Money Multiplier Deposit Certificate (MMDC) Simple interest will be paid at half-yearly intervals, i.e. The minimum tenure for the account is seven days, and the maximum tenure is 120 months. A minimum deposit of Rs.100 is to be made. The depositor gets the flexibility to choose the tenure. This is a short-term deposit account that offers a high interest rate on the deposit placed in the account. Different Types of Central Bank of India FD Schemes * Interest rates are subject to change with time. Interest Rate for Deposits of Rs.2 Crore < Rs.10 Crore (Single deposit) w.e.f 10 July 2021 (Linked with REPO Rate)* Interest Rate for Deposits < Rs.2 Crore w.e.f 10 Novermber 2021* Fixed Deposit Interest Rates 2021 of Central Bank of India Deposit Tenure That is the funds in an unclaimed, matured FD account will attract an interest rate as applicable to the savings account or the contracted rate of the matured FD, whichever is lower.
RBI has announced a new rule applicable to unclaimed, matured FD accounts.
