400-Day Special FDs: Know returns on Rs 5 lakh, Rs 7 lakh, and Rs 9 lakh investments in SBI, PNB, and BoB fixed deposit schemes
400-Day Special FDs: Special fixed deposits (FDs) are schemes that come with a limited time period offered by banks, usually with higher interest rates than regular FDs.
400-day Special FD Rates: In a time when everyone is moving towards mutual funds and stock markets, seeking higher returns in the short term, fixed deposits (FDs) continue to be a preferred investment option for those who prefer stable returns with no market risk involved. Several leading banks routinely launch special FDs with higher interest rates and fixed terms for limited periods of time to attract depositors. These special FDs work like any other term deposits but with better rates. State Bank of India (SBI), Punjab National Bank (PNB), and Bank of Baroda (BoB) are among the leading banks providing 400-day FD schemes.
Here's a look at the potential maturity you can earn on Rs 5 lakh, Rs 7 lakh, and Rs 9 lakh investments in these PSU banks' FD schemes.
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(Disclaimer: Our calculations are projections and not investment advice. Do your due diligence or consult an expert for financial planning)
What are special FDs?
Special fixed deposits (FDs) are schemes that come with a limited time period offered by banks, usually with higher interest rates than regular FDs. These deposits can be either callable, allowing early withdrawal under certain conditions, or non-callable, where premature withdrawal is not permitted.
How do special FDs differ from regular FDs?
Regular FDs have fixed interest rates and tenures, with an option for early withdrawal (usually with a penalty). In contrast, special FDs offer higher interest rates for a specific period but may come with restrictions, particularly for non-callable variants that do not allow premature withdrawal.
Why should you consider special FDs?
- Higher interest rates than regular FDs
- Fixed tenures available for a limited time
- Choice between callable and non-callable options
- Low-risk investment with guaranteed returns
SBI 400-day Amrit Kalash FD
Launched in 2023 by India's largest lender, the State Bank of India (SBI), the 444-day fixed deposit scheme offers an interest rate of 7.10 per cent for general citizens and 7.60 per cent for senior citizens.
Initially introduced in February 2023 for a limited period, the scheme has been extended multiple times, with the latest deadline set for March 31, 2025.
BoB 400-day FD
The Bank of Baroda 400-day Utsav Scheme offers an interest rate of 7.30 per cent for general citizens and 7.80 per cent for senior citizens.
PNB 400-day FD
Punjab National Bank provides an interest rate of 7.25 per cent for general citizens and 8.05 per cent for senior citizens.
SBI vs PNB vs BoB: Interest rate compared
Among the three banks offering 400-day special fixed deposits, Bank of Baroda (BoB) provides the highest interest rate for general citizens at 7.30 per cent, followed by Punjab National Bank (PNB) at 7.25 per cent and State Bank of India (SBI) at 7.10 per cent.
SBI 400-day FD: Maturity on Rs 5 lakh, Rs 7 lakh and Rs 9 lakh investments
- Rs 5 lakh investment: Estimated maturity value – Rs 5,40,088.94 | Interest earned: Rs 40,088.94
- Rs 7 lakh investment: Estimated maturity value – Rs 7,56,124.52 | Interest earned: Rs 56,124.52
- Rs 9 lakh investment: Estimated maturity value – Rs 9,72,160.10 | Interest earned: Rs 72,160.10
BOB 400-day FD: Maturity on Rs 5 lakh, Rs 7 lakh and Rs 9 lakh investments
- Rs 5 lakh investment: Estimated maturity value – Rs 5,41,253.02 | Interest earned – Rs 41,253.02
- Rs 7 lakh investment: Estimated maturity value – Rs 7,57,754.23 | Interest earned – Rs 57,754.23
- Rs 9 lakh investment: Estimated maturity value – Rs 9,74,255.44 | Interest earned – Rs 74,255.44
PNB 400-day FD: Maturity on Rs 5 lakh, Rs 7 lakh and Rs 9 lakh investments
- Rs 5 lakh investment: Estimated maturity value – Rs 5,40,961.82 | Interest earned: Rs 40,961.82
- Rs 7 lakh investment: Estimated maturity value – Rs 7,57,346.55 | Interest earned: Rs 57,346.55
- Rs 9 lakh investment: Estimated maturity value – Rs 9,73,731.28 | Interest earned: Rs 73,731.28