Cent 777 Deposit account is a term deposit account that pays interest monthly/quarterly/half yearly or annually depending on the option chosen by the depositor. The unique feature of the deposit is that its tenure period of 777 days.
Given below are the features of Cent 777 Deposit Scheme
Minimum - Rs.1,000
Maximum- Below Rs.1 crore
|Rate of Interest||6.45%. Senior citizens are provided an additional rate of interest.|
|Period||The deposit will be accepted exactly for a period of 777 days and not for a longer or shorter term than that|
|Loan against Cent Deposit Benefit Scheme||Not available|
|Nomination (if any)||There is no nomination under the scheme|
|Auto Renewals||Not available|
Given below is the eligibility criteria for Cent 777 Deposit Scheme by Central Bank of India
Currently, the rate of interest offered under the scheme is 6.45%. The interest is paid in a cumulative type or at monthly, quarterly/ half yearly intervals.
The minimum amount that needs to be deposited in the account is Rs.1,000.
The period of deposit for Cent 777 deposit account is 28 days.
The investor has the option of making a pre mature withdrawal before the period of deposit which is 777 days. However, the interest paid at the time of pre mature withdrawal will be in accordance with the instruction of the bank.
One can deposit any amount up to Rs.1 crore in the account.
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