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Cent Bachat Khata

Central Bank of India offers the Cent Bachat Khata designed to include more people in the financially organised sector of the country. The account is a No-Frills Savings Deposit Account which just about anyone can open with a minimum of Rs.50. The key feature of this account is that there is no fees for not maintaining the minimum balance required. The account has limited privileges but at the same time offers the main banking services to customers.

Features of Cent Bachat Khata

Initial deposit and minimum balance

A customer needs just Rs.50 to open this bank account. The minimum balance required in this savings account is Rs.50. However, there are no services charges for falling below this requirement.

Chequebook facility

One chequebook is issued free of cost every year.


Account holders can make up to 50 withdrawals in a year free of cost.


The total amount of credit in a year should not exceed Rs.1 lakh. The total balance of all accounts taken should not exceed Rs.50,000.


There is a nomination facility. If the account holder nominates someone, then upon their demise, the proceeds of the account will be payable to the beneficiary.


  • Any citizen of India can open this account.
  • Minors of 12 years and above can open this account jointly or with another person.
  • Accounts can also be opened for minors in their own name with the natural guardian.

How to apply

To open this account, you need to visit any Central Bank branch. You will need to fill up an application form and submit it along with the required documents. Upon satisfying the eligibility criteria, Central Bank will open an account in your name. You will need to deposit Rs.50 initially to open this account.

Documents required

The introduction and KYC procedure for the Cent Bachat Khata are more relaxed.

Any existing client of the bank who has fulfilled their KYC requirements can introduce the customer and certify their identity and address. For minors, the proof of ID and address of their natural guardian or parents will suffice. Illiterate customers can affix their thumb impression in the presence of a bank official.

Interest Rate

The No-Frills account will earn 4% p.a. With or without chequebook facility, the interest rate will will remain at 4% p.a.

Fees and Charges

Since this is a No Frills account, most of the banking services are offered free of cost or at a very minimum fee. Given below are the fees and charges associated with the Cent Bachat Khata:

Particulars Charges
Account Opening Nil
Initial Deposit Rs.50
Minimum Balance Rs.50
Fees for failure to maintain minimum balance Nil
Cheque book 1 free per year
Issue of passbook Free
Issue of balance certificate Free
Issue of balance certificate at the request of the customer Rs.75
Balance enquiry Free
Charges for excess debit entries Rs.10 per entry
Cash deposit at any Central bank Branch Free
Cash withdrawal at any Central Bank branch Free

Cent Bachat Khata FAQs

  1. Where can I get an application form to open this account?

    You can find the application form to open this account online on the Central Bank official website. You can also get a form at any Central Bank branch.

  2. Can I change my nominee?

    Yes, you can change the nominee listed under your Cent Bachat Khata account. A fee may be applicable as per the bank’s norms.

  3. Can I open this account without an Aadhar card?

    Yes, the documents required for this account are minimal. You need to find someone who is an existing customer of Central Bank and has fulfilled their KYC (Know Your Customer) requirements. They can introduce you as a customer to the bank. That will be sufficient. Alternatively, you can submit basic ID proof and address proof to fulfill your KYC requirements.

  4. What are the acceptable documents for ID and address proof?

    You can submit any of the following as ID proof: Driving licence, Aadhar card, voter ID, passport, PAN card, ration card, employer ID, letter from the employer certifying your identity, any other ID issued by a government authority.

  5. Can I open this account online?

    There is no facility yet to open this account online. You need to visit a branch of Central Bank.

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