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Central Bank of India Recurring Deposit Interest Rates 2019

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Central Bank of India offers 4 recurring deposit (RD) schemes under its wing.  You can get an interest rate of 6.65% p.a. on the deposited amount. You can open an RD account with a minimum deposit of Rs.100. The tenure ranges from 6 months to 10 years. Senior citizens can get an additional interest rate of 0.50% on the existing rate. 

Central Bank of India Recurring Deposit Interest Rates 

 
Tenure Rate of Interest (for amount less than Rs.2 crore) Rate of Interest for Senior Citizens (for amount less than Rs.2 crore)
180 days to 270 days  6.45% p.a.  6.95% p.a. 
271 days to 364 days  6.45% p.a.  6.95% p.a. 
1 year to less than 2 years  6.65% p.a.  7.15% p.a. 
2 years to less than 3 years  6.45% p.a.  6.95% p.a. 
3 years to less than 5 years  6.45% p.a.  6.95% p.a. 
5 years to 10 years  6.45% p.a.  6.95% p.a. 

The bank introduced a new recurring deposit scheme called Cent Lakhpati. The interest rates offered under this scheme are as follows: 

 
Tenure Interest Rate Monthly Instalments  Maturity Amount
1 year  6.65% p.a.  Rs.8040  Over Rs.1 lakh 
2 years  6.55% p.a.  Rs.3900 
3 years  6.55% p.a.  Rs.2510 
4 years  6.55% p.a.  Rs.1820 
5 years  6.55% p.a.  Rs.1410 
6 years  6.55% p.a.  Rs.1140 
7 years  6.55% p.a.  Rs.940 
8 years  6.55% p.a.  Rs.800 
9 years  6.55% p.a.  Rs.680 
10 years  6.55% p.a.  Rs.600 

Types of Central Bank of India Recurring Deposit Schemes 

  • Recurring Deposit Scheme: This scheme is designed for people with regular income. One of the major benefits of this RD scheme is that any minor above 10 years of age who can read and write can operate this account. However, the monthly instalment is limited to Rs.500 and the maximum maturity value should not exceed Rs.50,000. Senior citizens, staff or ex-staff widow, and ex-staff plus senior citizen can enjoy additional rates of 0.5% p.a., 1% p.a., and 1.5% p.a., respectively. 
  • Cent Swa-Shakti Flexi Recurring Deposit Scheme: You can open this RD account with an amount of Rs.100. Minors below 10 years can apply jointly with their guardians for this scheme. The best part of this scheme that other than the core amount you can also deposit additional funds. The tenure ranges from 6 months to 10 years. No penalty is charged for delayed instalment or premature withdrawal. 
  • Cent Lakhpati: It’s a new scheme that lets you earn an interest of 6.55% p.a. on the deposited amount. The tenure ranges from 1 year to 10 years. 
  • Cent Millionaire: This RD scheme lets you enjoy attractive interest rates for a period of up to 10 years. Note that TDS is applicable on whatever you earn as interest. 

Benefits of Central Bank of India Recurring Deposits 

  • Attractive interest rates 
  • Additional rates for senior citizens 
  • Nomination facility available 
  • Minors below 10 years of age can apply jointly with their guardians 
  • Loan against deposit facility available 

Central Bank of India RD Calculator 

You can take the help of online RD calculators to calculate the interest on your RD. The process is simple and hassle-free. All you need to do is enter all the details pertaining to your RD account, including the amount, tenure, and rate of interest. Put your money in RD schemes offered by Central Bank of India and enjoy competitive rates. However, to enjoy better returns, look for other investment vehicles like mutual funds, fixed deposits, stocks, and bonds, among others. 

More you need to know about Recurring Deposit

Central Bank of India RD Schemes

Read More Articles On RD

News About CBI Recurring Deposit Interest Rates

  • Revised Recurring Deposit Interest Rates Offered by The Central Bank of India

    CENT Swa-ShaktiI Flexi RDs offered by Central Bank of India is one of the most popular Recurring Deposits Schemes available in India which has recently changed its RD interest rates. As per the revised interest rates, the interest rate for recurring Deposit amounts of less than Rs 1 crore, stands at 7.25% per annum for 6 months which was previously 7.35% p.a. For tenures ranging from from 2 years up to 10 years with a deposit amount less than Rs 1 crore, the interest rate ranges from 7.25% to 7.50% per annum which was 7.75% p.a previously. For senior citizens, the interest rate for 6 months and 9 months has changed to 7.75% p.a from 7.85% p.a. For tenures of 2 years and 3 years, the interest rate has been changed to 8% and 7.75% which previously stood at 8.25% from 8.5% per annum. The interest rates has been revised to 7.75% per annum for tenures of 4, 5 and 10 years instead 8% per annum.

    1 July 2016

  • Central Bank of India updates Recurring Deposit Interest Rates

    Central Bank of India CENT Swa-Shaktil Flexi Recurring Deposit Scheme is one of the most popular RD schemes offered by banks in India. Recently, Central Bank of India has changed the interest rates for recurring deposit pertaining to select tenures. For Recurring deposit amounts less than Rs. 1 crore, the interest rate for 6 months and 9 months has been changed to 7.35% per annum and 7.25% per annum from previous interest rate of 7.75%. For tenures from 2 years to up to 10 years and a deposit amount less than Rs. 1 crore, the interest rate has been revised to 7.75% per annum in place of the previous 8% per annum. The interest rate for tenure of 1 year has been changed to 7.5% per annum from 8%.

    For senior citizens, the interest rate for 6 months and 9 months has been changed to 7.85% and 7.75% respectively from the previous 8.25%. For a tenure of 1 year under senior citizens scheme, the interest rate is set at 8% instead of 8.5% which was being offered previously. For tenures of 2 years and 3 years, the interest rate has been changed to 8.25% from 8.5% per annum. The interest rates has been revised to 8% instead of 8.5% per annum for tenures of 4 years, 5 years and 10 years respectively.

    24 March 2016

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Central Bank of India RD Rates Reviews

Page 1 of 1
  • Central Bank of India Recurring Deposit
    "Good service"
    CENTRAL BANK OF INDIA
    0.5 4.0/5 "Great!"
    I am having a Recurring Deposit account with Central Bank of India, i pay an amount of Rs 2000 every month and i have to pay this amount for 12 months. Customer support was very good and they explained the terms and conditions. I get an interest of Rs 800 after maturity period.
    Was this review helpful? 4
    , new delhi
    Reviewed on Jan 08, 2019
  • Central Bank of India
    Central Bank of India Recurring Deposit
    "Recurring deposit is fine"
    CENTRAL BANK OF INDIA
    0.5 5.0/5 "Blown Away!"
    Central bank provides very good service and support . I am holding this RD for the past 3 years. Here I got the best rate of interest and I also get some tax benefit here. Interest what I earn is on a monthly basis. I have not experienced any thing negative with them.
    Was this review helpful? 14
    , coimbatore
    Reviewed on Jan 13, 2017
  • Central Bank of India Recurring Deposit
    "Good bank"
    CENTRAL BANK OF INDIA
    0.5 3.0/5 "Satisfactory"
    I had the recurring deposit account with the Central bank of India and the interest rate was around 8.75%. The minimum lock in period is around one year of time and the services are good with the Central bank of India.
    Was this review helpful? 8
    , thane
    Reviewed on Mar 23, 2016
  • Central Bank of India Recurring Deposit
    "Best"
    CENTRAL BANK OF INDIA
    0.5 4.0/5 "Great!"
    I do have the recurring deposit with the Central bank of India. Interest rate is around 7.75% as of now and the interest will be compounded with the capital deposit. Minimum lock in period is around one year of time and the nomination is a flexible one with them.
    Was this review helpful? 3
    , coimbatore
    Reviewed on Feb 04, 2016
  • Central Bank of India Recurring Deposit
    "Less time period "
    CENTRAL BANK OF INDIA
    0.5 5.0/5 "Blown Away!"
    CENTRAL BANK OF INDIA was offering good interest rates for the Recurring deposit account. Yearly the rate of interest will be increased. Monthly I will paying rupees 500 for this account. I felt it will be useful in my emergency time.
    Was this review helpful? 6
    , coimbatore
    Reviewed on Oct 26, 2015
  • Central Bank of India Recurring Deposit
    "Good"
    CENTRAL BANK OF INDIA
    0.5 3.0/5 "Satisfactory"
    Central Bank of India offers 9% interest rate for the recurring deposit plan with the minimum lock in period of one year. The minimum amount to be deposit is Rs.500 . The customer service is not cooperative and the online service is also not good.
    Was this review helpful? 8
    , mumbai
    Reviewed on Sep 07, 2015
  • Central Bank of India Recurring Deposit
    "Very Good"
    CENTRAL BANK OF INDIA
    0.5 4.0/5 "Great!"
    I am having the recurring deposit with the central bank of india. The rate of interest is around 9.85% for the 6 years of time. The services should be improve in the aspects of internet banking and the customer assistance. For time being I am okay with them.
    Was this review helpful? 4
    , mumbai
    Reviewed on Sep 05, 2015
  • Central Bank of India Recurring Deposit
    "Only for Savings"
    CENTRAL BANK OF INDIA
    0.5 5.0/5 "Blown Away!"
    The rate of interest is not a constraint for me and the main reason that I took the recurring deposit with the central bank of India for saving the money. 5 years of time is the minimum lock in period.I guess that there are some of the money will be penalize if we broken the deposit before the minimum lock in period. Services are good with them.
    Was this review helpful? 3
    , visakhapatnam
    Reviewed on Jul 28, 2015
  • Central Bank of India Recurring Deposit
    "Excellent"
    CENTRAL BANK OF INDIA
    0.5 5.0/5 "Blown Away!"
    I am holding a RD with Central bank. they have a scheme called CENT Milliner scheme where a customer has to deposit about 5250 for a period of 10 years and after 10 years it will become 10 lakhs. Interest rate offered by them was 10.25% flat in case if they are going to withdraw the amount in between they would refund the remaining amount with the interest and Principle.
    Was this review helpful? 8
    , madurai
    Reviewed on May 09, 2015
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