A renowned public sector bank, Central Bank of India is offering its customers with some attractive fixed deposit plans of different tenures and interest rates. You can get information about best fixed deposit rates and all Central Bank FD rates at loanbaba.com. The fixed deposit rates may fluctuate according to the bank's market conditions and the liquidity requirements.
Thus, if you are looking to invest in some profitable FD India, you have to be very careful as it is difficult to track the fluctuations. It is important that you know the current FD rates of Central Bank, before investing in the same.
For the tenure of 30 days, which is the shortest period of holding, one can avail the interest rate of 6%, and it gets a 1.5% increment to become 7.5% for the holding period of two and three months. For the short-term FD, the highest returns of 8.2% can be availed for the holding term of four months. But, it is eventually decreased to 8% for the tenures of six and nine months.
For the holding period of 1 and 1.5 years, the interest rates are higher, and one can avail the maximum of 8.75% per annum. However, it is generally lowered to 8.50% per annum for the holding period of three years and above to five years.
From the above-mentioned interest rates, the senior citizens are benefitted with an extra 0.5% on the interest rates for their tenures. Therefore, the returns on FD, India for the senior citizens by the Central Bank on their tenures hover around 6.5% to 9.25% per annum.
When compared to other financial institutions providing the similar plans and schemes, CBIs short term deposit and mid-term tenures are more attractive.
Kindly Note: The FD interest rates mentioned compounded quarterly are on a yearly basis.
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