How to find the best rates for Central Bank Of India Fixed Deposit
Central Bank of India (CBI) is a well-known public-sector bank in India. As part of its retail banking portfolio, it provides fixed deposit schemes at varying tenors and competitive interest rates.
FD rates change when there is a movement in the market rate cycle or when there is a change in a banks liquidity requirements. This makes it very hard for customers or potential investors to track earnings or determine which scheme provides the best returns vis-a-vis other banks.
The above table reflects the latest interest rates on CBIs fixed deposits, accounting for any and all changes made by the bank. This enables real-time comparison of maturities across all deposit schemes.
Central Bank of India Short-Term FD Rates
The shortest period of holding is 30 days for which the interest rate stands at 6%. It is enhanced by 1.5% for holdings of 60 and 90 days to 7.5%. Returns on a 120-day scheme is 8.2%. This is decreased, marginally, to 8.0% for holdings of 6 and 9 months.
Central Bank of India Medium and Long-Term FD Rates
Rates are highest on tenors of 1 and 1.5 years at 8.75% and are lower by 0.25% on tenors of 3 years and above (up to 5 years) at 8.50%.
Central Bank of India Senior Citizen FD Rates
FD interest rates are increased by 0.5% on all existing rates for deposit-holdings by senior citizens. This puts returns for senior citizens in the range of 6.5% to 9.25%.
CBIs FD rates are comparably more attractive for short and medium-term holdings when compared to other banks with similar products.
The above interest rates are on a per-annum basis and compounded quarterly.
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