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  • Cent Aspire Deposit Scheme

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  • 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 Aspire Deposit account is a fixed deposit account that offers an attractive rate of interest and comes in three variants. A free Aspire credit card will be issued along with Cent Aspire Deposit account.

    Eligibility Criteria for applying for Cent Aspire Deposit Scheme

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

    • Must be a resident of India
    • Senior citizens are eligible
    • The individual should be capable enough to make a minimum deposit of Rs.1 crore

    Features of Cent Aspire Deposit Scheme

    Given below are the features of Cent Aspire Deposit Scheme

    Account Type

    Single and joint account is available under this plan

    Amount

    Min- Rs.1 crore

    Max- There is no cap on the maximum amount that can be deposited in this account

    Rate of Interest

    The rate of interest offered on this scheme will be according to to the prevailing card rate. Senior citizens and staff will be paid additional interest

    Period

    Min-1 year and above in multiples of three months

    Max-10 years

    TDS

    Not available

    Loan against Cent Deposit Benefit Scheme

    No loan or overdraft will be sanctioned against this deposit plan

    Nomination (if any)

    Nomination is available under this plan

    Auto Renewals

    All deposits under the scheme will be under auto-renewal mode. They will be renewed for a similar period on maturity of deposit, so that there is no loss of interest to the customer. Auto renewal is mandatory.

    Cent Aspire Deposit Scheme Interest Rates

    Central Bank of India offers a rate of interest of 6.40% on its Cent Aspire Deposit scheme for tenures ranging from 28 days to 179 days. There are no special rates offered for senior citizens. The rate of interest offered is uniform.

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

    Cent Aspire Deposit Scheme FAQs

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

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

    2. What is the lock in period for Cent Aspire deposit account?

      The lock in period for Cent Aspire deposit account is 28 days.

    3. Is there a penal interest charged on premature withdrawal after 28 days (lock in period)?

      There is no penal interest charged on premature withdrawal after the lock in period.
    4. What are the consequences if one makes a withdrawal before 28 days?

      There will be no interest paid whatsoever on premature withdrawals before the completion of 28 days from the date of initiation of the account.

    5. Does the bank offer special interest rates for senior citizens for Cent Aspire Deposit account?

      The bank does not offer any special rates for senior citizens for Cent Aspire Deposit account.

    Useful Information on Central Bank of India Fixed Deposit

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    Cent Aspire Deposit Scheme Reviews

    • Central Bank of India Fixed Deposit
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have done fixed deposit on CENTRAL BANK OF INDIA an year ago, i did not face any issue in creating account. They have given me limited tenure period, i use to pay my payment through my credit card of same bank, now i have withdrawn my deposit. I got good interest rate so far my experience was good.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Apr 15, 2019
    • Central Bank of India
      Central Bank of India Fixed Deposit
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I deposited 50K as an FD in Central Bank of India. I haven't withdrawn the deposit and they provides annual interest for the FD. It was easy to start the FD and they also gave me a credit card based on the fixed deposit. Overall it has been a easy process opening FD with the Central Bank of India.
      Was this review helpful? 11
      , chennai
      Reviewed on Jun 25, 2018
    • Central Bank of India Fixed Deposit
      "Good Returns"
      0.5 5.0/5 "Blown Away!"
      I had this Fixed Deposit with Central Bank and they gave me 9% Interest over my investment and I took the Deposit for 3 years. Eventually I got good returns with them. Unfortunately, now they have reduced the interest rate to 6-6.5%. Another good thing about the FD was that I was able to take money before maturity period also.
      Was this review helpful? 7
      , ahmedabad
      Reviewed on Nov 28, 2017
    • Central Bank of India Fixed Deposit
      "Good returns"
      0.5 3.0/5 "Satisfactory"
      I deposited Fixed Deposit in two Banks some 3 years back and this is one of those two. Their Fixed Deposit account is pretty good and does the job fantastically. The rate of interest 6.5% is a little less compared to market standard, but then again the risk factors in this Bank are literally zero.
      Was this review helpful? 1
      , new delhi
      Reviewed on Nov 25, 2017
    • Central Bank of India Fixed Deposit
      "CBI is the best bank for Fixed Deposit"
      0.5 4.5/5 "Excellent!"
      HI! This is Santosh, I had been using from last 8 years with best service without any issue. This Bank Fixed Deposit rate of interest is higher then other banks. The Banking and services are good, There is no Fixed deposit breaking charges. I will recommend this Bank for the Best FD services.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Jul 18, 2017
    • Central Bank of India Fixed Deposit
      "Fund transfer"
      0.5 0.5/5 "Unacceptable"
      The worst banking system I have ever seen. if i want to transfer amt to other bank through IFSC they can't detect the bank or automatically logged out .if I want current statement they can't.net banking automatically logged out.if i go for pass book entry server down problem. if I go to ATM only 2k available etc...
      Was this review helpful? 5
      , kolkata
      Reviewed on Jun 01, 2017
    • Central Bank of India Fixed Deposit
      "deposite cash"
      0.5 4.5/5 "Excellent!"
      may i deposite 2lacks in once transection. i hope that is central bank of india.if i can deposite, i hard that CBI bank are very nice,cool,great. so i select this bank for saving into my accountCentral bank of India is giving good interest rate for the fixed.
      Was this review helpful? 2
      , new delhi
      Reviewed on Oct 08, 2016
    • Central Bank of India Fixed Deposit
      "CENTRAL BANK OF INDIA FD"
      0.5 5.0/5 "Blown Away!"
      Central bank of India is giving good interest rate for the fixed deposit for the minimum lock in period of one year and 4% - 5% interest rate for the minimum of three months. There is no activation charges. They are very quick in responding to their customers.
      Was this review helpful? 16
      , bikaner
      Reviewed on Aug 09, 2016
    • Central Bank of India Fixed Deposit
      "Good rate "
      0.5 3.0/5 "Satisfactory"
      Central bank of India is giving 8% interest rate for the fixed deposit for the minimum lock in period of one year and 4% - 5% interest rate for the minimum of three moths. There is no activation charges. I visited the bank t o avail the facility but they took much time to give the response. .
      Was this review helpful? 9
      , ahmedabad
      Reviewed on Feb 22, 2016
    • Central Bank of India Fixed Deposit
      "Best"
      0.5 5.0/5 "Blown Away!"
      I am having the fixed deposit account with the Central bank of India. Interest rate was around 7.75% and it will be compounded for every quarter of the year. The minimum lock in period is nil with them. Customer service is best with them and online banking facilities too.
      Was this review helpful? 12
      , coimbatore
      Reviewed on Feb 04, 2016
    • Central Bank of India Fixed Deposit
      "Moderate.."
      0.5 3.0/5 "Satisfactory"
      I had fixed deposit for two lakhs but I closed that deposit. As I used that amount to buy a new home. I did not pay any penalty to break the policy. Staff members of Central Bank of India are not customer friendly and they are not treating well the customers.
      Was this review helpful? 10
      , ahmedabad
      Reviewed on Jan 30, 2016
    • Central Bank of India Fixed Deposit
      "better..."
      0.5 4.0/5 "Great!"
      Saving account is there at Central Bank of India so I preferred for fixed deposit. I believe the rate for deposit is 7.5% to 8%. On my convenient time I can close the deposit and definitely the bank will deduct some penalty for it. Nationalized banks will be better for deposits.
      Was this review helpful? 7
      , ghaziabad
      Reviewed on Jan 22, 2016
    • Central Bank of India Fixed Deposit
      "Excellent !!!!!"
      0.5 5.0/5 "Blown Away!"
      Central bank of India gave 8.75% for the fixed deposit with the minimum lock in period of 7 days to 10 years. Minimum amount to deposit is Rs.5000. No penalty in case we break the plan . We can active the plan through online.After the maturity period the amount will be deposit to the account.
      Was this review helpful? 11
      , sagar
      Reviewed on Oct 27, 2015
    • Central Bank of India Fixed Deposit
      "Good Bank"
      0.5 4.0/5 "Great!"
      I have a fixed deposit with Central Bank of India. The services are good when compared to other banks. Earlier I was getting 9% of interest rate and now as per RBI rules it is 8%. There are no charges for this account. I been using this account for the last four months. The services has been good so far.
      Was this review helpful? 8
      , vijayawada
      Reviewed on Sep 08, 2015
    • Central Bank of India Fixed Deposit
      "Give Good Offers..."
      0.5 1.0/5 "Really Bad"
      I have a fixed deposit running in central bank of India. I have taken this for my child. It was easy to start a FD with them. The total maturity period is 3 years and I have completed 2 years. The rate of interest they are offering is less. Once if the FD is matured it cannot be continued, it must be broke and we have to again apply for a different one. It is a drawback. Apart from that everything is good.
      Was this review helpful? 6
      , chennai
      Reviewed on Aug 26, 2015
    • Central Bank of India Fixed Deposit
      "Better"
      0.5 4.0/5 "Great!"
      Fixed deposit rate of interest with the Central Bank of India is 9.25% and am happy with that.The services are really good with them.The minimum lock in period is 1 year of time but if we breakdown the fixed deposit before also they will not charge us anything but we are losing our interest rate.The services are good with them.
      Was this review helpful? 9
      , ahmedabad
      Reviewed on Jul 22, 2015
    • Central Bank of India Fixed Deposit
      "Good"
      0.5 5.0/5 "Blown Away!"
      I have taken a Fixed deposit plan from Central bank of India in which the interest rate offered is 8.3% the minimum lock in period is for 1 year. There is no penalty in case if we take the amount in between the lock in period. To withdraw the amount we have to visit the bank and sunder the bond. Customer service is not do good as the private banks. To activate the plan we have to deposit Rs.20,000 .
      Was this review helpful? 3
      , faridabad
      Reviewed on Jul 08, 2015
    • Central Bank of India Fixed Deposit
      "Worst Service & Worst bank"
      0.5 0.5/5 "Unacceptable"
      I have a Aspire Credit card and i already paid a due amount and bank has deducted same amount again in 15 days the bank branch manager says that we have not responsible for this card. Then why you give this aspire card to customers. And very Worst response from staff is like you have to contact call center or Mumbai Head office about this query. if they are answering like this then why they are doing job there. Very Worst Service Never go for any work to this bank Thanks.
      Was this review helpful? 14
      , ahmedabad
      Reviewed on Jun 03, 2015
    • Central Bank of India Fixed Deposit
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I am holding a fixed deposit with Central bank. They provide 1% high interest rate for the staff and for senior citizen it is 0.5%. As a staff we hardly take 5 minutes to open the account and provide the receipt it is that simple. Incase if the customer does not hold an account with us we ask for voters id incase if dont have an account we provide first 20k through cash and the rest would be transferred to savings account.
      Was this review helpful? 8
      , madurai
      Reviewed on May 09, 2015
    • Central Bank of India Fixed Deposit
      "best customer service"
      0.5 5.0/5 "Blown Away!"
      I am dealing with CBI cheeka from last 1 year. Customer service is very good as compared to other bank and interest rate is at par with other bank. Net bankig is very good. I can make fd through net banking and can close it through net banking also. No need to visit branch always.
      Was this review helpful? 27
      , cheeka
      Reviewed on Feb 17, 2015
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