Central Bank Savings Account Interest Rate 2026
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Quick Answer
Central Bank of India currently offers a savings account interest rate of 2.75% p.a.. Interest is calculated on daily closing balance and credited quarterly.
Central Bank Savings Account Interest — Rates at a Glance
| All balances | 2.75% p.a. |
| Interest credit frequency | Quarterly |
| Calculation basis | Daily closing balance |
Rates are indicative as of 2026-04-07. Verify with Central Bank of India official website before investing.
Key Things to Know
- 1Central Bank of India savings rate: 2.75% p.a.
- 2Interest calculated on daily closing balance, credited quarterly
- 3Minimum balance requirement varies by account type (₹500–5,000 for regular branches)
- 4Interest income up to ₹10,000/year exempt from tax (Section 80TTA)
- 5Zero-balance accounts available (BSBD/Jan Dhan accounts)
- 6Free NEFT/RTGS/IMPS transfers via net banking
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Frequently Asked Questions
What is Central Bank savings account interest rate 2026?
Central Bank of India offers 2.75% p.a. on savings accounts. The rate is uniform across all balance amounts.
How is savings account interest calculated in Central Bank?
Interest is calculated on the daily closing balance and credited to your account quarterly. Formula: (Daily balance × Rate × Number of days) / 365.
What is the minimum balance for Central Bank savings account?
Public sector banks like Central Bank typically require ₹500–₹5,000 minimum balance in regular branches.
Is Central Bank savings account interest taxable?
Yes, savings account interest is taxable as per your income slab. However, interest up to ₹10,000 per year is exempt under Section 80TTA (₹50,000 for senior citizens under 80TTB).