The team that will win the ICC tournament will be awarded the prize money of $ 2.2 million while the runners-up will bag $ 1.1 million.
The eighth edition of the tournament, starting on June 1, has seen an increase of $500,000 in prize money from the 2013 edition, held in England and Wales as well.
The previous edition too was played at the three venues being used this time - Cardiff Wales Stadium, Edgbaston and The Oval.
The runner-up of the tournament will get a cheque of $1.1 million, while the other two semifinalists will be rewarded $450,000 each.
Teams finishing third in each group will take home $90,000 each, while the teams finishing last in each group will get $60,000 each.
Team India had won the previous edition of the ICC event by defeating hosts England in the final encounter.
The MS Dhoni led side was awarded the cheque of $1.70 million after lifting the tournament in 2013. Dhoni thus became only Indian captain to lift all three ICC trophy.
Virat Kohli will be leading the senior Indian national cricket team for the first time in an ICC event as Men In Blue will be defending their title this time around.
Team India will play two warm-up games against New Zealand and Bangladesh on May 28 and 30, respectively.
Meanwhile, the first match of the Champions Trophy will be played between England and Bangladesh at the Oval on June 1, while defending champions India will start their campaign against arch-rival Pakistan on June 4 at Edgebaston.