New fixed deposit scheme by Central Bank of India : Rupee Times

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NEWS & ADVICE : FIXED DEPOSITS

New fixed deposit scheme by Central Bank of India

By Neelima Shankar

Sep 1, 2011

Public sector lender Central Bank of India has introduced a special fixed deposit scheme to attract huge customer segment towards it.

The scheme is indeed a lucrative one with an interest of 13.33% for deposit tenor of 7.5 years.

With the name of 'Cent Double' it indeed offers to double the money deposited by the customer.

It is a limited period offer valid only from September 1 to December 31, 2011.

The interest rate has been fixed at 14.93% for senior citizens for tenor of 7 years 3 months.

The minimum deposit amount for metro cities and urban cities is Rs 10,000 while for semi urban areas is Rs 5000.


(Comments Posted : 2)		Post Your Comments

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CafCOKsmems (Posted: Aug 20, 2013)

2.	Equalised annual yield (based on CAGR formula) would be 9.68% p.a. Just adding yearly annual returns to get 13.33% is ignores the time value of money.
ankur (Posted: Sep 1, 2011)

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