Central Bank of India is a major public sector bank in India and has a large customer base to cater to. For this, they have a plethora of options when it comes to savings accounts types.
Let’s know about the types of Central Bank of India savings accounts, interest rates, account opening process, and more below.
Types of Central Bank of India Saving Accounts
The following-mentioned are the different types of savings accounts offered by the Central Bank of India:
Central Bank of India Cent Premium
This account is for the high net worth individuals and offers various features such as a higher interest rate of 3% p.a., free demand draft, and free personalized cheque book. The account requires a minimum balance of Rs. 1 lakh.
Central Bank of India Cent Param
Cent Param or Central Bank of India salary account is idea for salaried individuals and offers various features such as zero balance facility, free ATM withdrawals, and free internet banking. The interest rate offered is 2.75% p.a.
Central Bank of India Cent Balbhavishya
As the name suggests, this account is designed for children and offers various features such as 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 is a Hindi word for ‘Savings’. Thus, this account is suited for the low-income individuals and requires a minimum balance of Rs. 50. The account holder can withdraw money from any Central Bank of India ATM without any charges. The interest rate offered is 2.75% p.a.
Central Bank Cent Samarth Savings Account
Cent Samarth savings account is a savings account designed especially for the salaried employees in the country. It requires zero balance and zero maintenance charges. Along with it, you also get pre-approved overdraft facility with Cent Samarth. It comes with a RuPay Platinum debit card with no issuance or renewal charges.
Important: It has an auto sweep facility enabled under which Fixed Deposits will be automatically created after a threshold amount of Rs 25,000 in multiples of Rs 5,000.
Institutions that can open Cent Samarth Savings Account for their salaried employees:
- Central and State Government entities, Educational Institutes & PSUs (minimum group of 10 employees)
- Private corporates and SMEs (minimum group of 10 employees)
Central Bank Cent Samvridhi Savings Account
Cent Samvridhi can be opened by any one residing in India of 18 years or more of age. This is unlike your regular savings account because it comes with a built-in auto sweep facility under which any amount that crosses the limit of Rs 25,000 will be converted into an FD with a minimum balance of Rs 5,000. Minimum deposit period is 46 days while the max. time to hold this FD is 179 days.
You’ll be offered with a free ATM cum debit card, 50% waiver in credit card fees and netbanking etc. You will not get any loan facility with Cent Samvridhi account.
Overall, Central Bank of India savings accounts provide a convenient and reliable way to save money and earn interest, while also offering a host of features to make banking more accessible and convenient.
Central Bank of India Saving Account Interest Rate
Check the table below to know about the current interest rates on Central Bank of India savings accounts:
Balance (at the end of the day) | Rate of Interest (w.e.f. 15th Nov. 2022) |
Up to Rs 10 Crores | 2.90% |
Above Rs 10 Crores | 3.00% |
Note: Central Bank of India savings account interest rate can change anytime. Source: Central Bank of India official website.
Central Bank of India Saving Account Opening Offline
Step 1: Visit the nearest Central Bank of India branch.
Step 2: Collect the account opening form.
Step 3: Fill this form properly and preferably in block letters.
Step 4: Submit this form.
Step 5: Once the documents are verified, the bank will provide you with a welcome kit containing the account details, Debit card, and other information.
Step 6: The bank will also provide you with the necessary instructions to activate your account, set up internet banking, and other services.
It is advisable to carry original documents for verification purposes.
Central Bank of India Saving Account Opening Online
Step 1: Visit the official website of Central Bank of India (https://www.centralbankofindia.co.in/).

Step 2: Hover over ‘Digital Banking’ and click on ‘Online Saving Account Through Video KYC’ under the ‘Apply Online’ section. (check the above image)
Step 3: Fill in the required details such as name, date of birth, contact details, and other information as required in the online application form.
Step 4: Select the “Video KYC” option for document verification and complete the Video KYC process by following the instructions provided on the screen.
Step 5: Once the Video KYC is completed successfully, submit the application form.
Step 6: Once the application is processed and approved, the bank will send a welcome kit containing the account details, ATM card, and other information to the registered address.
Please note that before applying for a savings account through Video KYC, you need to ensure that you have a valid Aadhaar card and PAN card, and a smartphone with a good internet connection.
Documents Required for Central Bank of India Savings Account Opening
The following is the list of documents required when you want to open a savings account with the Central Bank of India:
- PAN Card
- ID Proof and Residence Proof (Examples: Passport, Driving License)
- Job card issued by NREGA duly signed by an officer of the State Government.
- The letter issued by the National Population Register containing details of name and address
- Passport-sized photographs
Note: This list is not exclusive.
It is recommended to check with the bank’s website or customer care for the complete list of required documents before applying for a savings account through Video KYC.
Central Bank of India Saving Account Minimum Balance
Minimum balance in every Central Bank of India savings account is given in the table below:
Type of Central Bank of India Saving Account | Minimum Balance Required |
Cent Premium Account | Rural & Semi Urban Branches: Rs 50,000 Urban & Metro Branches: Rs 1 lakh |
Cent Param Account | Rural & Semi Urban Branches: Nil Urban & Metro Branches: Nil |
Cent Balbhavishya Account | Rural & Semi Urban Branches: Rs 500 Urban & Metro Branches: Rs 1,000 |
Cent Bachat Khata | Rural & Semi Urban Branches: Nil Urban & Metro Branches: Nil |
Cent Samarth | Rural & Semi Urban Branches: Nil Urban & Metro Branches: Nil |
Cent Samridhi | Core Deposit: Rs 50,000 Quarterly Average Balance: Rs 25,000 |
Central Bank of India Savings Account: FAQs
The minimum balance requirement for Central Bank savings account may range from Rs500 to Rs 1 lakh, depending on the type of savings account.
The interest rate offered on Central Bank of India Savings Account currently range from 2.90% to 3.00% per annum.
The documents required to open a Central Bank of India Savings Account include ID proof, address proof, passport-sized photograph, and PAN card. This list may vary as per the type of savings account you choose.
Yes. You can visit the official website of Central Bank of India and navigate to digital banking menu to proceed further.