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Can you tell me about Interest Rates for RD (Recurring Deposit) as offered by CBI (Central Bank of India) for its customers?

[Vishal Kotkar]

Central Bank of India offers three RD (Recurring Deposit) schemes at attractive interest rates and also offers special rates for senior citizens. The schemes provided are - Cent Millionaire, Cent Lakhpati and CENT Swa-ShaktiI Flexi RDS.

Non-resident Indians can also opt to open a recurring deposit account with Central Bank of India at interest rates ranging between 7.50% and 7.25%, depending on the scheme selected.

The deposit tenures vary from 6 months to up to 10 years as per the scheme chosen by the customer. Account holders can choose to make payments towards their recurring deposits using branch transfers, internet banking, Cash, cheques, ECS or standing instructions.

Central Bank of India Recurring Deposit Interest Rates

Period in Years ROI (% P.A)
1 6.5
2 6.5
3 6.5
4 6.5
5 6.5
6 6.5
7 6.5
8 6.5
9 6.5
10 6.5
Cent Millionaire - Number of Years ROI (% P.A)
10 6.9

Maturity Period Interest Rates for Interest Rates for
General Citizens (%) Senior Citizen (%)
7 -14 days 4 4.5
15 - 30 days 4.25 4.75
31 - 45 days 4.25 4.75
46 - 59 days 4.25 4.75
60 - 90 days 4.25 4.75
91 - 179 days 6.5 7
180 - 270 days 6.5 7
271 - 364 days 6.5 7
1 yr to less than 2 yrs 6.5 7
2 yr to less than 3 years 6.5 7
3 yr to less than 5 years 6.5 7
5 years & above upto 10 years 6.5 7
555 days 6.5 7
777 days 6.5 7