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    Cent 555 Deposit Scheme

    Institution Name
    Deposit Amount Range
    Tenure Range
    Interest Rate
    Up to ₹1Cr
    7 Days to 10 Years
    5% - 8.05% Quarterly compounding
    Response Time Within 30 minutes
    Features
    Documents
    Good to Know
    NRI - FD
    Up to ₹1Cr
    1 Year to 10 Years
    7.25% - 7.65% Quarterly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know
    Fixed Deposit BYTES FROM OUR KITCHEN

    Central Bank of India is a government owned bank and one of the oldest and largest banks in India. The bank is based in the financial capital of India, Mumbai. The bank offers a wide range of financial products including deposit accounts. Cent 555 Deposit account is a term deposit account with a tenure period of 555 days. Interest is compounded quarterly withy this scheme

    Eligibility Criteria for applying for Cent 555 Deposit Scheme

    Given below is the eligibility criteria for Cent 555 Deposit Scheme by Central Bank of India

    • Must be a resident of India
    • Senior citizens are eligible
    • Should be able to make a minimum deposit of Rs.1,000

    Features of Central Bank of India Cent 555 Deposit Scheme

    Given below are the features of Cent 555 Deposit Scheme

    Account Type

    Single and joint account

    Amount

    Min- Rs.1,000

    Max- Any amount less than Rs.1 crore

    Rate of Interest

    The interest will be payable monthly/Quarterly/half yearly interval type or cumulative depending on the option chosen by the depositor

    Period

    The deposit will be accepted exactly for a period of 555 days and not for a longer or shorter term than that

    TDS

    Not available

    Loan against Cent Deposit Benefit Scheme

    Loan is available under this scheme.

    Nomination (if any)

    There is no nomination under the scheme

    Auto Renewals

    Not available

    Bank of India Cent 555 Deposit Scheme Given below are the features of Cent 555 Deposit Scheme Account Type Single and joint account Amount Min- Rs.1,000 Max- Any amount less than Rs.1 crore Rate of Interest The interest will be payable monthly/Quarterly/half yearly interval type or cumulative depending on the option chosen by the depositor Period The deposit will be accepted exactly for a period of 555 days and not for a longer or shorter term than that TDS Not available Loan against Cent Deposit Benefit Scheme Loan is available under this scheme. Nomination (if any) There is no nomination under the scheme Auto Renewals Not available

    Cent 555 Deposit Scheme Interest Rates

    The rate of interest offered for Cent 555 Deposit scheme depends on the amount deposited in the scheme. One can choose from monthly/quarterly/ half yearly and cumulative type of interest payment.

    *Interest rates are subject to change without prior warning. Contact the bank for further information. Mentioned Rates are as of December 2015.

    Cent 555 Deposit Scheme by Central Bank of India FAQs

    1. What is the minimum amount that needs to be deposited in Cent 555 Deposit account?

      The minimum amount that needs to be deposited in the account is Rs.1,000

    2. What is the period of deposit for Cent 555 deposit account?

      The period of deposit for Cent 555 deposit account is 28 days.

    3. Is pre mature withdrawal allowed with Cent 555 deposit?

      The investor has the option of making a pre mature withdrawal before the period of deposit which is 555 days. However the interest paid at the time of pre mature withdrawal will be in accordance with the instruction of the bank.

    4. What is the maximum amount that can be deposited?

      One can deposit any amount up to Rs.1 crore in the account.

    Useful Information on Central Bank of India Fixed Deposit

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