Central Bank of India’s new RD scheme: ‘Centswashakti’
By Neelima Shankar
Aug 13, 2012
Print    Email    RSS   

The Mumbai based bank, Central Bank of India, has introduced a new scheme in the retail deposits segment. The scheme, called ‘Centswashakti', is a recurring deposits scheme which provides the depositors convenience and freedom to deposit an amount which is up to 10 times of the pre decided monthly minimum amount. In addition to this, the amount can be deposited more than once during a month.

The recurring deposits scheme has tenures varying between a minimum of 6 months to a maximum of 120 months. The interest rates provided on the scheme will be computed daily and will depend on the existing term deposit card rate of the bank. It will be credited to the respective accounts once every 6 months.

(Comments Posted : 10) Post Your Comments
1. I am senior citizen and central bank customer .I want to know the details of new RD SCHEME .
1. TDS deduction
2. Any penalty if i discontinue RD secheme in half way due to unavoidable condition..
3. Pl let me know if I deposit amount Rs 7940 per month as per your scheme for a year as a senior citizen ,what maturiuty amount i will get after one year.
2. if Rs 3800 for two years .What will be total Maturity amount.
3. If Rs 2450/- , for 3 years ,what will be total maturity amt.
In your table maturity amount is not shown
4. What are the terms and conditions.
Is there any hidden T & C .then
let me know Pl. Thanks. ( P.K.Chhatwani)
P.K.CHHATWANI (Posted: Jul 17, 2014)
2. Deposit Rs. 1500000/- for F.D. period 5 years senior citizen scheme and Rs. 1000/- invest in R.D. for 5 years. please send the rate of interest and maturity value.
P. U. Danej (Posted: Jul 4, 2014)
3. dear sir i want to know that is there TDS system applied or not in centswashakti reccuring scheme or tds cut or not like other fdr scheme sms to me 0n +91 94299 74049 mob.iam living in bhavnagar gujarat
MUKESH JOSHI (Posted: May 4, 2014)
Show All Comments
 Select a product:

 Select a product:

Recurring Deposits or Systematic...
An Overview of Wealth Management Services...
Plan your tax, don’t evade it
ICICI Bank’s recurring deposit scheme
Carnival of Indian Personal Finance Blogs #4

how can i find status of my SBI TDR/STDR my bank...
I am interested for DSA of SBI products avaialable...
as sr citizen i deposit 40lacs i want to know how...
Escorts in panchkula......9872814230???
I was deposit Rs,200000,00 by Mis self sbi saving...

Registration for the common banking entrance exam have started Jul 24, 2014
New Corp excel branch in Bangalore Jul 23, 2014
EPFO to allot universal account number to its members Jul 22, 2014
Home Financer HDFC and HDFC bank may go for a merger Jul 22, 2014
Development and growth of BMB bank Jul 21, 2014
News Archive