Whoever said wishes don’t come true hasn’t explored our offers!

Cent Premium Savings Account

A premium banking account for preferred customers, the Cent Premium Savings Account has many benefits such as a free Platinum debit card, preferred banking services, free online/SMS/phone banking, and sweep out facilities. Account holders are also given exclusive privileges such as a waiver of processing fees on housing and vehicle loans from Central Bank of India.

Features of Cent Premium Savings Account

Initial Deposit

Depending on the location of the bank branch, your initial deposit amount will vary between Rs.250 to Rs.1,000. The difference is based on whether you are in rural, semi-urban, urban or metro areas.

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.


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

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 enquiry, change PIN, get mini statement and more. The card can also be used to make purchases at merchant and retail stores.

Internet Banking

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

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.

Sweep out facility

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

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:

  • You can download an application form online on the official website of Central Bank of India.
  • You can procure a form at any bank branch.
  • Fill in the form and submit it to the bank branch.
  • In the application, you will have the option to avail SMS alerts, Internet Banking, Mobile banking, Cheque book, Credit card and ECS.
  • You will also be required to submit documents to support your application.
  • You need to make the initial deposit to open your bank account.
  • 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
    • Passport
    • PAN card
    • Voter’s identity card
    • Driving license
    • Job card issued by NREGA duly signed by an officer of the State Government
    • The letter issued by the Unique Identification Authority of India (UIDAI) containing details of name, address and Aadhaar number
    • Identity card subject to the bank’s satisfaction
    • Letter from a recognized public authority or public servant verifying the identity and residence of the customer to the satisfaction of bank
    • In case of NRI accounts copies of Passport and Visa are compulsory
  • Correct permanent address proof - Any one of the following
    • Telephone bill
    • Bank account statement
    • Letter from any recognized public authority
    • Electricity bill
    • Ration card
    • Letter from employer subject to satisfaction of the bank
    • Any one document which provides customer information to the satisfaction of the bank will suffice
    • A rent agreement indicating the address of the customer duly registered with State Government or similar Registration Authority
  • Proof of date of birth
    • Birth certificate issued by Gram Panchayat or Municipal Corporation
    • Passport
    • Voter’s identity card
    • Driving license
    • PAN card
    • Service discharge certificate
    • PPO in case of pensioners

Fees and Charges:

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

Particulars Metro Urban Semi-Urban Rural
Initial Deposit Rs.1,000 Rs.1,000 Rs.500 Rs.250
Minimum average quarterly balance Rs.1 lakh Rs.1 lakh Rs.50,000 Rs.50,000
Charges for non-maintenance of AQB Rs.1,000 per quarter Rs.750 per quarter Rs.500 per quarter Rs.200 per quarter
Debit card issuance Nil Nil Nil Nil
Debit card Replacement Free 75% concession 50% concession 25% concession
Credit card issuance Nil Nil Nil Nil
Credit card renewal Nil Nil Nil Nil
Internet Banking Free Free Free Free
SMS and phone banking Free Free Free Free
Standing Instructions Free Free Free Free
Stop Payment Instruction Free Free Free Free
Online Tax Payment Free Free Free Free
Interest Certificate Free Free Free Free
Balance Certificate Free Free Free Free
Email Account Statement Free Free Free Free
RTGS/NEFT (per quarter) 20 free transactions up to Rs.5 lakhs per transaction 15 free transactions up to Rs.5 lakhs per transaction 10 free transactions up to Rs.5 lakhs per transaction 5 free transactions up to Rs.5 lakhs per transaction
Issuance of P.O or DD (per quarter) Free up to 5 lakhs Free up to 5 lakhs Free up to 2.5 lakhs Free up to 2.5 lakhs
Cheque books 200 free leaves p.a. 150 free leaves p.a. 100 free leaves p.a. 60 free leaves p.a.
Demat Maintenance charges Free 75% concession on the normal fee NA NA
Cash deposits at Central Bank of India Free Free Free Free
Cash withdrawal at home branch Free Free Free Free
Cash withdrawal at local or outstation non-base Central Bank of India branch Upto 5 free transactions Upto 5 free transactions Upto 5 free transactions Upto 5 free transactions

Cent Premium Savings Account FAQs

  1. What is the interest rate offered on this bank account?

    Central Bank of India will credit interest on the account balance at the rate of 4% p.a.

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

    You can find the application form for account opening on the Central Bank of India website. You can also procure a form from any Central Bank of India branch.

  3. Do I require Aadhaar to open this account?

    You can open this account without an Aadhaar card provided you fulfill the KYC requirements.

  4. Are there any annual fees for the Platinum Debit Card?

    No, the Platinum Debit Card is issued free of charge. There are no debit card maintenance charges associated with this account.

  5. What is the limit per transaction for NEFT?

    For both NEFT and RTGS, you can transfer up to Rs.5 lakhs per transaction.

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

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.

This Page is BLOCKED as it is using Iframes.