The CENT Uttam Scheme is one of the fixed deposit schemes offered by the Central Bank of India. The Central Bank of India was the first commercial bank in India established in 1911 which had the distinction of being wholly owned and successfully operated by Indians. The Central Bank of India was nationalised in 1969. The CENT Uttam scheme provides customers with various benefits such as high returns and easy liquidity. The CENT Uttam scheme is also flexible in that customers can withdraw a part of their deposit amount according to their financial requirements. Under the CENT Uttam scheme, customers withdraw some ‘units’ (deposit amount) in case they require liquidity. It is important to note that the withdrawn amount has no bearing on the remaining deposit amount in that the same interest rate applies on the amount till maturity (10 ‘unit withdrawals’ can be made throughout the period of the scheme).
Eligibility Criteria for applying for CENT Uttam Scheme
CENT Uttam Scheme can be availed by Indian citizens. Please contact bank representatives for details.
Features of CENT Uttam Scheme
The salient features of CENT Uttam Scheme are listed in the table below:
Account Type
J Single
Amount
Minimum: Rs.5,000 (multiples of Rs.1,000)
Maximum: N/A
Rate of Interest
The rate of interest will depend on the deposit date and period
Period
Minimum: 30 days
Maximum: 120 months
TDS
N/A
Loan against Sscheme
Available according to prevailing deposit regulations
Nomination (if any)
N/A
Auto Renewals
N/A
CENT Uttam Scheme Interest Rates
The Central Bank of India offers varying interest rates for its fixed deposit customers under various schemes in that rates may range from 5% to 9% depending on the deposit amount and the total period for which the deposit is held by the bank. Customers should consult officials of Central Bank of India for further details regarding interest rates.
*Interest rates are subject to change without prior warning. Contact the bank for further information.Rates are as of January 2016.
CENT Uttam Scheme FAQs
What is CENT Uttam Scheme?
The CENT Uttam Scheme is one of the fixed deposit schemes offered by the Central Bank of India.
What is the minimum deposit amount under the CENT Uttam Scheme?
The minimum deposit amount under the scheme is Rs.5000.
What is the minimum and maximum deposit period under the CENT Uttam Scheme?
The minimum and maximum deposit period under the CENT Uttam Scheme is 30 days and 120 months respectively.
What are the main benefits offered by the CENT Uttam Scheme?
The CENT Uttam Scheme offers various benefits to customers such as high returns and easy liquidity.
Can customers avail of loan against the CENT Uttam Scheme?
Yes. Customers can take a loan against CENT Uttam Scheme, subject to prevailing terms and conditions.
Useful Information on Central Bank of India Fixed Deposit
Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.
Interest rates are less in Central Bank of India so I had taken a fixed deposit. I have invested the money of Rs. 1 lakh in my wife's name. Branch is near from my place so I have chosen this bank. Yearly once, I get the money of Rs. 6,765 for the interest. There is a locking period of 1 year.
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.
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?
12
REVATHI VENKATESAN
, chennai
Reviewed on Jun 25, 2018
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?
9
SHIVAJI MAGANLAL PADHIYAR
, ahmedabad
Reviewed on Nov 28, 2017
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.
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.
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...
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.
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?
18
SHASHIKANT OJHA
, bikaner
Reviewed on Aug 09, 2016
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?
10
SHAILESH LABHUBHAI BAKUTRA
, ahmedabad
Reviewed on Feb 22, 2016
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?
13
GUMLAPALLI PAVAN KUMAR
, coimbatore
Reviewed on Feb 04, 2016
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?
11
PRASHANT PRAVIN KUMAR PARMAR
, ahmedabad
Reviewed on Jan 30, 2016
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.
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.
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
TKAMALAKARA RAO
, vijayawada
Reviewed on Sep 08, 2015
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?
7
SELVAM MUNIYANDI
, chennai
Reviewed on Aug 26, 2015
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?
10
HARDIK ACHARYA
, ahmedabad
Reviewed on Jul 22, 2015
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
SUSHIL KUMAR KHARVAR
, faridabad
Reviewed on Jul 08, 2015
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
Amrutbhai Patel
, ahmedabad
Reviewed on Jun 03, 2015
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?
9
BASKARAN MARIAPPAN
, madurai
Reviewed on May 09, 2015
