• Cent Suraksha Deposit

    CENT Suraksha Deposit scheme is a fixed deposit scheme offered by Central Bank of India. The scheme is available in two variants, the CENT Suraksha Deposit (PMSBY- RS.177) and CENT Suraksha Deposit yojana (PMJJBY- Rs.4,317).

    CENT Suraksha Deposit Variants

    The two different variants that the scheme will be available in are mentioned below:

    • CENT Suraksha Deposit: Will facilitate payment of premium towards Pradhan Mantri Suraksha Bima Yojana (PMSBY).
    • CENT Suraksha Deposit Yojana: Will facilitate payment of premium for both Pradhan Mantri Suraksha Bima Yojana and Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY).

    Eligibility Criteria for applying for CENT Suraksha Deposit

    As per Suraksha Deposit scheme, only individuals are eligible to avail of this scheme. Partnerships, Proprietorships, Institutions, Trust and Societies cannot avail the benefits of the scheme.

    Features of CENT Suraksha Deposit

    The following table shows the features of this scheme

    Account Type Single
    Amount
    • CENT Suraksha Deposit
      • Instrument: Rs.201
      • FD: Rs.177
    • CENT Suraksha Deposit yojana
      • Instrument: Rs.5,001
      • FD: Rs.4,317
    Rate of Interest Interest rate will be as per prevailing term deposit card rate.
    Period
    • Minimum: 5 years
    • Maximum: 10 years
    TDS As applicable
    Loan against CENT Suraksha Deposit N/A
    Nomination (if any) Available
    Auto Renewals N/A

    CENT Suraksha Interest Rates

    Under this scheme, interest is compounded on a quarterly basis but paid on an annual basis by crediting the giftee's account. The interest credited in the savings account is premium towards PMSBY or PMJJBY. The following table shows additional rates

    Category Interest
    Senior citizen 0.5%
    Ex-staffer-cum senior citizen 1.5%
    Ex-staff/staff/widow/widower of staff 1%

    CENT Suraksha Deposit Scheme FAQs

    1. What kind of deposit scheme is CENT Suraksha?

      CENT Suraksha is a deposit scheme with an insurance incentive.

    2. What are the variants of deposit schemes offered by Central Bank of India?

      The deposit schemes are available in two variants, namely, CENT Suraksha Deposit and CENT Suraksha Deposit yojana.

    3. What is the minimum and maximum period of deposit?

      The minimum period of deposit is 5 years while the maximum is 10 years.

    4. How is interest calculated for CENT Suraksha Deposit schemes?

      Under the CENT Suraksha Deposit schemes, interest is compounded on a quarterly basis but paid on an annual basis.

    5. Is nomination facility available under this scheme?

      Yes. Nomination facility is available under this scheme.

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