Central Bank of India RD Calculator | Central Bank of India RD Interest Rates 2017

Here is the Central Bank of India RD Calculator to make you know the maturity amount on your recurring deposit. We have also provided the Installment calculator for Central bank of India RD and the updated Central Bank of India RD Rates of Interest. So, make use of the information to know your maturity amount using Recurring deposit calculator Central Bank of India.

Central Bank of India RD Calculator

Computation of the maturity and interest that you earn on recurring deposit manually is a time taking process. So, to make this an easy task, here is our Online RD Calculator. Usage of this RD calculator of Central Bank of India is very easy for the customers. Just you have to enter the details of investment, duration, the frequency of compounding, etc. Meanwhile, the calculator processes the details and give you the maturity amount which you will receive at the end of tenure.

So, the Central Bank of India RD Calculator aids you in deciding the amount of money to invest. You can make use of this Central Bank of India Recurring Deposit Calculator as many times you want. Additionally, here is another helping aid for you. The Central Bank of India RD Installment Calculator helps you to calculate the installment amount to get certain maturity amount. Below are the ways of using Central Bank of India RD Calculator.

How to Use Central Bank of India RD Interest Rate Calculator?

  1. Click on the below link to CBI RD Calculator.
  2. The Central Bank of India RD Calculator appears on your screen.
  3. Enter the details of investment, duration, Central Bank of India rates of interest, the frequency of compound interest, etc.
  4. Recheck for any improper detail entry.
  5. Then click “continue.”
  6. The maturity amount you will get by the end of tenure duration appears on your screen.

To use the Central Bank of India RD Calculator, click the below link.

Central Bank of India RD Rates Calculator

How to Use CBI RD Installment Calculator?

  1. Click the below link to Central bank of India Recurring deposit installment calculator.
  2. The RD installment calculator of Central bank of India appears on the screen.
  3. Enter your details of maturity amount, the rate of interest of CBI on RD, compounding frequency, duration.
  4. Check whether the details are correct or not and then click on continue.
  5. The monthly investment you need to deposit appears on your screen.

To use the Central Bank of India Recurring Deposit Installment Calculator, click the below link.

Central Bank of India Installment Calculator

Central Bank of India RD Calculator

Central Bank of India Interest Rates on Recurring Deposit

RD Rates in Central Bank of India for CENT Swa-Shakti Flexi RDS
Maturity period CBI Interest Rates for
general
CBI Interest Rates for
senior citizens
7 Days to 14 Days 4.00% 4.50%
15 Days to 30 Days 4.25% 4.75%
31 Days to 45 Days 4.25% 4.75%
46 Days to 59 Days 4.75% 5.25%
60 Days to 90 Days 4.75% 5.25%
91 Days to 179 days 6.50% 7.00%
180 Days to 270 Days 6.50% 7.00%
271 Days to 364 Days 6.50% 7.00%
1 Year to below 2 Years 7.00% 7.50%
2 Years to below 3 Years 6.90% 7.40%
3 Years to below 5 Years 6.90% 7.40%
5 Years to 10 Years 6.90% 7.40%
555 Days 7.00% 7.50%
777 Days 7.00% 7.50%

Central Bank of India Recurring Deposit Interest Rates

Recurring Deposit Rates in CBI – CENT Lakhpati RD scheme
Maturity Period Rate of Interests
1 Year 7.00%
2 Years 6.90%
3 Years 6.90%
4 Years 6.90%
5 Years 6.90%
6 Years 6.90%
7 Years 6.90%
8 Years 6.90%
9 Years 6.90%
10 Years 6.90%

For the CENT millionaire RD scheme, the rate of interest for ten years is 6.9%.

To know the interest rates of other banks, click the below link.

Recurring deposit Interest Rates of All Banks

Central Bank of India Recurring Deposit

The Central Bank of India is one of the largest commercial banks in India. The year of foundation is 1911 and which was the first bank wholly owned and under the control of Indians. CBI is a public sector bank which has its pan-India presence and has around 4336 branches in 3 Union territories and 27 states all over the country. Central Bank of India provides the financial products and services including credit cards, recurring deposits, fixed deposits, agri banking, NRI banking, MSME, etc. It also provides the Central Bank of India RD Calculator to know your maturity amount.

Additionally, the central bank of India offers a number of recurring deposit schemes to its customers. Features of these Central Bank of India Recurring Deposit schemes are a low installment, flexible tenures, higher rates of interests, etc. So, look at the recurring deposit schemes of Central Bank of India in the following section.

To know more information on Recurring Deposit, click the link below.

Features of Recurring Deposit

Central Bank of India RD Schemes

Various recurring deposit schemes offered by CBI are as follows.

CENT Swa-Shakti Flexi RDS

This scheme of recurring deposit in Central Bank of India provides flexibility in depositing the amount on their choice. It also offers higher interest rates on the investment. The scheme allows the customers to deposit additional funds within a month.

Features of CENT Swa-Shakti Flexi RDS
  • The tenure duration ranges from 6 months to 10 years.
  • A Minimum amount you should invest in this scheme every month is Rs.100 and further in the multiples of Rs.100.
  • Mode of installment payment may be through net banking, transfer from a branch, ECS, cash, (SWEEP) standing instruction facility.
  • Tax Deduction at Source is not available on the deposit amount.

CENT Lakhpati RD Scheme

This scheme is also known as ‘Jab Chaho Lakhpati Bano’ scheme. It provides the opportunity to earn more than Rs.1 Lakh within a period of 10 years. Below are the CBI RD interest rates in CENT Lakhpati scheme.

Features of CENT Lakhpati RD Scheme
  • The initial monthly deposit one should pay in this scheme is Rs.7940 which further gradually decreases as you keep on paying the installments.
  • The Central Bank of India RD rate of interest is as high as 9.05%.
  • Additionally, the scheme offers extra benefits to senior citizens who are above the age of 60 years.

CENT Millionaire Recurring Deposit Schemes

The Central Bank of India Recurring Deposit scheme provides an opportunity to earn nearly Rs.1million (10 lakhs) in a tenure period of 10 years.

Features of CENT Millionaire scheme
  • Customers are flexible in opting this RD scheme with a monthly installment of Rs.5250.
  • No Tax Deduction at Source on the amount deposited.
  • The Central Bank of India interest rate of this scheme is as high as 9.05% for 2nd, 3rd, 4th years of maturity.

Personal Accident Cover Recurring Deposit

This Central Bank of India recurring deposit scheme comes with a personal accident cover. The scheme is applicable for the account holders with age above 65 years.

Features of CBI Recurring Deposit
  • This CBI recurring deposit account offers a minimum coverage of Rs.25,000 and a maximum coverage of Rs.5,00,000.
  • If yours is a joint account, then the policy covers only the first account holder in the joint account list.
  • The minimum monthly deposit is Rs.500.

Central Bank of India RD Account Opening

  1. Existing CBI account holders can easily open the Recurring Deposit account.
  2. Log on to your Central Bank of India account.
  3. Search for Central Bank of India recurring deposit form and then download it.
  4. Fill your details in the CBI account opening form carefully.
  5. Link this form to your savings or current account in Central Bank of India.
  6. Then through internet banking add the minimum deposit to your RD account.
  7. Hence, your Recurring Deposit account in the Central Bank of India gets activated.

If you do not hold an account in CBI, then you need to visit the nearest branch of Central Bank of India and get the RD application form. Fill in the details and attach your KYC documents to the form. So, the list of documents you need to attach is the following.

  • Address proofs
  • Identity proofs
  • Passport size photographs
  • PAN
  • Some other documents as asked by the bank.

Know more details on RD account opening procedure in Central Bank of India in the below link.

How to Open Central Bank of India RD Account?

Eligibility for Central Bank of India Recurring Deposit

The following list of persons is eligible to open a recurring deposit account with Central Bank of India.

  1. Single person.
  2. Two individuals who make a joint account.
  3. Sole proprietorships.
  4. Partnerships.
  5. Corporations.
  6. HUFs
  7. Minors above the age of 10 years under the guardians.
  8. Trusts, societies, and clubs, etc.

Penalties on RD Premature Withdrawals

A penalty on premature withdrawals or any late payments of installments has no effect on CENT Swa-Shakti Flexi RDS. However, the premature withdrawals and late payments apply to the other recurring deposits schemes in Central Bank of India.

Updated: March 21, 2017 — 9:04 am

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