Central Bank of India Cent Salary Savings Scheme (CSSS)

The Cent Salary Savings Scheme (CSSS) is launched by the bank targeting employees in state government, central government, and other public sector undertakings. Set up in 1911, the Central Bank of India plays a key role in promoting small-scale industries and agriculture in the country.

Updated On - 05 Sep 2025
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The bank has operations in 29 states and 6 union territories. The bank serves a long list of financial institutions and corporate entities and also allows individual deposits.

Eligibility conditions:

  1. Allows permanent employees of central government, state government, and other PSUs to open account in a group of minimum 10 members.
  2. For permanent employees in corporate sector the lower limit set is 25 members.
  3. The employing organization is also required to open a current account, wherever possible
  4. The minimum net salary should not be below Rs.10,000
  5. If salary is not credited in the account for 3 consecutive months, the account will be converted into a normal savings account
  6. Normal KYC norms are applicable for CSSS accounts
  7. Requires an employer's mandate for the salary to be channeled through the bank

Key features of CSSS:

Minimum balance

No minimum balance required

Maintenance charges

Nil

Medical health policy for family

Up to Rs.4 lakhs (through Chola Health Policy)

Lifetime Unique Account Number

The facility is available across all branches and it allows you to convert the salary account to a pension account on retirement

Direct credit of salary

Set on a predetermined date

Account access

Through ATMs, mobile banking, internet banking, etc., for withdrawals, deposits, and transfer

Alerts

Account related information is available through internet banking, tele banking, and SMS alerts

Joint account

Allows you to open joint account with spouse or any other family member

Standing instructions

Free of charge

ATM/Debit Card

Offers 'Wonder Card' which is a combination of debit cum credit card. It's a tailor-made solution for salaried customers

Stop cheque instructions

3 instructions per quarter fee

ATM transactions

  1. Free at all Central Bank of India ATMs
  2. Free at other bank ATMs, subject to RBI norms applicable from time to time

Crediting outstation cheques

Up to Rs.15,000 credited instantly, subject to terms and conditions

Remittance through RTGS/NEFT

Free of charge

Utility bill payments online

Free of charge

Passbook

Available for all accounts

Processing charges for retail loans

Not applicable

Locker rent

10% concession in locker rent

Auto sweep facility

Available to convert amount above Rs.15,000 to fixed deposit

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

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