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  2. CMPGB Oct 2017 Loans, FD, RD and Saving Interest Rates
  3. Central Madhya Pradesh Gramin Bank Latest Oct 2017 Fixed Deposit @ 6.75%, Home Loan @ 9.90%, Car Loan @11% Two Wheeler Loan @11%, Education Loan @11% to 11.50%

Central Madhya Pradesh Gramin Bank Latest Oct 2017 Fixed Deposit @ 6.75%, Home Loan @ 9.90%, Car Loan @11% Two Wheeler Loan @11%, Education Loan @11% to 11.50%
By Ajay Saptaputre | October 17, 2017

There are all types of banks operating all across India such as Public Banks, Private Banks, Foreign Banks, Co-operative Banks, Small Finance Banks, Payments Banks, etc. One of such banks is Gramin Bank, also known as Regional Rural Bank (RRB). The unique features which are found in a gramin banks is that they are operating on state level and they are found even in most rural areas where other banks don't have their branches/ operations.


There are 3 Gramin Banks in the state of Madhya Pradesh. These banks are:

  1. Central Madhya Pradesh Gramin Bank
  2. Madhyanchal Gramin Bank
  3. Narmada Jhabua Gramin Bank

Here, I am covering Central Madhya Pradesh Gramin Bank which offers all the banking products and services to its customers such as Deposits, Loans, NRI Services, Kisan Credit Cards, Debit Cards, Lockers, ATM facility, Online Banking, and many more. You will find below segment-wise details of Central Madhya Pradesh Gramin Bank.

Central Madhya Pradesh Gramin Bank Savings Bank Account Interest Rate

The rate of interest of Central Madhya Pradesh Gramin Bank Savings Bank Account is 4% p.a. calculated on daily basis. Some additional benefits will be given to savings account holders like Debit Card facility, bank account statement, passbook, cheque book, facility of standing instructions, online banking, RTGS/ NEFT, etc.

Central Madhya Pradesh Gramin Bank Term Deposit/ Fixed Deposit (FD) Interest Rate

Tenure: from 7 days to 10 years

Given below is the table for Term Deposit/ Fixed Deposit (FD) interest rate by the Central Madhya Pradesh Gramin Bank:


TenureInterest Rate p.a. (%)
7 days to 14 days4
15 days to 30 days4.25
31 days to 45 days4.25
46 days to 60 days5
61 days to 90 days5
91 days to 179 days6
180 days to 269 days6.5
270 days to 364 days6.75
1 year to less than 2 years6.75
2 years to less than 3 years6.5
3 years to less than 5 years6.5
5 years and upto 10 years6.25

Central Madhya Pradesh Gramin Bank Term Deposit/ Fixed Deposit (FD) Interest Rate for Senior Citizen

Tenure: from 7 days to 10 years

Given below is the table for Term Deposit/ Fixed Deposit (FD) interest rate by the Central Madhya Pradesh Gramin Bank for Senior Citizen


TenureInterest Rate p.a. (%)
7 days to 14 days4.5
15 days to 30 days4.75
31 days to 45 days4.75
46 days to 60 days5.5
61 days to 90 days5.5
91 days to 179 days6.5
180 days to 269 days7
270 days to 364 days7.25
1 year to less than 2 years7.25
2 years to less than 3 years7
3 years to less than 5 years7
5 years and upto 10 years6.75

Central Madhya Pradesh Gramin Bank Recurring Deposit (RD) Interest Rate

Recurring deposit is a product which is best suited for salaried and regular income groups with monthly saving of specified amount for a fixed period. Recurring deposits accounts with Central Madhya Pradesh Gramin Bank are available for the period from 1 Year to 10 years with attractive interest rates.

Given below is the table for Recurring Deposit (RD) interest rate by the Central Madhya Pradesh Gramin Bank


Recurring Deposit (RD)1 Year2 Years3 Years4 Years5 Years10 Years
Interest6.756.56.56.56.256.25

Central Madhya Pradesh Gramin Bank Recurring Deposit (RD) Interest Rate for Senior Citizen

Senior Citizens are offered more interest rate on RDs.

Given below is the table for Recurring Deposit (RD) interest rate by the Central Madhya Pradesh Gramin Bank for Senior Citizen


Recurring Deposit (RD)1 Year2 Years3 Years4 Years5 Years10 Years
Interest7.257776.756.75

Other Deposit Schemes offered by Central Madhya Pradesh Gramin Bank

Central Madhya Pradesh Gramin Bank CentMP Super Deposit Scheme

The account may be opened for a period of 555 days with Min Amount:Rs.1000 Max Amount:Rs.1 crore. On maturity of the period payment is made with compounding of interest. Nomination facility is also available in this account.

Central Madhya Pradesh Gramin Bank CentMP Double Deposit Scheme

Your amount will be doubled in 93 months for general and in 90 months for senior citizens. Limit of Min Amount:Rs.5000 Max Amount:Rs.1 crore. On maturity of the period payment is made with compounding of interest. Nomination facility is also available in this account.

Central Madhya Pradesh Gramin Bank CentMP Special Deposit Scheme:

The account may be opened for a period of 300 days with Min Amount:Rs.1000 Max Amount:Rs.1 crore. Payment before maturity of the deposit is available subject to Bank's rules in this regard

Central Madhya Pradesh Gramin Bank CentMP Lakhpathi Recurring Deposit Scheme:

It is a kind of recurring account for common public account may be opened with an amount Rs.1350/- which is to be deposited every Month. Maturuty is after 60 months. On maturity of the period payment is made with compounding of interest.

Central Madhya Pradesh Gramin Bank CentMP Tax Savings Scheme:

It is designed for claiming Tax benefits under Sec 80 C of IT Act,1961 for common public account may be opened with Min Amount:Rs.1,000 Max Amount:Rs.1.5 Lakhs. Maturuty is after 5 years. On maturity of the period payment is made with compounding of interest.

Central Madhya Pradesh Gramin Bank Loan Schemes for Agriculture Sector

The bank offers following deposit products to suit different classes of customers:

Central Madhya Pradesh Gramin Bank CentMP Kisan Credit Card: This scheme provides hassle free loan to the Farmers on the cheapest rates of interest for their main activity i.e. Crop Production & also to meet out their personal & consumption needs to some extent.

Central Madhya Pradesh Gramin Bank CentMP Warehouse Finance: This scheme is for Warehouse Finance to the Farmers & provides hassle free loan to the Farmers on the cheapest rates of interest.

Central Madhya Pradesh Gramin Bank CentMP Dairy Loan: This loan is provided for purchase of Buffaloes, Cows and cross breed Cows. Finance as per Unit cost. Repayment is due after 5 years.

Central Madhya Pradesh Gramin Bank CentMP General Credit Card: In order to provide loans for general credit needs to our individual customers in the rural & Semi urban areas in a hassle free manner based on the assessment of cash flow of the entire household without insistence on security.

Central Madhya Pradesh Gramin Bank CentMP Kisan Vehicle Loan: The bank is providing financial assistance to the farmers for purchase of motor-cycle.

Central Madhya Pradesh Gramin Bank CentMP Swarojgar Credit Card: The purpose of this scheme is to provide timely & adequate capital or working capital or both to small artisans, Handloom weavers, Service sector, fisherman, Self employed person , Rickshaw pullers and small entrepreneurs, SHG etc.

Central Madhya Pradesh Gramin Bank Home Loan Scheme

To provide financial support for Construction of new dwelling unit, purchasing of new/old dwelling units which are not older than 30 years. Extension of existing house. Purchase of plot of land subject to the condition that a house will be constructed thereon within -2- years from the date of purchase of plot.

LOAN TENUREFLOATING INTEREST RATELOAN AMOUNT
Maximum 25 years
  1. BPLR -2.60% i.e. 9.90%-Upto Rs.50.00 Lakh
  2. BPLR -2.50% i.e. 10%- Above Rs.50.00 Lakh
Max. Rs. 100 lakhs

Here full details of Home Loan are not mentioned. Please click here to see complete details of home loan by by Central Madhya Pradesh Gramin Bank.

Please click here to get the details of 10 Best Gramin Banks for providing lowest interest rates.

Central Madhya Pradesh Gramin Bank Education Loan

The main objective of providing education loan is to give financial assistance to deserving| meritorious students pursuing higher education in India and abroad.

INTEREST RATELOAN TENURELOAN AMOUNT
BPLR-1 i.e. 11.50%-for boys & BPLR-1.5 i.e. 11%-for girlsIn 5 to 7 years after the Holiday or Moratorium Period (Course Period + One year or 6 months after getting the job)Need based finance to meet expenses as worked out under "Expenses considered for Loan"

Here full details of Education Loan are not mentioned. Please click here to see complete details of home loan by by Central Madhya Pradesh Gramin Bank.

Please click here to get the details of 10 Best Gramin Banks for providing lowest interest rates for education loan.

Central Madhya Pradesh Gramin Bank Car Loan

To purchase a car for personal use. Used car should not be older more than 3 years. The details are as follows:

INTEREST RATELOAN TENURELOAN AMOUNT
BPLR-1.5 i.e. 11%
  • 84 Equated Monthly Installments for new vehicle
  • 36 Equated Monthly installments for more than 3 years old vehicle
  • Salaried : 24 times of gross monthly income or Rs 10 lakh, whichever is less
  • Others : 2 times of gross annual income or Rs 10 lakh, whichever is less

You may be interest in calculating EMI on the loan amount. For it, just CLICK HERE

Central Madhya Pradesh Gramin Bank Two Wheeler Loan

To provide term loan for purchasing two wheeler. All creditworthy customers having sufficient income to repay the loan instalments. The details are as follows:

INTEREST RATELOAN TENURELOAN AMOUNT
BPLR-1.5 i.e. 11%Maximum 5 yearsUp to 75 % of the invoice value

Other banking services offered by Central Madhya Pradesh Gramin Bank

  1. All branches provide Core Banking facility (CBS)
  2. Lockers facility available.
  3. Demand Drafts and Cheques Purchase facility
  4. Collection of Outstation Cheques
  5. Collection of Outstation Bills
  6. Standing Instruction
  7. Issue of Bank Guarantees
  8. Issue of Solvency Certificate
  9. SMS Alert, TDS Certificate, Interest Certificate and Balance Certificate
  10. NEFT & RTGS facility

Central Madhya Pradesh Gramin Bank Contact Details

Website: https://www.centralmpgraminbank.com


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About Ajay Saptaputre
Ajay Saptaputre is a Founder of CodeForBanks.com, Techstikers.com and Distancelatlong.com. Ajay Saptaputre is the founder of three web portals - CodeForBanks, best marketplace for banking solutions; Techstikers, one of the largest technology web developer sites and Distancelatlong, the largest tool for calculating latlong, distance between countries & cities on map.
Ajay is a serial entrepreneur, Internet visionary and has very successfully managed to build CodeForBanks one of the largest marketplaces for banking solutions in India. Having worked in the Software Industry for over 12 years, Ajay has rich experience in the search engine optimization, digital marketing, global Internet and E-commerce industry.
In January 2017, Ajay started CodeForBanks, best marketplace for banking solutions for comparing and selecting the best banking product and Distancelatlong, the largest tool for calculating latlong, distance between countries & cities on map. Prior to CodeForBanks & Distancelatlong in March 2015, Ajay founded Techstikers which is one of the largest technology web developer sites. Ajay is Masters in Computer Management.

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