Even after a 1.25 percent cut in the repo rate this year, many banks are still offering attractive returns on fixed deposits.
While FD interest rates usually fall when the RBI reduces the repo rate, some government banks continue to provide good options for safe investment.
One such option is the Central Bank of India, where you can earn fixed interest of up to ₹21,341 by depositing just ₹1 lakh.
Central Bank of India FD Interest Rates
The Central Bank of India is a public sector bank and offers FD interest rates ranging from 3.00 percent to 6.80 percent.
You can open an FD for a minimum period of 7 days and a maximum of 10 years.
For special FD schemes of 444 days and 555 days, the bank offers up to 6.30 percent interest for general citizens and 6.80 percent for senior citizens.
For a 3-year FD, the interest rate is 6.00 percent for general citizens and 6.50 percent for senior citizens.
Returns on ₹1 Lakh Fixed Deposit
If a general citizen invests ₹1,00,000 in a 3-year FD with the Central Bank of India, the total amount received on maturity will be ₹1,19,562.
This includes an interest earning of ₹19,562.
For senior citizens, investing the same amount for 3 years will result in a maturity value of ₹1,21,341.
This means a fixed interest gain of ₹21,341.
Why This FD Is a Safe Choice
Since the Central Bank of India is a government-owned bank, your investment remains safe and secure.
Fixed deposits offer guaranteed returns, and you receive both the principal amount and the interest at maturity.
For investors looking for a low-risk and stable return, this FD scheme can be a reliable option, especially during uncertain market conditions.