Covid Vaccination: This Bank is Offering High Interest on Fixed Deposits for Getting Vaccinated; Details Inside

As the number of Covid-19 cases in rising in the country, Government is urging people to get vaccinated to protect themselves from the virus.  To encourage people to get Covid-19 vaccination, Central Bank of India has introduced a special deposit scheme known as ‘Immune India Deposit Scheme’ that offers an additional interest rate of 25 basis points above the applicable card rate for people who get vaccinated.

Fixed deposit schemes are beneficial for all including the farming community. High-interest FDs are a safe investment instrument that also generate good returns.

What is Immune India Deposit Scheme?

This special scheme is for a limited period and has a maturity of 1,111 days. In addition, senior citizens are eligible for more interest as applicable.

The bank in a tweet said, "To encourage Vaccination under COVID 19, Central Bank of India launches Special Deposit Product “Immune India Deposit Scheme" for 1111 days at an attractive extra Interest rate of 25 basis points above the applicable card rate for Citizens who got Vaccinated".

Eligibility of Immune India Deposit Scheme

• Only for Covid-19 vaccinated people

• Period - 1111 days

• 25bps extra on FDs or fixed deposit

• 50 bps extra for those above 60 years

Central Bank of India new FD interest rates effective January 2021

Central Bank of India offers interest rtae ranging from 2.75% to 5.1% on fixed deposits maturing in 7 days to 10 years. These rates are effective from January 8, 2021.

• 7 to 14 days - 2.75%

• 15 to 30 days - 2.90%

• 31 to 45 days - 2.90%

• 46 to 59 days - 3.25%

• 60 to 90 days - 3.25%

• 91 to 179 days - 3.90%

• 180 to 270 days - 4.25%

• 271 to 364 days - 4.25%

• 1 year to less than 2 yrs 4.90%

• 2 year to less than 3 years 5.00%

• 3 year to less than 5 years 5.10%

• 5 years to up to 10 years 5.10%

Covid-19 cases in India

According to Union Health Ministry, India hits a new Covid 19 infection record with 1,68,912 fresh cases, which is the highest single-day hike so far, taking the total tally of cases to 1,35,27,717.