |
| 1 year - less than 2 years | 7.25% | 7.45% |
| 2 years - less than 3 years | 7.50% | 7.71% |
| 3 years - less than 5 years | 7.00% | 7.19% |
| 5 years and above up to 10 years | 6.75% | 6.92% |
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*Note- The interest rates are subject to change. Please check the Central Bank of India’s official website for the latest information.Central Bank of India Fixed Deposit Rates (Above 2 Crores)
CBI offers FDs for deposit amounts of ₹2 crores up to ₹10 crores. These CBI fixed deposit rates are given in the table below:
| FD Tenures | Interest Rates (p.a) General Public |
Interest Rates (p.a) Senior Citizens |
|---|---|---|
| 7 days - 14 days | 5.00% | 5.50% |
| 15 days - 30 days | 5.00% | 5.50% |
| 31 days - 45 days | 5.50% | 6.00% |
| 46 days - 59 days | 5.75% | 6.25% |
| 60 days - 90 days | 5.00% | 5.50% |
| 91 days - 179 days | 6.00% | 6.50% |
| 180 days - 270 days | 6.50% | 7.00% |
| 271 days - 364 days | 6.75% | 7.25% |
| 1 year - less than 2 years | 6.85% | 7.35% |
| 2 years - less than 3 years | 6.25% | 6.75% |
| 3 years - less than 5 years | 5.75% | 6.25% |
| 5 years and above up to 10 years | 5.50% | 6.00% |
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*Note- The interest rates are subject to change. Please check the Central Bank of India’s official website for the latest information.Central Bank of India Special FD Rates
The Central Bank of India offers special fixed deposits with fixed tenures at attractive interest rates, these are:
| Tenure | General Public Interest Rate | Senior Citizen Interest Rate |
| 444 Days | 7.10% p.a. | 7.60% p.a. |
| 999 Days | 6.50% p.a. | 7.00% p.a. |
| 555 Days | 7.25% p.a. | 7.75% p.a. |
Central Bank of India 444 days scheme Interest Rate
The interest rate on a 444 day FD deposit from Central Bank of India is 7.10% with annualised yield of 7.29% for regular citizens. On the other hand, the Central Bank of India FD rates for senior citizens 444 days period is 7.60% p.a. with annualised yield of 7.82%.
Cent Garima Deposit Scheme
This Central Bank of India FD scheme is an FD with a fixed booking period. The tenure and interest rate for this scheme is given in the table below:
| Tenure (Days) | Interest Rate |
| 777 | 7.15% p.a. |
Cent Green Deposit Scheme
This is a special fixed deposit scheme where the deposited amount is used for lending to renewable energy projects, green building projects, etc. It offers the following fixed tenures along with the respective interest rates:
| Tenure (Days) | Interest Rate |
| 1111 | 7.00% p.a. |
| 2222 | 6.75% p.a. |
| 3333 | 7.00% p.a. |
Calculate your potential maturity amount with Central Bank FD Calculator!
Our user-friendly FD calculator breaks down your maturity value into principal and interest, giving you a quick and clear view of your gains. Try this Central Bank of India FD Calculator now for a quick calculation of your return on investment!
Central Bank of India FD Rates for NRI
The Central Bank of India offers fixed deposits for Non-resident Indians. The Bank offers NRE and FCNR accounts that NRIs can benefit from, offering depositors attractive interest rates.
| Tenure | NRE Deposits Rates (Less than ₹2 Cr) | NRE Deposits Rates (₹2 Cr - ₹10 Cr) |
| 1 year - less than 2 years | 6.75% p.a. | 6.85% p.a. |
| 2 years - less than 3 years | 7.00% p.a. | 6.25% p.a. |
| 3 years - less than 5 years | 6.50% p.a. | 5.75% p.a. |
| 5 years above up to 10 years | 6.25% p.a. | 5.50% p.a. |
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Features & Benefits of Central Bank of India Fixed Deposit
The Central Bank of India offers Fixed Deposits with many features and benefits, making FDs a favoured choice for those seeking stable and reliable returns. The features and benefits of CBI FD are:
- The bank offers diverse investment options with competitive interest rates.
- You can deposit a minimum amount of ₹100.
- The Central Bank FD plan offers flexible tenure options ranging from 7 days to 10 years.
- Nomination facility is available, ensuring a smooth transfer process when required.
- Premature and partial withdrawals are allowed with applicable penalties.
- Depositors can also opt for a loan of up to 90% the deposit amount in case of emergency.
- Special benefits for senior citizens and ex-staff members are offered by the bank in terms of higher interest rates for FDs.
- CBI Bank offers FD accounts to firms, partnerships, charitable institutions, local businesses, institutions and more.
- You can conveniently open a CBI FD account through Cent Net banking or Cent Mobile App.
Central Bank of India FD Account Eligibility
The eligibility requirements for opening a Central Bank of India FD account are:
- Must be individuals or joint account holders
- Hindu Undivided Families (HUFs)
- Firms
- Partnerships
- Sole proprietorships
- Non-resident Indians
- Charitable institutions
- Educational institutions
Documents Required to Open Central Bank of India FD
Several documents are required to open an FD with Central Bank of India, these are:
- Identity Proof documents: Passport, Voter ID, PAN card, Driving licence, Photo ration card, Government ID card, Senior Citizen ID card.
- Address Proof documents: Passport, Electricity Bill, Telephone Bill, Certificate issued by Post Office, Bank Statement with Cheque.
- Passport Size Photograph
Premature Closure of Central Bank of India Fixed Deposit
Having a Central Bank FD implies keeping your investments locked in for a specific period. However, emergencies can occur and financial needs may require you to withdraw funds or prematurely close the FD account. Premature closure can incur a 1% penalty, for which senior citizens are exempted.
Types of Central Bank of India Fixed Deposits
The Central Bank offers a variety of fixed deposits with attractive interest rates and various booking periods. Below is an overview of all the different types of FDs offered along with their features:
Cent Garima Term Deposit Scheme
This scheme is offered to both Indian citizens and NRIs for a special tenure of 777 days. You can deposit any amount between ₹10,000 to ₹10 Crore at an interest rate of 7.55% p.a. Loan and overdraft facility is available, however, there will be no auto-renewal option for this scheme.
Fixed Deposit Receipt (FDR)
This is a short term deposit where Indian citizens including minors above 10 years of age, blind persons, less educated persons, firms, HUFs etc are eligible. The minimum deposit that a depositor can make is ₹100 for a tenure of 7 to 120 days. For this scheme, TDS will be deducted as per the Income Tax regulations.
Money Multiplier Deposit Certificate (MMDC)
This is an FD scheme where the interest gained gets added back to the principal amount, giving you a higher interest than the predetermined one. You can start depositing into this account with a minimal amount of ₹100 at a tenure of 6 months to 120 months. Premature and partial withdrawal as well as loan facility is available with this scheme.
Monthly Interest Deposit Receipt (MIDR)
This is a CBI FD scheme where you can earn monthly interest without it affecting the principal amount. The minimum deposit for this scheme is ₹5000 for a booking period of 12 months to 120 months. This scheme also allows loans against FD and premature withdrawal.
Quarterly Interest Deposit Receipt (QIDR)
This scheme offers quarterly interest payout without it affecting the principal amount. The minimum deposit amount is ₹ 5000 for a tenure that ranges from 12 months to 120 months.
Cent Tax Saving Deposit:
This tax saving FD deposit is especially dedicated to individuals and HUFs who are income tax assessee having a Permanent Account Number. The tenure for this account is fixed at 5 years with o partial or premature withdrawal allowed. Depositors can invest a minimum amount of ₹100 to a maximum amount of ₹1,50,000
Cent Suraksha Deposits
This fixed deposit scheme consists of Cent Suraksha Deposit (PMSBY) and Cent Suraksha Deposit Yojana (PMSBY and PMJJBY). Individuals, proprietorships, partnerships, institutions, clubs, trusts, etc who are eligible under the PMSBY and PMJJBY scheme can open this account. Customers or a Giftee can deposit a Gift Cheque or DD for an amount of ₹201 or ₹5001 into their savings account. On maintaining the premium for the first and second year, ₹177 (in case of ₹201) and ₹4317(in case of ₹5001) will be transferred to the Cent Suraksha Deposit(PMSBY) or Cent Suraksha Deposit (PMJJBY). The tenure of deposit is 5 - 10 years and TDS is applicable as per the regulations.
Cent Super Callable Time Deposit for 444 Days
This CBI FD is for a special tenure of 444 days for deposit amounts between ₹10,000 to ₹10 Cr. Indian citizens and NRIs are eligible for account opening at an interest rate of 7.35% p.a. Premature withdrawal is allowed.
Cent Super Non-Callable Time Deposit for 444 Days
This Central Bank of India FD scheme is for deposit amounts that are above ₹1 Cr and up to ₹10 Cr. Indian citizens and NRIs are eligible to open an account under this scheme. Auto-renewal facility is not available for this FD scheme.
Cent Super Time Deposit for 555 Days
This scheme allows all types of customers to open an account at a minimal amount of ₹10,000 up to ₹10 Cr. The interest rate for this scheme is 7.25% p.a. with additional interest for senior and super senior citizens.
Cent Non-callable Time Deposit for 555 and 999 Days
This is a special fixed deposit scheme for amounts above ₹1 Cr to ₹10 Cr. The interest rate for the period of 999 days is 6.65%. Furthermore, the scheme also offers overdraft and loan facilities.
Cent Super 999 Days
This FD scheme is accepted for a period of 999 days for amounts of ₹10,000 to ₹10 Cr at an interest rate of 6.25% p.a. It also offers the option of monthly, quarterly, half yearly or cumulative interest payout.
Cent Green Time Deposit Scheme
This special fixed deposit scheme is offered at fixed tenures of 1111, 2222 and 3333 days. Depositors can invest a minimum amount of ₹50,000 to a maximum amount of ₹1,99,99,999 which is then used to lend to renewable energy projects, green building projects and projects in smart agriculture, waste or water management, etc.
The Cent Green Time Deposit account can only be opened online through Cent Net Banking or Cent Mobile. In case of partial or premature withdrawal the account will cease to be a Green Fixed Deposit, it will be converted into a normal FD. Auto-renewal feature is not available for this FD scheme.
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Frequently Asked Questions
The current FD interest rates offered by the Central Bank of India ranges between 3.50% to 7.00% p.a. to regular citizens for deposits of below ₹2 Cr.
The minimum deposit required for CBI FD is ₹100. However, the amount will depend on the FD scheme you choose.
Yes, senior citizens enjoy a higher interest rate of 0.50% p.a.
Yes, a premature withdrawal facility is available for Central Bank of India FD.
Senior citizens enjoy a higher interest rate of 0.50% p.a. above the regular interest rates, they are also not charged a penalty fee for premature withdrawal of the account.
The Central Bank of India senior citizen FD rates range from 4.00% to 7.50% p.a. on deposit amount below ₹2 Cr.
The FD tenures in CBI is between 7 days to 10 years.
It will take approximately 10 years for an FD account to double, however, it also depends on the interest rate and tenure you choose.
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