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Central Bank Offers Special Deposit Scheme

Tuesday, August 30, 2011
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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 annualized yield of 13.33 percent and is valid between September 1 and December 31, a statement issued here by the bank said. For senior citizens, the annualised yield is slightly higher at 14.93 percent and the money will double in seven years and three months, it added. In metros and urban centres, the 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: PTI
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