The Central Bank of India provides the interest rates such that they highly differ from one another according to their terms. The best to go term is 1-2 years. This term provides the maximum interest rates 7.00 percent.
The rates offered in other cases are also fine enough say for over two years a maximum of 7.00 percent and a mere 6.90 percent for less than a year.
For Union Bank of India: Union Bank of India Fixed Deposit interest rates
The interest rates for this financial instrument are more than savings account rates but they lack in providing liquidity. Although one can have loan on them but one cannot withdraw whatever amount they like whenever they want. Here is detail information on Central bank of India Fixed deposit interest rates. The below interest rates are effective form 2 December, 2016.
Central Bank of India Fixed deposit interest rates in detail:
|TIME PERIOD||INTEREST RATES (% p.a.)|
|For Deposits Below 1 Crore||For Deposits 1-10 Crore|
|7 – 14 Days||4.00||4.00|
|15 – 30 Days||4.25||4.25|
|31 – 45 Days||4.25||4.25|
|46 – 60 Days||4.75||4.75|
|61 – 90 Days||4.75||4.75|
|91 Days – 180 Days||6.50||4.75|
|181 Days – 270 days||6.50||4.75|
|271 Days – 1 year||6.50||5.00|
|1 Year – 2 Years||7.00||5.50|
|2 Years – 3 Years||6.90||5.50|
|3 Years – 5 Years||6.90||5.50|
|5 Years – 10 Years||6.90||5.50|
|Above 10 Years||6.90||NA|
NRE Term Deposit Rates:
|Period||Below 1 crore (% p.a.)||1-10 crore (% p.a.)|
Updated: 19 January, 2017
From table you can see, Central Bank of India provides good interest rates for time interval 1 to 2 years which is quite similar to state bank of India interest rates.
- You need to take Treasury Central Office for deposit above 10 crores.
- No additional interest benefit for senior citizens and staff in case of NRE deposits.
- No interest will be paid if you will withdraw amount before 1 year. For above one years, 1% penalty will be charged.
Please confirm details from official website @https://www.centralbankofindia.co.in/English/interestrate.aspx