Central Bank of India Bank FD Interest Rates 2023 |
|
Highest slab rate | 6.50% (for 555 days) |
For 1 year | 6.15% |
For 2 years | 5.60% |
For 3 years | 6.00% |
For 4 years | 6.00% |
For 5 years | 5.75% |
Tax-Saving FD | 5.75% |
Interest rates as of 22 December 2022
Central Bank of India FD Rates 2022
Fixed Deposit Interest Rates on Domestic Deposits of less than Rs 2 crore w.e.f. 10 November 2022
Tenure | Rate of Interest (% p.a.) |
7 days to 14 days | 3.00 |
15 days to 30 days | 3.25 |
31 days to 45 days | 3.25 |
46 days to 59 days | 4.25 |
60 days to 90 days | 4.25 |
91 days to 179 days | 4.50 |
180 days to 270 days | 5.25 |
271 days to 364 days | 5.25 |
1 year to less than 2 years | 6.15 |
2 years to less than 3 years | 6.00 |
3 years to less than 5 years | 5.75 |
5 years to 10 years | 5.75 |
555 days | 6.50 |
999 days | 6.25 |
Fixed Deposit Interest Rates on Domestic Single Deposits of Rs 2 crore to Rs 10 crore w.e.f. 10 November 2022
Tenure | Interest Rates (% p.a.) |
7 days to 14 days | 4.00 |
15 days to 30 days | 4.00 |
31 days to 45 days | 4.50 |
46 days to 59 days | 4.50 |
60 days to 90 days | 3.50 |
91 days to 179 days | 4.50 |
180 days to 270 days | 5.65 |
271 days to 364 days | 5.65 |
1 year to less than 2 years | 6.25 |
2 years to less than 3 years | 5.75 |
3 years to less than 5 years | 5.50 |
5 years & above up to 10 years | 5.50 |
555 days | 6.50 |
999 days | 6.25 |
Central Bank of India Tax Saver Deposit (Cent Tax Saving Deposit)
Tenure | Regular Citizens |
5 years | 5.75% |

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Interest Rates on NRE Deposit of less than Rs 2 crore w.e.f. 10 November 2022
Tenure | Interest Rate* (% p.a.) |
1 year to less than 2 years | 6.15 |
2 years to less than 3 years | 6.00 |
3 years to less than 5 years | 5.75 |
5 years to 10 years | 5.75 |
555 days | 6.50 |
999 days | 6.25 |
Interest Rates on NRE Deposit of Rs 2 crore to Rs. 10 crore w.e.f. 10 November 2022
Tenure | Interest Rate* (% p.a.) |
1 year to less than 2 years | 5.10 |
2 years to less than 3 years | 5.75 |
3 years to less than 5 years | 5.50 |
5 years to 10 years | 5.50 |
555 days | 5.75 |
999 days | 6.25 |
*Additional benefit of interest is not allowed to either senior citizen or ex-staff/staff.

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Interest Rates on FCNR (B) Deposits w.e.f. 1 December 2022
 Tenure | Interest Rates (% p.a.) | ||||
USD | GBP | EUR | CAD | AUD | |
1 year to less than 2 years | 5.77 | 3.63 | 2.00 | 4.63 | 3.70 |
2 years to less than 3 years | 5.62 | 4.03 | 2.20 | 5.36 | 4.20 |
3 years to less than 4 years | 5.50 | 4.13 | 2.40 | 5.61 | 4.55 |
4 years to less than 5 years | 5.60 | 4.13 | 2.40 | 5.66 | 4.80 |
5 years only | 5.65 | 4.13 | 2.40 | 5.66 | 4.90 |
Overdue deposit | 4.77 | 2.63 | 1.00 | 3.36 | 2.70 |
Interest Rates on RFC Fixed Deposit w.e.f. 1 December 2022
Period of USD Deposit | Interest Rates (% p.a.) |
6 months to less than 12 months | 4.77 |
Overdue deposits | NIL |
Types of Central Bank of India FD Schemes
Central Bank of India Fixed Deposit Schemes for Resident Indians
Fixed Deposit Receipt (FDR)
- It is a short-term fixed deposit that allows depositors to earn higher rate of interest, which is applicable for term deposit
- Tenure:Â 7 days to 120 months
- Deposit Amount:Â At least Rs 100 and thereafter in the multiples of Rs 100
- Interest:Â Simple interest is credited in the account at 6 month intervals (in March and September) every year or on maturity of the deposit, whichever is earlier.
- Premature Payment:Â Prepayment is allowed, however, penal interest @1% will be charged on premature withdrawal of deposit of above Rs 5 lakh. No prepayment penalty is levied on premature withdrawal of deposit up to Rs 5 lakh.
- Loan/Advance against Deposit:Â Loan facility is available up to 90% of the deposit amount.
Money Multiplier Deposit Certificate (MMDC)
- In this fixed deposit scheme, the interest accrued gets added back to the principal, thereby, increasing your deposits exponentially.
- Tenure:Â 6 to 120 months
- Deposit Amount:Â At least Rs 100 and thereafter in the multiples of Rs 100
- Interest:Â Simple interest is credited in the account at 6 month intervals (in March and September) every year or on maturity of the deposit, whichever is earlier.
- Premature Payment:Â Payment before maturity is available as per prevailing rules.
- Loan/Advance against Deposit:Â Loan facility is available.
Monthly Interest Deposit Receipt (MIDR)
- The MIDR scheme offers depositors monthly interest earnings without affecting the principal amount.
- Tenure:Â 12 to 120 months
- Deposit Amount:Â At least Rs 5,000 and thereafter in the multiples of Rs 1,000
- Premature Payment:Â Payment before maturity is available as per prevailing rules.
- Loan/Advance against Deposit:Â Loan facility is available as per prevailing rules.
Quarterly Interest Deposit Receipt (QIDR)
- The QIDR scheme offers depositors quarterly interest earnings without affecting the principal amount.
- Tenure:Â 12 to 120 months
- Deposit Amount:Â At least Rs 5,000 and thereafter in the multiples of Rs 1,000
- Premature Payment:Â Payment before maturity is available as per prevailing rules.
- Loan/Advance against Deposit:Â Loan facility is available as per prevailing rules.
Cent Tax Saving Deposit
- Investments under this fixed deposit scheme come with tax benefits of up to Rs 1.5 lakh under Section 80C of Income Tax Act. However, the interest accrued or paid in such deposit is taxable and subject to TDS as per existing rules.
- Tenure:Â Fixed period of 5 years
- Minimum Deposit Amount: Rs. 100 or multiples thereof
- Maximum Deposit Amount:Â Rs. 1.5 lakh in a financial year
- Deposit Options:Â Monthly Interest Deposit, Quarterly Interest Deposit or Reinvestment Plan (Cumulative)
- Premature Payment/Loan Facility:Â Premature payment and Demand Loan/Overdraft facility is not allowed. The deposit receipt cannot be pledged for any type of loan or as a collateral security for any facility.
Cent Aspire Scheme
- Under this scheme, the deposit shall be accepted in three variants, MMDC, MIDR and QIDR
- Eligibility:
- Only individual(s) above 18 years of age can deposit under this scheme.
- The deposits can be opened either in single name or in joint names.
- Free Aspire Credit Card shall be issued to first named depositor only.
- This product will not be available to minors and non-individual (impersonal) customers such as proprietorship firm, partnership firm, HUF, Private/Public Limited Company, Trusts, Educational Institutions, etc.
- Deposit Amount: At least Rs.20,000 and thereafter in the multiples of Rs.1,000
- Minimum Tenure:Â 1 year and above in multiples of 3 months, i.e. 15 months, 18 months etc. with auto renewal option
- Maximum Tenure:Â 10 years
- Preferable Tenure:Â 3 years and above, as the Aspire Credit Card is valid for 3 years. Initially, the deposits are accepted for maturities of 1 year and 3 years only. Other maturities will be introduced later on in a phased manner.
- Auto Renewal:Â All deposits under the scheme will be under auto-renewal mode. They will be renewed for a similar period on maturity of deposit, so that there is no loss of interest to the customer. Auto renewal option is mandatory and is built-in into the scheme in CBS.
- Loan against Deposit: No loan or overdraft facility is available.
- Conversion of existing deposits: Not allowed; only fresh deposits can be accepted under the scheme. The scheme is meant for mobilizing additional deposit and not for conversion of existing deposit.
- Lien on Deposit: All deposits under the scheme will be under auto-lien for the Aspire Credit Card. Lien will be for the principal amount of deposit in case of MIDR/QIDR. Lien will also be printed on the face of the deposit. The deposit receipt can be handed over to the customer, though the bank will have lien on the deposit amount.
- Payment of interest for MIDR/ QIDR: Interest on MIDR / QIDR will be paid as under normal schemes. There will be no lien on the interest payable periodically.
- Premature withdrawal:
- Premature withdrawal is permitted, subject to adjustment of card dues in full and surrender/blocking of the Aspire Credit Card.
- Penal interest at the rate of 1% will be charged on premature withdrawal of time deposit above Rs 5 lakh.
- No penalty will be levied on premature withdrawal of deposits provided the deposits are renewed for a period longer than remaining period of the original contract.
- In case of premature withdrawal of deposits up to Rs 5 lakh, there will be no levy of penal interest.

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Cent Suraksha Deposit
- This FD scheme gives you the liquidity of a Savings Account with the high earnings of a Fixed Deposit.
- In this scheme, the FD account is linked to an existing savings bank account, thus, facilitating automatic reverse sweep when the balance in the linked savings account falls below Rs 10,000 for individual customers.
- The linked FDs will be the same Customer ID and will be for a minimum tenure of one year for savings account customer.
- The FDs will be broken in Last-In, First-Out (LIFO) basis for reverse sweep.
- The Fixed Deposit will be opened in auto renewal mode.
- The deposit will be renewed for the same tenure as the original tenure.
Central Flexi Yield Deposit Scheme
- In the Flexi FD, the bank links your FD to your current account, thereby, giving you the liquidity of a Current Account and high earnings of a Fixed Deposit.
- Minimum balance in the Current Account should be Rs 1.05 lakh to generate a linked FD request.
- All FDs linked to the account will be enabled for automatic reverse sweep when the balance in the Current Account falls below Rs 1 lakh for individual customers.
- The linked FDs will be under the same Customer ID for Current Account customers.
- FDs will be broken in the Last-In, First-Out (LIFO) basis for reverse sweep.
- The Fixed Deposit will be opened in auto renewal mode. The deposit will be renewed for the same tenure as the original tenure.
- The interest rate on such Fixed Deposits will be the rate applicable for the respective period, prevailing as on the date of such auto renewal.
Central Bank of India Fixed Deposit Schemes for NRIs and PIOs
Cent 777 Term Deposit
- Tenure:Â Fixed period of 777 days
- Deposit Amount: Rs. 1,000 to less than Rs. 1 crore
- Interest Rates:Â Deposits under the Scheme will attract interest at 9.15% and will be compounded quarterly. In case of revision in domestic deposit rates for the same period, this rate will be equivalent to the rate applicable to domestic deposit of 777 days maturity.
Cent 555 Term Deposit
- Tenure:Â Fixed period of 555 days
- Deposit Amount: Rs. 1,000 to less than Rs. 1 crore
- Interest Rates:Â As applicable to domestic deposits for similar tenure. In case of revision in domestic deposit rates for the same period, this rate will be equivalent to the rate applicable to domestic deposit of 555 days maturity. The interest rate is compounded quarterly.
MIDR / QIDR facility under Cent 555 & Cent 777
- Type of Deposit:Â MIDR/QIDR under Cent 555 & Cent 777
- Minimum Deposit Amount: Rs. 5,000 and in the multiples of Rs. 1,000
- Maximum Deposit Amount: Less than Rs. 1 crore
- Tenure:Â 555 days / 777 days
- Interest Rates:Â As applicable to domestic deposits for similar tenure at present 9.05% p.a. & 9.15% p.a., respectively. In case of revision in domestic deposit rates for the same period, this rate will be equivalent to the rate applicable to domestic deposit of 555 days/ 777 days maturity.
Note:
- Additional interest benefit is not allowed in case of both senior citizens and ex-staff/staff members
- No TDS is applicable
- In case of premature withdrawal, no interest is payable if the deposit is closed before the completion of 1 year.
- Penal interest of 1% to be applied (as applicable) if the deposit is closed before maturity after the completion of 1 year
- Premature withdrawal is not allowed if a loan is availed against the deposit
CENT FCNR (B) Premium Plus Deposit Scheme
- This fixed deposit scheme comes with the facility to book forward contract to convert maturity proceeds of FCNR (B) deposit into Indian Rupee (INR)
- FCNR (B) deposit period:Â 1 year and up to 3 years
- Forward contract tenor:Â 1 year and up to 3 years
- Minimum Deposit Amount:Â Rs 10,000 for USD, GBP & EURO
- No exchange margin on booking forward contract. It offers a higher yield by the way of forward premium.
- Waiver of SWIFT charges for FCNR (B) deposit related transactions
- Issuance/Renewal charges on Rupee Platinum Debit Card are free for a lifetime
- No penal interest for premature closure of deposits after 1 year
- On premature withdrawal of FCNR (B) deposit, forward cover cancellation loss or early utilization charges as the case may be will be applicable
- Conversion of NRE to FCNR (B) and vice versa before maturity will not attract any penalty
- The booking of forward contract is optional and the depositor may or any not utilise this facility based on his requirements. Whereas, the other facilities of this scheme will be available to the customer
- The booking of forward contract can be booked any time during the deposit contract period
- After booking of forward contract, if the depositor opts-out utilization of forward contract on maturity and wish to continue with Foreign Currency only, then the depositor has to cancel the forward contract and any gain/loss will be passed to the depositor
Central Bank of India Loan against Fixed Deposit
Central Bank of India customers can avail of the facility of loan against fixed deposit up to 90% of the principal amount and accrued interest. Customers can visit the nearest bank branch to avail the loan facility.
Central Bank of India Fixed Deposit Rates (Rs.2 crore to Rs.10 crore)
Maturity Period | Rates for General Citizens (p.a.) | Rates for Senior Citizens (p.a.) |
7 -14 days | 5.00% | 5.50% |
15 – 30 days | 5.00% | 5.50% |
31 – 45 days | 5.50% | 6.00% |
46 – 59 days | 5.50% | 6.00% |
60 – 90 days | 4.50% | 5.00% |
91 – 179 days | 5.50% | 6.00% |
180 – 270 days | 6.00% | 6.50% |
271 – 364 days | 6.25% | 6.75% |
1 yr to less than 2 yrs | 6.75% | 7.25% |
2 yr to less than 3 years | 6.00% | 6.50% |
3 yr to less than 5 years | 5.50% | 6.00% |
5 years & above upto 10 years | 5.50% | 6.00% |
*The Central Bank of India FD rates are subject to change at the discretion of the bank. The interest rates given in this table are valid as of 10 April 2023.
Central Bank of India Tax Saving FD Rates
Tenure | Regular FD interest rate (per annum) |
5 years | 6.25% |
*The Central Bank of India FD rates are subject to change at the discretion of the bank. The interest rates given in this table are valid as of 10 April 2023.
Central Bank of India NRE FD Rates (Less than Rs.2 crore)
Tenure | Interest Rate |
1 year to less than 2 years | 6.75% |
2 years to less than 3 years | 6.50% |
3 years to less than 5 years | 6.25% |
5 years to 10 years | 6.25% |
*The Central Bank of India FD rates are subject to change at the discretion of the bank. The interest rates given in this table are valid as of 10 April 2023.
Central Bank of India NRE FD Rates (Rs.2 crore to Rs.10 crore)
Tenure | Interest Rate |
1 year to less than 2 years | 6.75% |
2 years to less than 3 years | 6.00% |
3 years to less than 5 years | 5.50% |
5 years to 10 years | 5.50% |
*The Central Bank of India FD rates are subject to change at the discretion of the bank. The interest rates given in this table are valid as of 10 April 2023.
Central Bank of India FCNR FD Rates
Period Of Deposit | USD | GBP | EUR | CAD | AUD |
1 year to less than 2 years | 5.77 | 3.63 | 2.00 | 4.36 | 3.70 |
2 years to less than 3 years | 5.62 | 4.03 | 2.20 | 5.36 | 4.20 |
3 years to less than 4 years | 5.50 | 4.13 | 2.40 | 5.61 | 4.55 |
4 years to less than 5 years | 5.60 | 4.13 | 2.40 | 5.66 | 4.80 |
5 years only | 5.65 | 4.13 | 2.40 | 5.66 | 4.90 |
Overdue Deposit | 4.77 | 2.63 | 1.00 | 3.36 | 2.70 |
*The Central Bank of India FD rates are subject to change at the discretion of the bank. The interest rates given in this table are valid from April 2023.
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