Cent schemes for NRI and PIO

Cent Millionaire Recurring Deposit Scheme.

  • It is a Recurring Deposit Scheme.
  • Tenure is 10 years
  • Rate of Interest will be 6.45% 
  • Monthly Amount to be invested is Rs. 5935/-
  • Maturity Amount after 10 years Rs. 10 lakh plus
  • Unique long-term monthly recurring deposit scheme for NRIs to save for their future requirements like children’s education, marriage, their own old age, and so on.

Cent Lakhpati “Jab Chaho Lakhpati Bano”

  • Type of Deposit: It is a Recurring Deposit Scheme.
  • Period Of Deposit: The Deposit will be accepted for a minimum period of 1 year and for a maximum period of 10 years.
Period in Years Rate of interest Monthly Installment (Rs.) Maturity Value (Rs.)
1 6.65 8040 Rs. 1 Lakh Plus
2 6.45 3900
3 6.45 2512
4 6.45 1824
5 6.45 1411
6 6.45 1140
7 6.45 942
8 6.45 800
9 6.45 683
10 6.45 595

Cent Swa Shakti-Flexi Recurring Deposit Scheme:-

  • Flexi Recurring Deposit Scheme "CENT SWA -SHAKTI FLEXI RDS" under NRE term Deposits is available. The unique feature of the Scheme is that the monthly deposits can be varied, depending upon the surplus funds available at the disposal of the depositor in that month.
  • Interest rate will be as per prevailing term deposit card rate applicable to NRE Term Deposits. It will be calculated on daily basis and will be credited every half year in June and December.
  • Depositor has to choose monthly Core amount. It can be minimum Rs. 100  and in multiples of Rs. 100 up to maximum cap of Rs. 1,00,000.
  • Besides monthly core amount, one can also deposit additional amount. The aggregate monthly deposit should not exceed ten times of such CORE amount. The instalment can also be deposited one or more times during a month, subject to maximum ceiling of 10 times of Core Amount.

Cent 777 Term Deposit:-

  • The Deposit will be accepted for a fixed period of 777 days. No deposit will be accepted under the scheme for a longer or shorter period.
  • The deposit will be for Minimum Rs. 1,000 and for a Maximum of less than Rs. 1 crore.
  • The deposits under the Scheme will attract interest at the rate of 9.15% at present. In case of revision in domestic deposit rates for the same period this rate will be equivalent to the rate applicable to domestic deposit of 777 days maturity.
  • Interest will be Compounded Quarterly.

Cent 555 Term Deposit:-

  • Tenure of deposit : 555 days
  • Rate of interest : As applicable to domestic deposits for similar tenure
  • In case of revision in domestic deposit rates for the same period, this rate will be equivalent to the rate applicable to domestic deposit of 555 days maturity.
  • Interest is compounded quarterly.
  • Minimum deposit amount is Rs. 1,000 and maximum amount less than 1 crore.

MIDR / QIDR facility under Cent 555 & Cent 777:-

  • Type of Deposit : MIDR/QIDR under Cent 555 & Cent 777
  • Tenure of Deposit: 555 days / 777 days.
  • Rate of Interest: As applicable to domestic deposits for similar tenure at present 9.05% p.a. & 9.15% p.a. respectively.
  • In case of revision in domestic deposit rates for the same period, this rate will be equivalent to the rate applicable to domestic deposit of 555 days/ 777 days maturity.
  • Minimum deposit amount Rs. 5,000 & in multiples of Rs.1000 and Maximum amount less than Rs. 1 crore.

For all the above Term Deposit Schemes for NRIs following are the common features:-

  • Additional benefit of interest is not allowed to either Senior citizen or ex-staff/staff.
  • No TDS.
  • In case of premature withdrawal No interest payable if closed before completion of 1 year. 1% penal interest to be applied (as applicable) if closed before maturity after completion of 1 year.
  • Premature withdrawal is not allowed if a loan is availed against the deposit.