Central Bank Of India is offering extra interests on FD for those who received COVID Vaccines
Under the "Immune India Deposit Scheme", Central Bank of India is offering 25 basis points extra interest rate on fixed deposit.
In order to encourage more people to get Covid-19 vaccines, the Central Bank of India has launched a special deposit scheme – Immune India Deposit Scheme – offering an additional interest rate of 25 basis points (bps) above the applicable card rate for those who get vaccinated.
Basis points are a common unit of measure for interest rates and other percentages in finance. One bps is equal to 1/100th of one per cent. It has a maturity period of 1,111 days, some 16 days more than three years.
The eligibility criteria for “Immune India Deposit Scheme” is that you need to be Covid-19 vaccinated.
The Central Bank of India has requested citizens to vaccinate against the virus and avail its attractive offer which is for a limited period. Senior citizens are eligible for extra interest as applicable, it added.
Central Bank of India FD Rates Calculator 2021
| Sr.No. | Maturity Period | Less than 2 Cr w.e.f 08.01.2021 | 2 Cr to 10 Cr (Single deposit) w.e.f 10.04.2021 (Linked with REPO Rate) |
|---|---|---|---|
| 1 | 7 -14 days | 2.75 | 2.90 |
| 2 | 15 – 30 days | 2.90 | 2.90 |
| 3 | 31 – 45 days | 2.90 | 2.90 |
| 4 | 46 – 59 days | 3.25 | 2.90 |
| 5 | 60 – 90 days | 3.25 | 2.90 |
| 6 | 91 – 179 days | 3.90 | 2.90 |
| 7 | 180 – 270 days | 4.25 | 3.00 |
| 8 | 271 – 364 days | 4.25 | 3.25 |
| 9 | 1 yr to less than 2 yrs | 4.90 | 3.50 |
| 10 | 2 yr to less than 3 years | 5.00 | 3.50 |
| 11 | 3 yr to less than 5 years | 5.10 | 3.50 |
| 12 | 5 years & above up to 10 years | 5.10 | 3.50 |
| 13 | 555 days | NA | NA |
| 14 | 777 days | NA | NA |
This incentive by banks is expected to combat cases of vaccine hesitancy which have cropped up among the Indian populace. Medical experts have time and again assuaged the fears of public by reiterating that it is safe to take Covid-19 vaccines. These vaccines are instrumental in preventing hospitalisation, and an infection if any after getting vaccinated is only expected to result in mild symptoms.
A total of 10.85 crore doses of vaccine have been given in India till 7 am yesterday (13 April).
