Cent Premium Savings Account

1. Minimum Balance

You are required to maintain a minimum average quarterly balance of Rs.50,000 for rural and semi-urban areas, and Rs.1 lakh for urban and metro areas.

1. Chequebook

Free cheque books are issued per year. Based on your location, you will be provided with 60 to 200 cheque leaves per annum.

1. Debit Card

With the Cent Premium Savings Account, customers will be issued a free ATM-cum-debit card free of charge. Account holders are entitled to the Platinum debit card. With the debit card, customers can make withdrawals at ATMs and perform other transactions such as balance inquiries, change PIN, get mini statements, and more. The card can also be used to make purchases at the merchant and retail stores.

1. Internet Banking

Account holders will have access to online banking. They can carry out purchase transactions and pay for utility bills online.

1. SMS and Phone Banking

Central Bank of India provides free phone and SMS banking options. Some banking services can be carried out through the phone or SMS banking facilities.

1. Sweep out facility

Sweep out facility is available on this account on a daily basis.

1. Preferred Banking Service

Customers can avail of preferred banking services offered by Central Bank of India.

Offers on the Cent Premium Savings Account:

Account holders are entitled to a full waiver of processing fees for car loans and housing loans. This discount is applicable to retail lending schemes of housing and vehicle loan offered by Central Bank.

How to apply?

You can apply for this bank account by following the steps listed below:

1. You can download an application form online on the official website of Central Bank of India.
2. You can procure a form at any bank branch.
3. Fill in the form and submit it to the bank branch.
4. In the application, you will have the option to avail SMS alerts, Internet Banking, Mobile banking, Cheque book, Credit card and ECS.
5. You will also be required to submit documents to support your application.
6. You need to make the initial deposit to open your bank account.
7. Upon fulfilling the eligibility criteria, the documents required and the deposit, Central Bank of India will open your bank account.

Documents Required:

You need to submit the following documents to fulfill the KYC norms of Central Bank of India:

Two recent passport size photograph

ID proof - Any one of the following

1. Passport

1. PAN card

1. Voter’s identity card

1. Driving license

1. Job card issued by NREGA duly signed by an officer of the State Government

1. The letter issued by the Unique Identification Authority of India (UIDAI) containing details of name, address and Aadhaar number

1. Identity card subject to the bank’s satisfaction

1. Letter from a recognized public authority or public servant verifying the identity and residence of the customer to the satisfaction of bank

1. In case of NRI accounts copies of Passport and Visa are compulsory

Correct permanent address proof - Any one of the following

1. Telephone bill

1. Bank account statement

1. Letter from any recognized public authority

1. Electricity bill

1. Ration card

1. Letter from employer subject to satisfaction of the bank

1. Any one document which provides customer information to the satisfaction of the bank will suffice

1. A rent agreement indicating the address of the customer duly registered with State Government or similar Registration Authority

Proof of date of birth

1. Birth certificate issued by Gram Panchayat or Municipal Corporation

1. Passport

1. Voter’s identity card

1. Driving license

1. PAN card

1. Service discharge certificate

1. PPO in case of pensioners

Fees and Charges:

The fees and charges associated with this savings account have been listed below:

GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.