Central Bank launches new RD scheme

Central Bank of India has launched a recurring deposit scheme ‘Centswashakti’ for retail depositors. This scheme allows depositors the flexibility to deposit up to 10 times the originally decided minimum amount every month. 

The instalments can be deposited in the scheme, with tenures ranging from 6 months to 120 months, one or more times during a month. Interest rate on the RD will be as per prevailing term deposit card rate. It will be calculated on a daily basis and will be credited half-yearly.