Central Bank of India Zero Balance Savings Account

Last Updated : March 22, 2025, 5:57 p.m.

Opening a zero-balance savings account in the Central Bank of India is as easy as it can get. You can apply for the account online and also open a digital account from the comfort of your home. With a Central Bank of India zero balance savings account, you can start saving and earning immediately. It is just a click away!

In this article, we will take a look at the zero balance accounts provided by the Central Bank of India. Also a deeper insight into what the zero balance savings account offers.

Types of Central Bank Zero Balance Savings Account

The three zero-balance savings accounts provided by the Central Bank of India are -

• Cent Param
• Cent Yuva
• Cent Samarth
• Cent Bachat Khata

Features & Benefits of Central Bank Zero Balance Savings Account

Cent Yuva:

• Can be opened with zero balance.
• Account opening is through digital mode only.
• M-Passbook facility, and free mobile banking/SMS/internet banking.
• 0.25% concession on the rate of interest for education loans
• 50% concession on processing fees for loans

Cent Samarth:

• Convenient and seamless banking with zero balance
• Includes a savings account that can be operated with the same ATM/Debit card.
• Convertible to a pension account on retirement.
• 50% concession on processing charges for retail loans.
• Includes accident insurance

Cent Param:

• Salary or pension account for the tri-services defence personnel
• Unique account number
• Internet/ SMS/ mobile banking
• Free ATM and debit card
• Unlimited free chequebooks
• Concession on educational loans
• It is one of the best zero-balance savings accounts for salary products available

Cent Bhachat Khata

This account requires a minimum balance of INR 50 to be maintained but does not have any penalties or charges if the balance is not maintained. This is an initiative by the bank for better financial inclusion in the society.

Eligibility For Central Bank of India Zero Balance Savings Account

The eligibility criteria for the Central Bank of India savings account are -

• Must be an adult Indian citizen above 18 years of age.
• Submit valid address and identity proof documents.
• Students need a bona fide certificate and ID proof.
• Senior citizens to furnish proof of age
• For Cent Yuva - the account to be opened digitally.

Documents Required for Central Bank of India Zero Balance Savings Account

Proof of residence and proof of identity are mandatory documents required to open a zero-balance savings account. For a Cent Yuva account, video KYC can be done by the bank.

For others, KYC documents include

• Aadhar Card
• PAN card
• Driving Licence
• Passport size photograph
• Passport
• Ration Card
• Utility bills

How to open a Central Bank of India Zero Balance Savings Account?

You can open a zero-balance account at the Central Bank of India online and offline.

For the online option,

• Visit the official website of the bank.
• You can select an online account.
• Fill in the required details and application form
• Complete the video KYC for the bank
• You will receive an email for account creation.

For opening offline,

• Visit the nearest branch.
• Fill in the application form and carry all the required documents
• After verification of the documents, the bank will intimate necessary details.

Maximum Limit for Central Bank of India Zero Balance Savings Account

• For a zero balance account other than the Cent Bhachat Khata, there is no maximum limit for balance.
• For Cent Bhachat Khata, the maximum credit balance is INR 50,000 and maximum credits should not exceed INR 1,00,000.

UPI Transaction Limit of Central Bank of India Zero Balance Savings Account

Daily UPI Transaction Limit:

• The maximum amount you can transfer via UPI from a Central Bank of India zero-balance savings account is ₹1 lakh per day.

Number of Transactions:

• You can make a maximum of 20 UPI transactions per day.

What is the Withdrawal Limit Per Day for the Central Bank of India Zero Balance Savings Account?

• ATM Withdrawal Limit: You can withdraw up to Rs. 40,000 per day from Central Bank of India ATMs.
• Branch Withdrawal Limit: The daily cash withdrawal limit at Central Bank of India branches is Rs. 50,000.