Central Bank of India Saving Account

Central Bank of India Saving Account

The Central Bank of India is a major public sector bank in India, serving a vast customer base. To provide for this diverse clientele, the bank offers various types of savings accounts.

Here we explore the different types of savings accounts provided by the Central Bank of India, along with their interest rates and account opening processes.

Types of Savings Accounts at the Central Bank of India

Here are the various savings accounts offered by the Central Bank of India:

Central Bank of India Cent Premium

Targeted at high net worth individuals, this account offers a higher interest rate of 3% p.a., free demand drafts, and a free personalized cheque book. A minimum balance of Rs. 1 lakh is required.

Central Bank of India Cent Param

This salary account is ideal for salaried individuals, offering features like zero balance, free ATM withdrawals, and complimentary internet banking. The interest rate is 2.75% p.a.

Central Bank of India Cent Balbhavishya

Designed for children, this account offers a higher interest rate of 4% p.a., no charges for the first 25 transactions, and free ATM withdrawals.

Central Bank of India Cent Bachat Khata

"Bachat" means "savings" in Hindi, making this account ideal for low-income individuals. It requires a minimum balance of Rs. 50. Account holders can withdraw money from any Central Bank of India ATM without charges. The interest rate is 2.75% p.a.

Central Bank Cent Samarth Savings Account

This account is tailored for salaried employees, requiring zero balance and zero maintenance charges. It also offers a pre-approved overdraft facility and comes with a RuPay Platinum debit card with no issuance or renewal fees.

Central Bank of India Savings Account Interest Rate

Refer to the table below for the latest interest rates on Central Bank of India savings accounts:

Note: The interest rate on Central Bank of India savings accounts is subject to change. Source: Central Bank of India official website.

Opening a Central Bank of India Savings Account Offline

Step 1: Head to the closest Central Bank of India branch.

Step 2: Obtain the account opening form from the branch.

Step 3: Complete the form accurately, using block letters if possible.

Step 4: Submit the completed form.

Step 5: After document verification, the bank will issue a welcome kit with your account details, a debit card, and other information.

Step 6: You will also receive instructions to activate your account, set up internet banking, and access other services.

Remember to bring original documents for verification purposes.      

Central Bank of India Saving Account Opening Online

Step 1: Go to the official website of the Central Bank of India (https://www.centralbankofindia.co.in/).

Step 2: Navigate to ‘Digital Banking’ and select ‘Online Saving Account Through Video KYC’ within the ‘Apply Online’ section. (refer to the image above)

Step 3: Enter all necessary details including your name, date of birth, contact information, and other relevant information in the online application form.

Step 4: Opt for the “Video KYC” option for document verification and follow the on-screen instructions to complete the process.

Step 5: After successfully completing the Video KYC, submit the application form.

Step 6: Once your application is processed and approved, the bank will dispatch a welcome kit containing your account details, ATM card, and other pertinent information to your registered address.

Ensure you have a valid Aadhaar card, PAN card, and a smartphone with a stable internet connection before initiating the savings account application via Video KYC.

Documents Required for Central Bank of India Savings Account Opening

You'll need the following documents to open a savings account with the Central Bank of India:

• PAN Card
• ID Proof and Residence Proof (e.g., Passport, Driving License)
• Job card issued by NREGA, duly signed by a State Government officer
• Letter from the National Population Register containing your name and address
• Passport-sized photographs

Note: This list may not be exhaustive.

Check the bank’s website or contact customer care for a comprehensive list of required documents before applying for a savings account through Video KYC.

Central Bank of India Savings Account Minimum Balance

The table below displays the minimum balance required for various savings accounts at the Central Bank of India:

Central Bank of India Customer Care Number

The Central Bank of India offers several customer care options, including toll-free numbers for different purposes:

• General Customer Support (24 hours): 1800 202 1911
• Alternate Customer Support Number: 1800 22 1911
• Pensioner Support: 1800 203 1911

You can find this information on the Central Bank of India's website under the "Customer Care" section https://www.centralbankofindia.co.in/en/customer_care.