Central Bank of India Fixed Deposit Interest Rates

Central Bank of India FD Interest Rates Highlights

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Highest slab rate	7.45% (for 444 days)
For 1 year	6.85%
For 2 years	7.00%
For 3 years	6.75%
For 4 years	6.75%
For 5 years	6.50%
Tax-Saving FD	6.50%

Interest rates as of 13 January 2025

Central Bank of India FD Rates

Fixed Deposit Interest Rates on Domestic Deposits of less than Rs 3 crore w.e.f. 10 August 2024

Tenure	Rate of Interest (% p.a.)
	Regular Citizen	Senior Citizen
7 days to 14 days	3.50	4.00
15 days to 30 days	3.75	4.25
31 days to 45 days	3.75	4.25
46 days to 59 days	4.50	5.00
60 days to 90 days	4.75	5.25
91 days to 179 days	5.50	6.00
180 days to 270 days	6.25	6.75
271 days to 364 days	6.25	6.75
1 year to less than 2 years	6.85	7.35
2 years to less than 3 years	7.00	7.50
3 years to less than 5 years	6.75	7.25
5 years to 10 years	6.50	7.00

Also know: How much interest amount you will get on your deposits using our FD calculator?

Calculate FD returns and interest online using FD calculator

Fixed Deposit Interest Rates on Domestic Single Deposits of Rs 3 crore to Rs 10 crore w.e.f. 10 August 2024

Tenure	Interest Rates (% p.a.)
	Regular Citizen	Senior Citizen
7 days to 14 days	5.25	5.75
15 days to 30 days	5.25	5.75
31 days to 45 days	5.75	6.25
46 days to 59 days	6.00	6.50
60 days to 90 days	6.00	6.50
91 days to 179 days	6.50	7.00
180 days to 270 days	6.75	7.25
271 days to 364 days	7.25	7.75
1 year to less than 2 years	7.00	7.50
2 years to less than 3 years	6.50	7.00
3 years to less than 5 years	6.00	6.50
5 years & above up to 10 years	5.75	6.25

Special Term Deposit Interest Rates

Tenure	Interest Rates (% p.a.) w.e.f. 10 August 2024
Callable	Regular Citizen	Senior Citizen
444 Days	7.45	7.95

Tenure	Interest Rates (% p.a.) w.e.f. 10 August 2024
Non-Callable (For Deposits above Rs. 1 Crore)	Regular Citizen	Senior Citizen
444 days	7.60	8.10

Tenure	Interest Rates (% p.a.) w.e.f. 10 August 2024
Callable	Regular Citizen	Senior Citizen
555 days	7.25	7.75
999 days	6.50	7.00

Tenure	Interest Rates (% p.a.) w.e.f. 10 June 2024
Non-Callable (For Deposits above Rs. 1 Crore)	Regular Citizen	Senior Citizen
555 days	7.40	7.90
999 days	6.65	7.15

*Additional interest of 0.50% is not applicable for NRI senior citizen depositors.

Cent Garima Deposit Scheme Interest Rates w.e.f. 10 August 2023

Tenure	Interest Rates (% p.a.)
	Regular Citizen	Senior Citizen
777 days	7.15	7.65

Cent Green Deposit Scheme Interest Rates w.e.f. 10 August 2024

Tenure	Interest Rates (% p.a.)
	Regular Citizen	Senior Citizen*
1111 days	7.25	7.75
2222 days	7.00	7.50
3333 days	7.25	7.75

*Additional interest of 0.50% is not applicable for NRI senior citizen depositors.

Central Bank of India Tax Saver Deposit (Cent Tax Saving Deposit)

Tenure	Regular Citizens	Senior Citizen
5 years	6.50%	7.00%

Interest Rates on NRE Deposit of less than Rs 3 crore w.e.f. 10 August 2024

Tenure	Interest Rate* (% p.a.)
1 year to less than 2 years	6.85
2 years to less than 3 years	7.00
3 years to less than 5 years	6.75
5 years to 10 years	6.50

Interest Rates on NRE Deposit of Rs 3 crore to Rs. 10 crore w.e.f. 10 August 2024

Tenure	Interest Rate* (% p.a.)
1 year to less than 2 years	7.00
2 years to less than 3 years	6.50
3 years to less than 5 years	6.00
5 years to 10 years	5.75

*Additional interest of 0.50% is not provided to senior citizens under NRE Deposit.

Interest Rates on FCNR (B) Deposits w.e.f. 15 October 2024

Tenure	Interest Rates (% p.a.)
	USD	GBP	EUR	CAD	AUD
1 year to less than 2 years	5.85	4.76	2.00	3.77	3.70
2 years to less than 3 years	4.02	3.26	1.70	3.52	3.50
3 years to less than 4 years	4.02	3.01	1.26	3.27	3.20
4 years to less than 5 years	4.02	3.01	1.26	3.27	3.20
5 years only	4.02	3.01	1.26	3.27	3.20
Overdue deposit	4.85	3.76	1.00	2.77	2.70

RFC (USD) Deposit Interest Rates w.e.f. 15 October 2024

Period of USD deposit	Interest Rate (% p.a.) (HY Comp.)
6 months to less than 12 months & Savings A/c	4.85
Overdue deposits	NIL

Types of Central Bank of India FD Schemes

Central Bank of India Fixed Deposit Schemes for Resident Indians

Cent Garima Term Deposit Scheme

• It is a tenor-specific term deposit scheme that allows depositors to earn a higher rate of interest, which is applicable for term deposit.
• Tenure: Fixed period of 777 days
• Minimum Deposit Amount: Rs 10,000
• Maximum Deposit Amount: Rs 10 crore
• Interest: The bank offers 0.50% additional interest rate to senior citizens. However, under NRE Deposit, this interest benefit will not be applicable to senior citizens.
• Interest Payout Options: At Monthly/ Quarterly intervals or Cumulative type
• Eligibility: Both Resident and Non Resident Indians are eligible to open this term deposit account.
• Premature Withdrawal: Premature withdrawal is allowed. However, penal interest @1% will be charged on withdrawal before maturity irrespective of the deposit amount. In case of an NRE account, no interest will be payable if the deposit is closed before one year. In case the NRE deposit account completes one year but is closed before maturity, penal interest @ 1% will be levied. Moreover, premature withdrawal is not allowed if a loan is availed against the deposit.
• Auto Renewal Facility: Automatic renewal facility is not provided for this term deposit scheme. Hence, on completion of the term, the maturity amount will be transferred to the linked savings or current deposit account of the depositor.
• Demand Loan/Overdraft Facility: Under this term deposit, loan/overdraft facility would be available of up to 90% of the deposit amount. The interest rate applicable would be 1% p.a. above the floating interest rate. In case of MIDR, QIDR, FDR, the interest amount will be credited to the loan account.
• The FD can be opened through Net Banking/Mobile Banking or by visiting the bank branch.

Fixed Deposit Receipt (FDR)

• It is a short-term fixed deposit that allows depositors to earn higher rate of interest, which is applicable for term deposit
• Tenure: 7 days to 120 months
• Deposit Amount: At least Rs 100 and thereafter in the multiples of Rs 100
• Interest: Simple interest is credited in the account at 6-month intervals (in March and September) every year or on maturity of the deposit, whichever is earlier.
• Premature Payment: Prepayment is allowed, however, penal interest @1% will be charged on premature withdrawal of deposit of above Rs 5 lakh. No prepayment penalty is levied on premature withdrawal of deposit up to Rs 5 lakh.
• Loan/Advance against Deposit: Loan facility is available up to 90% of the deposit amount.

Money Multiplier Deposit Certificate (MMDC)

• In this fixed deposit scheme, the interest accrued gets added back to the principal, thereby, increasing your deposits exponentially.
• Tenure: 6 to 120 months
• Deposit Amount: At least Rs 100 and thereafter in the multiples of Rs 100
• Interest: Simple interest is credited in the account at 6-month intervals (in March and September) every year or on maturity of the deposit, whichever is earlier.
• Premature Payment: Payment before maturity is available as per prevailing rules.
• Loan/Advance against Deposit: Loan facility is available.

Monthly Interest Deposit Receipt (MIDR)

• The MIDR scheme offers depositors monthly interest earnings without affecting the principal amount.
• Tenure: 12 to 120 months
• Deposit Amount: At least Rs 5,000 and thereafter in the multiples of Rs 1,000
• Premature Payment: Payment before maturity is available as per prevailing rules.
• Loan/Advance against Deposit: Loan facility is available as per prevailing rules.

Quarterly Interest Deposit Receipt (QIDR)

• The QIDR scheme offers depositors quarterly interest earnings without affecting the principal amount.
• Tenure: 12 to 120 months
• Deposit Amount: At least Rs 5,000 and thereafter in the multiples of Rs 1,000
• Premature Payment: Payment before maturity is available as per prevailing rules.
• Loan/Advance against Deposit: Loan facility is available as per prevailing rules.

Cent Tax Saving Deposit

• Investments under this fixed deposit scheme come with tax benefits of up to Rs 1.5 lakh under Section 80C of Income Tax Act. However, the interest accrued or paid in such deposit is taxable and subject to TDS as per existing rules.
• Tenure: Fixed period of 5 years
• Minimum Deposit Amount: Rs. 100 or multiples thereof
• Maximum Deposit Amount: Rs. 1.5 lakh in a financial year
• Deposit Options: Monthly Interest Deposit, Quarterly Interest Deposit or Reinvestment Plan (Cumulative)
• Premature Payment/Loan Facility: Premature payment and Demand Loan/Overdraft facility is not allowed. The deposit receipt cannot be pledged for any type of loan or as a collateral security for any facility.

Cent Suraksha Deposit

• This FD scheme gives you the liquidity of a Savings Account with the high earnings of a Fixed Deposit.
• In this scheme, the FD account is linked to an existing savings bank account, thus, facilitating automatic reverse sweep when the balance in the linked savings account falls below Rs 10,000 for individual customers.
• The linked FDs will be the same Customer ID and will be for a minimum tenure of one year for savings account customers.
• The FDs will be broken on a Last-In, First-Out (LIFO) basis for reverse sweep.
• The Fixed Deposit will be opened in auto renewal mode.
• The deposit will be renewed for the same tenure as the original tenure.

Cent Super Callable Time Deposit for 444 days

• Tenure: Fixed period of 444 days
• Deposit Amount: Rs. 10,000 to Rs. 10 crore
• Interest Rates: Additional interest of 0.50% will be payable to senior citizens.
• Premature Withdrawal: Depositors can withdraw FD amount prematurely. The applicable rate of interest for the period of deposit will be paid, subject to prevailing rules on premature withdrawal.
• Premature Withdrawal of NRE Deposit: No interest will be paid if the FD is closed within 1 year. Moreover, 1% penal interest will be levied by the bank. Premature withdrawal is also not allowed if the depositor avails loan against it.
• This FD scheme is for both resident and non resident individuals.
• The FD can be opened through Net Banking/Mobile Banking or by visiting the bank branch.

Cent Super Non-Callable Time Deposit for 444 days

• Tenure: Fixed period of 444 days
• Deposit Amount: Rs. 15.01 lakh to Rs. 10 crore
• Interest Rates: Additional interest of 0.50% will be payable to senior citizens and 1% to super senior citizens (resident Indians who are 80 years and above). In case of NRE deposits under the scheme, additional interest benefits are not applicable to senior citizens. 
• Premature Withdrawal: Depositors can withdraw FD amount prematurely. However, it will attract a penalty of 2.5% on the applicable interest rate for the running period of time.
• Premature Withdrawal of NRE Deposit: No interest will be paid if the FD is closed within 1 year. Moreover, 1% penal interest will be levied by the bank. Premature withdrawal is also not allowed if the depositor avails loan against it.
• This FD scheme is for both resident and non resident individuals.
• The FD can be opened through Net Banking/Mobile Banking or by visiting the bank branch.
• Depositors can avail loan/overdraft facilities against the FD scheme.

Cent Super Time Deposit for 555 Days

• Tenure: Fixed period of 555 days
• Deposit Amount: Rs. 10,000 to Rs. 10 crore
• Interest Rates: Additional interest of 0.50% will be payable to senior citizens.
• Interest Payout Options: Monthly/ quarterly/ half yearly intervals or cumulative
• The FD can be opened through Net Banking/Mobile Banking or by visiting the bank branch.

Cent Super Time Deposit for 999 Days

• Tenure: Fixed period of 999 days
• Deposit Amount: Rs.10,000 to Rs.10 crore
• Interest Rates: Additional interest of 0.50% will be payable to senior citizens. In case of NRE deposits, additional interest benefits are not applicable to senior citizens.
• Interest Payout Options: Monthly/ quarterly/ half yearly intervals or cumulative
• The FD can be opened online through Net Banking/Mobile Banking.
• Premature Withdrawal of NRE Deposit: No interest will be paid if the FD is closed within 1 year. Moreover, 1% penal interest will be levied by the bank. Premature withdrawal is not allowed if the depositor avails loan against it.

Cent Non-Callable Time Deposit for 555 and 999 Days

• Type of Deposit: FDR/ MMDC/ QIDR/ MIDR
• Tenure: Fixed period of 555 and 999 days
• Deposit Amount: Rs.15.01 lakh to Rs.10 crore
• Interest Rates: Additional interest of 0.50% will be payable to senior citizens and 1% to super senior citizens (resident Indians who are 80 years and above).
• Premature Withdrawal: Depositors can withdraw FD amount prematurely. However, it will attract a penalty of 2.5% on the applicable interest rate for the running period of deposit.
• Demand Loan/ Overdraft Facility: Depositors can avail loan/overdraft facilities up to 90% of deposit amount. The interest rate levied would be 1% p.a. above the applicable term deposit interest rate.
• The FD can be opened online through Net Banking (Cent Net Banking)/ Mobile Banking (Cent Mobile) or through offline mode by visiting the nearest bank branch.

Cent Green Time Deposit Scheme

• Cent Green Time Deposit Scheme is a tenure specific FD scheme wherein the deposit amount will be used for lending only to projects like renewable energy projects, water or waste management projects, green building projects, projects in smart agriculture, etc. 
• Tenure: Fixed period of 1111 days, 2222 days and 3333 days
• Deposit Amount: Rs. 50,000 to less than Rs. 2 crore
• Interest Rates: Under this FD scheme, the bank offers additional interest rate of 0.20% to 0.25% over and above the ­fixed deposit card rates. Moreover, additional interest of 0.50% will also be payable to senior citizens. Incase of premature withdrawal, only the interest applicable for the period of deposit will be paid, subject to other prevailing rules on premature withdrawal.
• Premature Withdrawal: Depositors can withdraw Green Fixed Deposits prematurely. However, in such a case, the remaining Green Fixed Deposit amount will be converted to a regular fixed deposit. Premature withdrawal of the deposit will also attract a penalty as per the existing norms.
• The FD can be opened through online banking facilities, Net Banking (Cent Net Banking) and Mobile Banking (Cent Mobile).
• Auto renewal facility is not available. Thus, on maturity date, the maturity amount will be credited to the linked account.

Cent Floating Deposit Scheme

• Type of Deposit: MMDC/ MIDR/ QIDR
• Tenure: 1 year to less than 2 years and 2 year to less than 3 years
• Deposit Amount: Rs. 1 Lakh to less than Rs. 2 Crore
• Rate of Interest (Floating):
  

Tenure	Current Repo Rate	Mark-up Rate	Rate of Interest
1 year to less than 2 years	6.50%	0.30	6.80%
2 years to less than 3 years	6.50%	0.35	6.85%

Note: REPO rate reset will be executed on 10th April, 10th July, 10th October and 10th January or as decided by the bank. Deposit account interest reset will start on the completion of 3 months from the date of account opening. Additional interest of 0.50% will be payable to senior citizens.

• Premature Withdrawal: Premature withdrawal is not allowed for up to one year. After one year, depositors can fully or partly withdraw the deposit; however, it will attract a penalty of 1% on the basis of interest rate for the period the deposit remained.
• Demand loan/Overdraft Facility: Depositors can avail loan/overdraft facilities for up to 90% of deposit amount. The interest rate charged would be 1% p.a. over and above the applicable floating interest rate. The interest rate of the loan will be changed as per the prevailing interest rate on the Time Deposit. In case of MIDR and QIDR type of deposit, the interest amount will be credited to the loan account. The Demand Loan/ Overdraft facility can be availed through internet banking/ mobile banking and at the bank branch. Overdraft facility, on the other hand, can be availed only at the branch office. If FD receipt has been taken at the branch, online mode demand loan facility will not be available to the account holder. In this case, the demand loan facility will be available at the bank branch only.

• Set Off: In case the outstanding loan amount along with the accrued interest reaches 95% of the deposit balance, the system will set off the deposit proceeds to the related demand loan or overdraft account. The loan or the overdraft account will be liquidated and the balance (if any) will be transferred to the related Current Account and Savings Account. The demand loan will be closed by way of set off.

In case of overdraft, the drawing power will become zero once set off is in effect. In such a case, the customer has to return the unused cheque leaves to the home bank branch and the bank has to destroy the remaining cheque leaves issued to the account in the system and close the overdraft account.

• Maturity Value: The maturity amount in Cent Floating Deposit Scheme cannot be determined as the interest rate applicable is floating and cannot be pre-fixed.
• Renewal: FD renewal will be allowed as per the depositor’s instruction given at the time of opening of the deposit account. If the depositor gives instructions for renewal, the deposit will be renewed under the same product, else the deposit will be renewed under MMDC product for one year. If the depositor does not want to renew the deposit under the scheme, the maturity amount will be credited to the linked Saving/Current Bank account.
• Digital Transaction: Cent Floating Deposit Scheme can be opened through Cent Net Banking/ Cent Mobile Banking only. Also note that if the deposit receipt is printed at the branch, the depositor will not be allowed to close the FD online. He will have to visit the home branch to close the FD account with the discharged deposit receipt.

Central Bank of India Fixed Deposit Schemes for NRIs and PIOs

CENT FCNR (B) Deposit Scheme

• Tenure: 1 year and up to 5 years
• Fixed Deposit Scheme in: USD, GBP, EUR, CAD & AUD
• Minimum Deposit Amount: 1,000 for USD, GBP & EUR; 5,000 for AUD & CAD
• Premature Withdrawal:
  • In case of auto renewal, the deposit should remain with Bank for at least a year else the interest will not be paid.
  • Penal interest of 1% to be applied (as applicable) if the deposit is closed before maturity after the completion of 1 year
  • Conversion of NRE to FCNR (B) and vice versa before maturity will also attract penalty interest of 1%.

CENT FCNR (B) Premium Plus Deposit Scheme

• This fixed deposit scheme comes with the facility to book forward contract to convert maturity proceeds of FCNR (B) deposit into Indian Rupee (INR)
• FCNR (B) deposit period: 1 year and up to 3 years
• Forward contract tenor: 1 year and up to 3 years
• Minimum Deposit Amount: Rs 10,000 for USD, GBP & EURO
• No exchange margin on booking forward contract. It offers a higher yield by the way of forward premium.
• Waiver of SWIFT charges for FCNR (B) deposit related transactions
• Issuance/Renewal charges on Rupee Platinum Debit Card are free for a lifetime
• No penal interest for premature closure of deposits after 1 year
• On premature withdrawal of FCNR (B) deposit, forward cover cancellation loss or early utilization charges as the case may be will be applicable
• Conversion of NRE to FCNR (B) and vice versa before maturity will not attract any penalty
• The booking of forward contract is optional and the depositor may or any not utilise this facility based on his requirements. Whereas, the other facilities of this scheme will be available to the customer
• The booking of forward contract can be booked any time during the deposit contract period
• After booking of forward contract, if the depositor opts-out utilization of forward contract on maturity and wish to continue with Foreign Currency only, then the depositor has to cancel the forward contract and any gain/loss will be passed to the depositor

Central Bank of India Loan against Fixed Deposit

Central Bank of India customers can avail of the facility of loan against fixed deposit up to 90% of the principal amount and accrued interest. Customers can visit the nearest bank branch to avail the loan facility.

Central Bank of India FD Calculator

Before going for any of the aforementioned fixed deposit schemes with Central Bank of India, check the estimated maturity amount using a FD Calculator at Paisabazaar.com. It’s a free online tool that’s can be used several times for different tenures and fixed deposit interest rates. to get results, users will need to provide a few basic details like deposit amount, tenure and the latest FD interest rates corresponding wit the chosen FD tenure.

FAQs

Q. What is the highest Central Bank of India FD interest rate?

A. The highest fixed deposit interest rate offered by Central Bank of India is 7.45% p.a. for regular individuals for tenure of 444 days.

Q. What is the minimum and maximum tenure for which the customers can open Central Bank of India FD?

A. The minimum and maximum period for which the customers can open Central Bank of India FD is 7 days and 10 years respectively.

Q. Is premature withdrawal facility available for Central Bank of India FD?

A. Yes, premature withdrawal facility available for Central Bank of India FD and penalty of 1% is charged.

Q. What are benefits provided to Senior Citizens under Central Bank of India FD scheme?

A. Central Bank of India offers 0.50% higher interest rate to senior citizens on its fixed deposit schemes.