Cent Garima Term Deposit Scheme: A large section of Indians prefer fixed deposit (FD) schemes that offer fixed income and guaranteed returns. In this series, Cent Garima Term Deposit Scheme is a special fixed deposit (FD) scheme, which has been introduced by the Central Bank.
Cent Garima Term Deposit Scheme : If you like to invest in Fixed Deposit (FD) scheme, then the Central Bank has a special fixed deposit scheme for you. In this, you will have to deposit the amount only for 777 days and then you will start getting guaranteed returns of 7.55 percent. The name of this term deposit scheme is Cent Garima Term Deposit Scheme. Let us tell you the special things related to this scheme.
Any Indian citizen can invest in Cent Garima Fixed Deposit Scheme. NRIs can also avail the benefits of this scheme. Keep in mind that the period of 777 days for deposit can neither be reduced nor extended. The main attraction of this scheme is the interest rate available at 7.55 percent. This interest is much better than the interest available on FDs of many banks.
Better facilities for senior citizens:
On the Cent Garima Fixed Deposit Scheme, senior citizens also get the benefit of additional interest rate of 0.50 percent like many other fixed deposit schemes. In such a situation, they will get more than 8 percent interest in this scheme.
If you want to invest in this scheme then you can deposit minimum Rs 10,000 and maximum Rs 10,00,00,000. If you withdraw the amount before maturity, you will have to pay a penalty of 1 percent.
Loan facility is also available:
You also get loan facility on this (Cent Garima Fixed Deposit) scheme of Central Bank. You can take up to 90 percent of your deposit as loan. The interest rate on the loan amount will be 1.00 percent more than the applicable floating interest rates.
In cases of MIDR, QIDR, FDR, the interest amount will be credited to the loan account. If you have taken a loan against the deposited amount, you will not get the facility of premature withdrawal. You also get the facility of nomination in the scheme.
How to take advantage? (Cent Garima Term Deposit Scheme)
-If you want to avail the benefit of this scheme then you can buy it through online/net banking/mobile banking.
-You can also open an account offline by visiting the bank branch.
-All the necessary documents required at the time of opening an account will have to be submitted.
-Apart from this, read the existing terms and conditions related to the scheme carefully, so that there is no problem in future.
