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 - 28 Sep 2025

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:

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

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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	Free at all Central Bank of India ATMs 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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