Interest Rates
3.50% – 6.75%
Time Period
7 days to 10 years
Min - Max Amount
1,000 - No upper limit
Compounding
Quarterly
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Expected Rate of Return
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Invested Amount
₹ 10,000
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Central Bank of India stands as a venerable institution in the nation's financial landscape, embodying a legacy of trust, innovation, and resilience that spans over a century. Established on 21 December 1911 by the visionary Sir Sorabji Pochkhanawala, it holds the distinguished honour of being India's first truly swadeshi bank, wholly owned and managed by Indians during the colonial era.
This pioneering spirit was born out of a fervent desire to foster economic self-reliance amidst the dominance of foreign banks, marking a pivotal moment in the subcontinent's quest for financial independence. Headquartered in the bustling financial hub of Mumbai, Maharashtra, the bank has grown from its modest origins into a robust public sector undertaking, serving millions across urban and rural India.
Over the decades, Central Bank of India has navigated the tumultuous waters of economic upheavals, including the Great Depression, World War II, and the post-independence nationalisation of banks in 1969 and 1980, which integrated it further into the fabric of India's socialist banking framework.
Today, it operates a vast network of over 4,600 branches and 15,000 ATMs, extending its reach to every corner of the country, with a particular emphasis on financial inclusion for the underserved. The bank's commitment to rural development is evident in its sponsorship of 117 Regional Rural Banks, aligning with government initiatives like Pradhan Mantri Jan Dhan Yojana and Mudra Yojana.
Tenure | Regular Rate (p.a.) | Senior Citizen Rate (p.a.) |
7 days to 45 days | 3.50% | 4.00% |
46 days to 90 days | 4.50% | 5.00% |
91 days to 179 days | 5.25% | 5.75% |
180 days to 270 days | 6.25% | 6.75% |
271 days to less than 1 year | 6.25% | 6.75% |
1 year to less than 15 months | 6.50% | 7.00% |
15 months to less than 2 years | 6.70% | 7.20% |
2 years to less than 3 years | 6.50% | 7.00% |
3 years to less than 5 years | 6.25% | 6.75% |
5 years to 10 years | 6.25% | 6.75% |
Note: The data is as of August 7, 2025
Tenure | Regular Rate (p.a.) | Senior Citizen Rate (p.a.) |
7 days to 45 days | 3.25% | 3.75% |
46 days to 90 days | 4.25% | 4.75% |
91 days to 179 days | 5.00% | 5.50% |
180 days to 270 days | 6.00% | 6.50% |
271 days to less than 1 year | 6.00% | 6.50% |
1 year to less than 15 months | 6.25% | 6.75% |
15 months to less than 2 years | 6.45% | 6.95% |
2 years to less than 3 years | 6.25% | 6.75% |
3 years to less than 5 years | 6.00% | 6.50% |
5 years to 10 years | 6.00% | 6.50% |
Note: The data is as of August 7, 2025
Central Bank of India Fixed Deposits (FDs) offer a secure and predictable avenue for savers seeking stable returns in an volatile economic environment. One of the primary features is the quarterly compounding of interest, which enhances the effective yield over the tenure, making it particularly advantageous for long-term investors.
Benefits abound for diverse demographics: senior citizens receive an additional 0.50% interest rate, boosting their retirement corpus, while staff members enjoy further incentives. The FDs are insured under the Deposit Insurance and Credit Guarantee Corporation (DICGC) up to ₹5 lakh per depositor, ensuring capital safety. Loan facilities against FDs, up to 90% of the deposit value, provide emergency liquidity without disrupting the principal. Moreover, the bank's digital platforms enable seamless online openings, reducing paperwork and enhancing convenience.
The standard Domestic Term Deposit forms the bedrock of the bank's deposit portfolio. This scheme allows investments from seven days to ten years, with interest rates calibrated to tenure and depositor category, ensuring liquidity and yield balance. Compounding quarterly, it suits conservative investors prioritising capital preservation.
For those eyeing enhanced yields, the Cent Super 555 Days scheme emerges as a flagship offering. Locked for precisely 555 days, it guarantees 7.25% p.a. for regular customers, escalating to 7.75% for seniors, a premium over standard rates. Premature withdrawal incurs a 1% penalty post the first year, enforcing discipline, yet it permits loans against the deposit. This non-callable variant appeals to mid-term planners, blending higher returns with the bank's AAA safety net.
Complementing this is the Cent Super Non-Callable Time Deposit for 444 Days, another specialised tenure product yielding 7.00% p.a. for generals and 7.50% for seniors. Its rigidity, no withdrawals before maturity, rewards patience, ideal for those with surplus funds earmarked for specific goals like education fees. The scheme's appeal lies in its simplicity: no frills, just assured growth, with nomination facilities for seamless succession.
The Cent Floating Deposit Scheme introduces dynamism to the mix, linking rates to the Reserve Bank of India's repo rate plus a 0.30% markup. As of early 2025, with repo at 6.25%, it offered 6.55% for one-to-two-year tenures, adjusting bi-annually to mirror monetary policy shifts. This floating mechanism shields against rate cuts, benefiting investors in a declining interest cycle, while capping upside in rising ones. Available in monthly or quarterly interest payout modes, it caters to income-dependent retirees.
Environmental consciousness finds expression in the Cent Green Time Deposit Scheme, incentivising sustainable investments with an extra 0.50% to 0.75% over base rates for tenures of one to five years. Proceeds partly fund green projects, aligning personal finance with ecological stewardship, a nod to ESG principles increasingly vital for millennial investors.
Women-centric empowerment shines through the Cent Garima Scheme, exclusively for female depositors, offering 7.15% p.a. (annualised yield 7.34%) on deposits up to ₹10 crore for 777 days. It features monthly/quarterly payouts or cumulative options, with overdraft facilities, fostering financial independence. Minimum entry at ₹10,000 makes it accessible, underscoring the bank's gender-inclusive ethos.
For recurring savers, the Recurring Deposit Scheme (RDS) mirrors FD stability, accruing interest at term deposit rates on daily balances, credited half-yearly. Tenures span six to 120 months, with auto-debits ensuring disciplined saving, perfect for salaried individuals building emergency funds.
Bulk depositors access tailored wholesale schemes for ₹3 crore-plus, where rates are bespoke, often 0.25% below card rates, with negotiation leeway. NRE/FCNR variants for non-residents repatriate funds freely, at competitive global benchmarks.
Short-term fixed deposits at Central Bank of India cater to investors needing quick access and secure returns for temporary fund parking. These tenures, starting from a minimum of ₹1,000, are ideal for emergency reserves and benefit from DICGC insurance up to ₹5 lakh. Rates begin at 3.50% p.a. for 7 to 14 days for the general public, rising to 4.00% p.a. for seniors, and gradually increase to 6.25% p.a. and 6.75% p.a. respectively by 271 to 364 days. This progressive structure encourages slightly longer holds within the year while maintaining high liquidity.
Medium-term fixed deposits balance yield and flexibility for goals like education funding or home purchases. Rates reach up to 7.00% p.a. for general depositors and 7.50% p.a. for seniors in the two to three years slab. The one to two years tenure offers 6.75% p.a. for regulars and 7.25% p.a. for seniors, with quarterly compounding boosting effective returns. Special schemes like Cent Garima for women provide 7.15% p.a. on 777 days, supporting income generation.
Long-term fixed deposits secure rates against market volatility for retirement or legacy planning. The three to five years tenure yields 6.50% p.a. for general public and 7.00% p.a. for seniors. For five to ten years, rates hold at 6.25% p.a. and 6.75% p.a., with tax-saving options under Section 80C offering deductions up to ₹1.5 lakh. Schemes like Cent Green add 0.50% to 0.75% premiums for sustainable investments up to 3333 days.
| Tenure | Institution Name | Interest Rate (% p.a.) |
|---|---|---|
| 15 months to less than 2 years | 6.70› |
 | 12 months to less than 24 months | 7.75› |
 | 365 days/ One Year | 6.20› |
 | 1 year to less than 2 years | 6.60› |
 | 1 year 11 days to 2 years | 7.00› |
The data is as of August 7, 2025
Investing in a Central Bank of India Fixed Deposit is a straightforward process, blending traditional branch services with modern digital interfaces for utmost convenience. For online enthusiasts, the journey commences via the bank's robust Cent Online portal or the Cent Mobile application, accessible round-the-clock. Existing customers must log in using their user ID and password, derived from internet banking credentials. Navigate to the 'Deposits' section, select 'Open Fixed Deposit', and input details: deposit amount (minimum ₹1,000), preferred tenure (7 days to 10 years), interest payout mode (monthly, quarterly, or cumulative), and nominee information.
Branch-based openings suit those preferring personal touch. Visit any of the 4,600+ branches with KYC documents; a relationship manager assists in form completion, rate quotation, and deposit booking via cash, cheque, or transfer. For bulk investments over ₹3 crore, dedicated corporate desks negotiate bespoke terms.
Eligibility for a Central Bank of India FD account is broad and inclusive, encompassing individuals aged 18 and above, including resident Indians, NRIs, and OCIs. Minors can open accounts via guardians until majority. Joint accounts permit up to three holders, with 'Either or Survivor' or 'Jointly' modes. Hindu Undivided Families (HUFs), trusts, societies, partnerships, companies, and government bodies qualify, subject to RBI norms. Senior citizens (60+ years) and super seniors (80+) enjoy rate premiums. Staff and ex-staff access enhanced incentives. No income proof required for retail; bulk depositors need board resolutions. KYC compliance is mandatory, barring blacklisted entities. This liberal framework promotes widespread participation in formal savings.
Opening a Central Bank of India FD demands standard KYC documents for seamless verification. Individuals furnish proof of identity and address: Aadhaar card, PAN card, passport, voter ID, or driving licence. For address, utility bills (electricity/telephone not older than three months), bank statements, or registered rent agreements suffice. Senior citizens submit pension orders or maturity proofs alongside. NRIs provide passport, visa, and overseas address evidence. Joint accounts replicate documents per holder.
HUFs need PAN, declaration, and karta's ID/address proofs. Trusts/societies proffer registration certificates, bylaws, and authorised signatories' KYC. Companies/partnerships require incorporation certificates, MOA/AOA, board resolutions, and PAN. Minors' guardians supply their KYC plus birth certificate. Digital e-KYC via Aadhaar OTP streamlines, waiving physical copies. The bank retains rights for additional scrutiny under PMLA. These requisites ensure regulatory adherence while expediting openings.
Interest earned on Central Bank of India Fixed Deposits is taxable as 'Income from Other Sources' under the Income Tax Act, added to the assessee's total income and slab-rated—from 5% to 30% plus cess. No exemptions apply barring Section 80TTB for seniors, deducting up to ₹50,000 annually on interest from all deposits. For generals, ₹40,000 threshold triggers TDS at 10%; seniors enjoy ₹50,000. Rates escalate to 20% sans PAN submission.
The bank deducts TDS quarterly if projections exceed limits, issuing Form 16A for claims. Cumulative options defer tax to maturity, aiding planning. Tax-saving FDs (five-year lock-in) qualify for 80C deductions up to ₹1.5 lakh, but interest remains taxable. Advance tax payers can submit Form 15G/H (under ₹2.5 lakh income) to avert TDS. Budget 2025 enhancements, like simplified ITRs, ease compliance. Investors should consult CAs for optimal structuring, leveraging ELSS hybrids if equity exposure desired. This framework balances revenue with saver incentives, promoting transparency.
Premature closure of Central Bank of India FDs is permissible post seven days, subject to penalties preserving no-loss-no-gain principle. For tenures under one year, no interest accrues if closed prematurely; beyond, applicable rate minus 1% penalty applies. Non-callable schemes like Cent Super 444/555 days prohibit early exit barring deaths or court orders, levying 2% extra. Seniors' medical emergencies waive penalties. Closure via branch or online, crediting net proceeds post-TDS. This policy deters volatility while offering flexibility.
