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).
The two different variants that the scheme will be available in are mentioned below:
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.
The following table shows the features of this scheme
| Account Type | Single |
| Amount |
|
| Rate of Interest | Interest rate will be as per prevailing term deposit card rate. |
| Period |
|
| TDS | As applicable |
| Loan against CENT Suraksha Deposit | N/A |
| Nomination (if any) | Available |
| Auto Renewals | N/A |
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 is a deposit scheme with an insurance incentive.
The deposit schemes are available in two variants, namely, CENT Suraksha Deposit and CENT Suraksha Deposit yojana.
The minimum period of deposit is 5 years while the maximum is 10 years.
Under the CENT Suraksha Deposit schemes, interest is compounded on a quarterly basis but paid on an annual basis.
Yes. Nomination facility is available under this scheme.
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