Deposit ₹1,00,000 in Central Bank of India and earn a fixed interest of ₹21,341
Central Bank of India: Even after a 1.25% reduction in the repo rate this year, Central Bank of India continues to offer competitive interest rates on fixed deposits. Since FD rates usually move in line with RBI repo rate changes, these schemes remain attractive for investors looking for safe and guaranteed returns.
Central Bank of India, a government-owned bank, allows customers to open FD accounts for periods ranging from 7 days to 10 years, with interest rates between 3.00% and 6.80%. The bank offers its highest rates under special FD tenures of 444 days and 555 days, providing 6.30% interest to general citizens and 6.80% to senior citizens.
For long-term investors, the bank also offers a 3-year FD scheme with an interest rate of 6.00% for general citizens and 6.50% for senior citizens.
On depositing ₹1,00,000 for 3 years, general citizens receive ₹1,19,562 at maturity, earning ₹19,562 as interest. Senior citizens earn higher returns, receiving ₹1,21,341, which includes ₹21,341 in fixed interest.
Being a government-owned bank, Central Bank of India ensures complete safety of the invested amount, along with guaranteed returns at maturity, making it a reliable option for risk-averse investors.
