Central Bank of India offers special deposit scheme

MUMBAI: State-run lender Central Bank of India today launched a special scheme offering to double depositors' money in seven-and-a-half years.

The scheme, christened 'Cent Double', will give an annualised yield of 13.33 per cent and is valid between September 1 and December 31, a statement issued here by the bank said.

For senior citizens, the annualised yield stands at a higher 14.93 per cent and the money will double in seven years and three months, it added.

For the metros and urban centres, a minimum deposit to be made under the scheme is Rs 10,000, while for semi-urban and rural centres it is Rs 5,000, it said, adding that the maximum sum which can be invested is less than Rs 1 crore.

Source: Economic Times