This 112 year old PSU bank revises FD rates, senior citizens can earn as high as 7.25% effective from April 10
2 min read . Updated: 08 Apr 2023, 03:26 PM IST
Premium- Established in 1911, Central Bank of India has revised its interest rates on fixed deposits of less than ₹2 Cr.
Established in 1911, Central Bank of India has revised its interest rates on fixed deposits of less than ₹2 Cr. For deposits maturing in the next seven days to ten years, this 112-year-old PSU bank is now providing interest rates ranging from 4.00% to 6.25% for the general public and 4.50% to 6.75% for senior citizens. As a consequence of this modification, deposits maturing in one year to less than two years will now earn a maximum interest rate of 6.75% for non-senior citizens and 7.25% for elderly individuals. The latest FD rates of Central Bank of India are effective as of 10.04.2023.
Central Bank of India FD Rates
On deposits maturing in 7 - 14 days, the bank will offer an interest rate of 4.00% and on those maturing in 15-45 days, Central Bank of India will now offer an interest rate of 4.25%. The interest rates offered by the Central Bank of India are presently 4.50% for deposits held for 46 to 90 days and 5.00% for deposits held for 91 to 179 days.
Deposits maturing in 180 to 364 days will now fetch an interest rate of 5.50% and those maturing in 1 year to less than 2 years will now fetch an interest rate of 6.75%. On fixed deposits maturing in 2 years to less than 3 years, the bank will offer an interest rate of 6.50% and on those maturing in 3 years to 10 years, Central Bank of India will now offer an interest rate of 6.25%.
As of December 2022, the bank has a presence in all of India with a network of 4493 branches, 65.21% (2930 branches) of which were in rural and semi-urban regions, 3264 ATMs, and 10765 BC Points, for a total of 18522 Touch Points. In comparison to the same 12-month period concluded in December 2021, the number of digital transactions using Internet banking, mobile banking, IMPS, and UPI grew by 47% for the 12-month period ending in December 2022 (Jan. 22–Dec. 22).