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Fixed Deposit Receipt (FDR)

Heading Details
1. Purpose A Short term deposit to enable depositors to earn
more rate of interest which is applicable for term
deposit. Accordingly depositor can choose the
period ( in number of days) as per their choice.
2. Who can open the Account :
  1. A person in his individual capacity.
  2. More than one person in their joint names
  3. A minor jointly with a major
  4. A minor over the age of 12 years who can read and write and operate the account personally.(Maturity value should not exceed Rs.50000/-)
  5. Charitable and educational institutions.
  6. HUF
  7. Blind Persons
  8. Illiterate persons
  9. Private Traders,Merchants,Agents,Professionals Partnerships Firms,Companies Clubs,Societies & Corporates.
3. Documents required for opening of FDR Accounts:
  1. For identifications Proof(any one of the following)
    1. Passport
    2. UID ( Adhar Card )
    3. Driving Licence
    4. Voter ID Card
    5. Pan Card
    6. Govt. / Defense ID card
    7. ID Card issued by Reputed employer
  2. For address Proofs (any one of the following).
    1. Electricity Bill
    2. UID ( Adhar Card )
    3. Telephone Bill
    4. Salary Slip
    5. Bank account statement
    6. Letter from a reputed employer
    7. Letter from any recognized public authority /local body
    8. Income tax / wealth tax Assessment order
  3. Proof of Date of Birth ( Applicable for Senior Citizens & Minor only)
    1. For Senior Citizens( any one of the following)
      • Passport
      • Voter ID Card
      • Driving License
      • PAN Card
      • Service Discharge Certificate
      • PPO in case of Pensioner
    2. For Minors :
      • Birth Certificate issued by GramPanchayat/NAC(Notified Area Committee) / Municipal Corporation
  4. Two recent passport size photographs of account holders (The above requirements are waived if the customer is already an account holder of the Bank)
4. Amount of Deposit. Min. Rs 100/- & thereafter in multiples of Rs.100/-

5. Period of Deposit: Min. 7 days Max 120 months.
6. Interest : Simple interest is payable /credited in the account at half yearly intervals in March & September every year or on maturity of the deposit, whichever is earlier.
7. TDS TDS deducted as per IT rules on interest earned more than Rs.10000/- per annum. Those who will be submitting Form 15H/ 15G, No TDS will be deducted.
8. Nomination Facility: Nomination facility is available
9. Introdcution: The introducer should be bank’s account holder and acceptable to the Bank. He should sign the Bank’s form in token of his verifying the identity of the applicant. It is must that the introducer should know the intending customer. Confirmed staff member who has put in 5 years of service also can introduce the account holder.(The above requirement are waived if the customer is already an account holder of the Bank).
10. Deposit Certificate After depositing the amount customer will be issued a printed certificate ( FDR ) with full particulars filled in such as CIF Number, Date of deposit, Deposit Account Number, Name of depositor/s, amount of deposit, Period, Due date of deposit, Interest Rate etc.
11. Premature Payment Payment before maturity will be available as per the prevailing rules. (1) Penal Interest @1% will be charged on premature withdrawal of FDR deposit of above Rs. 5 lac. (2) Upto Rs. 5 lac, no penal interest is charged on premature withdrawal of FDR deposit.
12. Payment on Maturity On maturity, Payment can be made in cash to the customer up to Rupees Twenty thousand . If the amount is more than Rupees Twenty thousand either it is credited to the account of customer or Demand Draft is issued.
13. Renewal The deposit can be auto renewed on date of maturity as per instructions.
14. Loan/Advance against Deposit Loan / Advance facility is available under the scheme up to 90% of the deposit amount. ROI is charged as per Bank’s rules.

Deposit Account Opening Form

For Individual (Click This Link For Detailed Instructions)
Click Here To Download

KYC Information

Click Here To Download

Part I

Customer Information Form
Click Here To Download

Part II

Deposit Account Opening Form
Click Here To Download


  • What is FD account? What is it meant for?

  • FD is a fixed deposit account to earn higher interest, normally above Savings Deposit, for a longer period.  FD can be for days or months or years.

  • What is the minimum and maximum period for which I can open FD account?

  • Fixed Deposit can be opened for minimum of 7 days and for maximum of 10 years.

  • Which are the reinvestment or cumulative interest schemes with Central Bank of India?

  • In reinvestment or cumulative plan interest is compounded quarterly and reinvested with principal amount.  Maturity of these fixed deposits range from 6 months to 10 years. In our Bank the scheme is popularly known as ‘ MMDC’ i.e. Money Multiplier Deposit Certificate.

  • What are the other types of deposit schemes in Central Bank of India?

  • Apart from MMDC, we are offering MIDR (Monthly Interest Deposit Receipt) & QIDR (Quarterly Interest Deposit Receipt), Cent Double, etc.  We have also some unique schemes which are offering special rates of interest, like Cent Super – 555 Days, Cent 777 Days. You can also open Cent Tax Saving Deposit for saving on your tax liabilities subject to minimum of Rs.100/- and maximum of Rs.1,50,000/- during a Financial Year at the same rate of interest as applicable to normal deposit of 5 years term.  For additional details please refer highlights and Ads of our Cent Tax Saving Deposit Scheme on Website.

  • How can I open a FDR/MMDC/MID/QID?

  • Existing owners of Central Bank of India Savings Account may book a FD/MMDC/MID/QID by visiting the nearest branch or do it online.  Even if you are not having Savings Account with us, you may open FD account with us after complying with KYC norms.

  • What is the minimum deposit amount required for opening FD / MMDC / MID / QID account?

  • The minimum amount required for opening a FD/MMDC is Rs.100/- while in MID/QID it is Rs.5,000/-

  • At what frequency will I receive interest on my FD/MID/QID?

  • For the schemes FD/MID/QID interest amount is credited to the Savings account specified by you on maturity/monthly/quarterly basis.  For the reinvestment scheme (MMDC), interest is added to the principal amount on quarterly basis.  If you desire to receive interest on monthly basis, please invest the amount in MID (Monthly Interest Deposit).  If you require payout of interest on quarterly basis then invest in QID (Quarterly Interest Deposit)

  • Do Senior citizens get any extra benefit on Fixed Deposits/MMDC/MID/QID?

  • Yes, they do get extra benefits in the form of higher interest rates.

  • Can I close my FD/MMDC/MID/QID before original term?

  • Yes. FD/MMDC/MID/QID can be closed before the original term. In the event of MMDC/MID/QID/FD being closed before completing the original term of the deposit, interest will be paid at rate applicable on date of deposit, for the period for which the deposit has remained with Bank.  Penal Interest at the rate of 1% will be applicable on premature withdrawal of time deposit above Rs.5 lakh.  In case of closure before maturity of QID/MID, excess interest paid for the period, in anticipation of deposit continuing till maturity, is subject to recovery by Bank.

  • Is there any auto renewal facility available on FD/MMDC/MID/QID?

  • Yes, you can opt for auto renewal at the time of opening the FD/MMDC/MID/QID or at anytime before maturity of the deposit.  Auto renewal allow your FD/MMDC/MID/QID to get renewed automatically for the same period as the original deposit.

  • How do I close my FDR/MMDC/MID/QID?

  • After maturity of your FD/MMDC/MID/QID, you can walk into Home branch and claim your deposit by surrendering your deposit receipt.

  • Can I avail a loan against FD/MMDC/MID/QID?

  • Yes, loan facility is available up to 90% of principal and accrued interest.  You can approach your Home Branch for availing loan facility.

  • Whether nomination facility is available?

  • Nomination Facility is available.

  • Whether all deposit holders need to sign while opening and closing deposits?

Fixed/Term deposits opened with either or survivor – unless otherwise specified in the Account Opening Form at the time of account opening –

  • The signatures of all depositors are required for opening of deposit account.
  • The signatures of all depositors are not required for repayment of the amount of the deposits on maturity.
  • The signatures of all depositors are required, in case the deposit is closed before maturity and for obtaining loan against deposit.
  • In case one of the depositors expires before maturity, no premature payment of term deposit may be allowed without the concurrence of the legal heirs of the deceased holder.  However, in case of death of one or more depositors, proceeds of FD may be paid to survivors on maturity.
  • Fixed/Term Deposits opened with Former or Survivor – unless otherwise specified in the Account Opening Form at the time of account opening,

  • The signatures of all depositors are required for opening of deposit account.
  • Former alone can operate/withdraw the matured amount of fixed/term deposit, when both the depositors are alive.
  • The signatures of all depositors are required, in case deposit is closed before maturity.
  • If the former expires before maturity of the term deposit, the Survivor can withdraw the deposit on maturity.
  • Premature withdrawal requires the mandate of all parties, when both of them are alive and that of the surviving depositors and the legal heirs of the deceased in case of death of one of the depositors.
  • Can I open online Fixed Deposit account?

    Yes, you can open a deposit account Online, including Cent Tax Saving Deposit.

  • Will I get Fixed Deposit Receipt/Certificate if I open online Fixed Deposit?

  • On opening Fixed Deposit Online, system generated receipt will be issued.  If you want the certificate, you are required to visit Home Branch for obtaining the same.  However, once you obtain the certificate of your Deposit Receipt, you cannot close the account online.

  • Whether TDS is applicable in all deposit schemes as referred above?

  • Yes, Tax is deductible on interest earned of Rs.10,000/- and above during the Financial Year as per IT rules.  If Form 15G/15H is submitted by a depositor, no TDS will be deducted by the Bank.

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