🏦 Central Bank of India – History, Services & Digital Banking in 2025

Published by: Vizzve Financial
Updated: May 13, 2025
Category: Indian Banking | Financial Services | Government Banks

🔍 Overview

The Central Bank of India (CBI), one of the oldest and most trusted public sector banks in India, continues to evolve in 2025 with new digital offerings, government-backed schemes, and retail banking services.

If you’re looking to open a savings account, apply for a loan, or explore government-linked schemes, Central Bank of India is still a key player—especially in semi-urban and rural markets.

🕰️ Brief History of Central Bank of India

Founded: 21 December 1911
Headquarters: Mumbai, Maharashtra
Founder: Sir Sorabji Pochkhanawala
Legacy: First Indian commercial bank fully owned and managed by Indians.

CBI played a vital role during India’s independence movement and later in implementing poverty alleviation programs and agricultural lending initiatives.

🏦 Key Banking Services in 2025

🔹 Personal Banking

Savings Accounts: Basic, premium, zero-balance
Fixed Deposits: Attractive interest rates for senior citizens
Home Loans: Competitive rates starting from 8.35% p.a.
Education Loans: Up to ₹20 lakhs with government subsidy (CSIS)

🔹 Business & SME Banking

MSME Loans: Credit Guarantee Fund Scheme (CGTMSE)
Mudra Loans: Up to ₹10 lakh under PMMY
Cash Credit & Overdraft Facilities
Digital Current Accounts

🔹 Digital Services in 2025

Cent Mobile App: Mobile banking with UPI, bill pay, FD booking
Internet Banking: 24/7 access for individuals and businesses
Cent UPI: Unified Payment Interface for QR and peer transfers
e-Tax & e-Pension Services

🔹 Government Schemes Offered

PM Jan Dhan Yojana
Atal Pension Yojana (APY)
Sukanya Samriddhi Yojana
Senior Citizen Savings Scheme
Kisan Credit Card (KCC)

📈 Performance & Market Presence

Branches: Over 4,500 across India
ATMs: 3,600+
Net NPA (2024-25): Reduced to below 3.5%
Recent Focus: Digital transformation, MSME support, and financial literacy

🆚 How Central Bank of India Compares in 2025

Feature	Central Bank of India	SBI	Vizzve (Aggregator)
Digital Loan Disbursal	Moderate	Advanced	Instant (Multiple Banks)
Customer Service Ratings (2025)	3.8/5	4.1/5	4.6/5
Branch Access	Strong in rural areas	Very strong	NA
Loan Approval Speed	3–5 days	2–4 days	10 minutes

👉 Want faster loan approval than PSU banks? Try Vizzve.com – Instant personal loan comparisons from top NBFCs and banks.

❓ Frequently Asked Questions (FAQs)

🔹 Is Central Bank of India safe?

Yes, CBI is a government-owned public sector bank regulated by RBI and insured by DICGC.

🔹 How can I open a savings account in Central Bank of India?

You can apply online via the Cent Mobile App or visit the nearest branch with KYC documents.

🔹 What is the interest rate on personal loans in 2025?

CBI offers personal loans starting at 10.50% p.a., depending on your credit score and income.

🔹 Can I apply for a Central Bank loan online?

Yes, personal and MSME loans can be applied online, but approval and disbursal may take 2–5 days.

🔹 Is there a faster alternative to get loans?

Yes! Use Vizzve Financial to compare and apply with instant approval and same-day disbursal.

🎯 Final Thoughts

The Central Bank of India continues to hold a strong presence in India’s financial ecosystem, especially for those who prefer traditional banking. However, if you're seeking faster loan processing, digital-first features, and broader comparisons — Vizzve Financial is a smart alternative.