This new scheme is called the 'Immune India Deposit Scheme'

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State-run Central Bank of India has launched a special deposit scheme offering an additional interest rate of 25 basis points above the applicable card rate for those who get vaccinated in order to encourage people to get COVID-19 jabs.

This new scheme is called the 'Immune India Deposit Scheme' which has a maturity of 1,111 days, and is for a limited period. Senior citizens are eligible for extra interest as applicable, a release said.

"To encourage Vaccination under COVID 19, Central Bank of India launches Special Deposit Product “Immune India Deposit Scheme" for 1111 days at an attractive extra Interest rate of 25 basis points above the applicable card rate for Citizens who got Vaccinated," the bank said in a tweet.

To encourage Vaccination under COVID 19, Central Bank of India launches Special Deposit Product “Immune India Deposit Scheme” for 1111 days at an attractive extra Interest rate of 25 basis points above the applicable card rate for Citizens who got Vaccinated.#Unite2FightCorona pic.twitter.com/MKEJaHgMpE

— Central Bank of India (@centralbank_in) April 12, 2021

The lender has requested citizens to vaccinate against the virus and avail its attractive offer which is for a limited period. Senior citizens are eligible for extra interest as applicable, it added.

Immune India deposit scheme

COVID-19 Vaccine

Frequently Asked Questions

How does a vaccine work?

A vaccine works by mimicking a natural infection. A vaccine not only induces immune response to protect people from any future COVID-19 infection, but also helps quickly build herd immunity to put an end to the pandemic. Herd immunity occurs when a sufficient percentage of a population becomes immune to a disease, making the spread of disease from person to person unlikely. The good news is that SARS-CoV-2 virus has been fairly stable, which increases the viability of a vaccine.

How many types of vaccines are there?

There are broadly four types of vaccine — one, a vaccine based on the whole virus (this could be either inactivated, or an attenuated [weakened] virus vaccine); two, a non-replicating viral vector vaccine that uses a benign virus as vector that carries the antigen of SARS-CoV; three, nucleic-acid vaccines that have genetic material like DNA and RNA of antigens like spike protein given to a person, helping human cells decode genetic material and produce the vaccine; and four, protein subunit vaccine wherein the recombinant proteins of SARS-COV-2 along with an adjuvant (booster) is given as a vaccine.

What does it take to develop a vaccine of this kind?

Vaccine development is a long, complex process. Unlike drugs that are given to people with a diseased, vaccines are given to healthy people and also vulnerable sections such as children, pregnant women and the elderly. So rigorous tests are compulsory. History says that the fastest time it took to develop a vaccine is five years, but it usually takes double or sometimes triple that time.

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Vaccinated? This bank offers higher interest on fixed deposit if you get COVID-19 vaccine

The 'Immune India Deposit Scheme' has a maturity of 1,111 days, and is for a limited period. Senior citizens are eligible for extra interest as applicable.

This new scheme is called the 'Immune India Deposit Scheme'

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