Central Bank of India Salary Account

Central Bank of India

Central Bank of India is the oldest public-sector commercial bank in India, founded on 21 December 1911 by Sir Sorabji Pochkhanawala and nationalised in 1969. Headquartered in Mumbai, the bank has served Indian salaried customers for over a century and operates one of the largest PSU branch networks in the country, with 4,600+ branches and 5,000+ ATMs spanning metro, tier-2 and tier-3 cities. The Central Bank of India Salary Account is a zero-balance, MAB-waived savings account designed for salaried employees of central government departments, public-sector undertakings, and select corporates that have a salary tie-up with the bank. The account pays an interest rate of 2.75% p.a. on the daily closing balance, the standard rate applicable to Central Bank of India savings accounts. Account holders receive a complimentary Central Bank Salary Debit Card (RuPay) with daily ATM withdrawal limits, POS and e-commerce enablement, and complimentary personal accident insurance cover. Digital banking is delivered through the CentMobile mobile app and CentNet internet banking, both supporting NEFT/RTGS, IMPS, UPI, and bill payments 24×7. All salary accounts enjoy free unlimited NEFT and RTGS transactions — charges waived in line with the RBI mandate on free digital payments for all bank customers. On leaving service, the salary account auto-converts to a Central Bank of India Savings Account without documentation, preserving the account number, nominee, and standing instructions. Eligibility is open to any salaried employee whose employer has a Central Bank corporate tie-up, including central and state government departments, defence and railway establishments, PSUs, and listed corporates. Required documents typically include Aadhaar, PAN, employer ID, and the latest salary slip. Source: Central Bank of India official website, updated May 2026.