Central Bank's Special FD for Senior Citizens: Earn 8.05% Interest on a 777-Day Deposit

Best FD Option for Senior Citizens: Get 8.05% Interest on a 777-Day Deposit
If you have senior citizens at home looking for a safe and high-return investment, the Central Bank of India has introduced a special Fixed Deposit (FD) scheme. The Cent Garima Term Deposit Scheme offers an 8.05% interest rate for senior citizens on a 777-day tenure, making it an attractive option for those seeking guaranteed returns without market risks.
Key Features of Cent Garima Term Deposit Scheme
✔ Tenure: 777 Days (Approx. 2 Years & 1.5 Months)
✔ Interest Rate:
- For General Public: 7.55%
- For Senior Citizens: 8.05% (Additional 0.50%)
✔ Minimum Deposit: ₹10,000
✔ Maximum Deposit: ₹10 Crore
✔ Loan Facility: Up to 90% of the deposit amount available as a loan
✔ Premature Withdrawal: Allowed, but 1% penalty applies
How Much Will Senior Citizens Earn on ₹1 Lakh FD?
💰 Investment Amount: ₹1,00,000
📈 Interest Rate: 8.05%
⏳ Tenure: 777 days
➡ Total Interest Earned: ₹18,490
➡ Maturity Amount: ₹1,18,490
For comparison, general investors earning 7.55% interest will get ₹17,260 interest and a total maturity amount of ₹1,17,260.
Loan Facility on FD
✅ You can avail a loan of up to 90% of your FD amount.
✅ The loan interest rate is 1% higher than the applicable floating rate.
✅ If you have taken a loan on the deposit, premature withdrawal is not allowed.
✅ Nomination facility is available.
How to Apply for This FD?
🖥 Online: Apply via Net Banking, Mobile Banking.
🏦 Offline: Visit any Central Bank of India branch.
📌 Note: Premature withdrawal will attract a 1% penalty on the applicable interest rate.
This Cent Garima Term Deposit Scheme by the Central Bank of India is an excellent choice for senior citizens looking for secure and high-yield investment options. If you or your family members are interested, act now and make the most of this 8.05% FD scheme! 🚀
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