Product Details
Bank Name
Central Bank of India
Eligibility
All type of customers eligible for opening including NRE customers.
Interest Rate
Up to 7.50%
Tenure
12 months to 120 months.
Fixed Deposit Type
Monthly
Monthly Interest Deposit Receipt (MIDR)
Tax Benefits
None
Credit Ratings
CRISIL A1+
Interest Payment Frequency
Monthly
Cummulative/Non-Cummulative
Non Cumulative
Features
Minimum deposit of 5,000.
There is no limit on the maximum deposit amount.
Premature closure of the deposit is allowed.
Loan facility is available.
Minimum Investment Amount
5,000
Features & Benefits
Pros
Low minimum deposit requirements.
Monthly interest payout.
No limit on the maximum deposit amount.
Cons
The minimum deposit tenure is 12 months.
Pros & Cons
Account Opening Procedure
How to Open?
1. Visit a Branch:
Locate your nearest Central Bank of India branch.
Bring the required documents:
Identification proof (Aadhaar card, PAN card, passport, etc.)
Address proof (utility bill, ration card, etc.)Passport-sized photographs
2. Fill Out the Application Form:
Obtain an FD application form from the bank.
Fill in the necessary details, including:Deposit amount
Tenure (duration of the FD)Nominee details (if any)
Contact information
3. Submit Documents and Deposit Funds:
Submit the completed application form along with the required documents.
Deposit the desired amount for your FD.
4. Receive the Fixed Deposit Receipt (FDR):
Once the process is complete, you will receive an FDR as proof of your investment.
Application Procedure
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