444-Day Special FDs: SBI, BoB, IOB & Indian Bank—Which fixed deposit scheme offers highest return on Rs 6,25,000 or Rs 7,25,000 investment
444-Day Special FDs: Planning to invest Rs 6.25 lakh or Rs 7.25 lakh in a 444-day special FD? Here's a quick look at which bank—SBI, BoB, IOB, or Indian Bank—offers the best returns.
444-Day Special FDs: Fixed Deposits (FDs) have long been a preferred investment option for individuals looking for stable and assured returns. But with the rising popularity of mutual funds and equities, traditional FDs have witnessed a dip in investor interest. To counter this trend, several banks have rolled out special limited-period FD schemes offering slightly higher interest rates.
Among these is the 444-day special FD, currently available with major banks like State Bank of India (SBI), Bank of Baroda (BoB), Indian Overseas Bank (IOB), and Indian Bank. In this article, we break down the potential maturity values for investments of Rs 6.25 lakh and Rs 7.25 lakh under these 444-day FDs, comparing the returns across these leading banks.
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(Disclaimer: The returns mentioned below are indicative and for illustrative purposes only. Investors are advised to verify rates and consult a certified financial advisor before making any investment decisions.)
What are special fixed deposits (FDs)?
Special FDs are limited-period deposit schemes offered by banks at higher interest rates than standard FDs. These are targeted at investors looking for better returns within a defined time frame.
Special FD vs Standard FD
While standard FDs are available throughout the year with flexible tenures, special FDs are launched as part of promotional campaigns and offer better interest rates for fixed tenures—typically for a limited duration.
SBI 'Amrit Vrishti' scheme interest rate
As the State Bank of India revised its interest rate effective June 15, an interest rate of 6.6 per cent is offered to general citizens under its 444-day Amrit Vrishti scheme.
BoB 'Square Drive Deposit' scheme interest rate
Bank of Baroda offers a 7.00 per cent interest rate to general citizens under its 444-day Square Drive Deposit scheme.
Indian Overseas Bank 444-Day FD interest rate
Indian Overseas Bank offers a 7.10 per cent interest rate on its 444-day special fixed deposit.
Indian Bank 444-Day FD interest rate
Indian Bank leads with the highest rate, offering 7.15 per cent interest on its 444-day special FD scheme.
SBI 444-Day Special FD: Maturity on Rs 6,25,000 investment
For a general citizen, an investment of Rs 6,25,000 will grow to an estimated maturity value of Rs 6,78,831.03, earning approximately Rs 53,831.03 in interest.
BOB 444-Day Special FD: Maturity on Rs 6,25,000 investment
On a deposit of Rs 6,25,000, the estimated maturity amount is Rs 6,80,049.67, with total interest earned of around Rs 55,049.67.
IOB 444-Day Special FD: Maturity on Rs 6,25,000 investment
An investment of Rs 6,25,000 will mature to Rs 6,80,863.07, yielding an estimated interest of Rs 55,863.07.
Indian Bank 444-Day Special FD: Maturity on Rs 6,25,000 investment
With a deposit of Rs 6,25,000, the estimated maturity value stands at Rs 6,81,270.06, giving an interest return of approximately Rs 56,270.06.
SBI 444-Day Special FD: Maturity on Rs 7,25,000 investment
For a general citizen, an investment of Rs 7,25,000 will grow to an estimated maturity value of Rs 785092.41 earning approximately Rs 60092.41 in interest.
BOB 444-Day Special FD: Maturity on Rs 7,25,000 investment
On a deposit of Rs 6,25,000, the estimated maturity amount is Rs 788857.62, with total interest earned of around Rs 63857.62.
IOB 444-Day Special FD: Maturity on Rs 7,25,000
An investment of Rs 7,25,000 will mature to Rs 789801.16, yielding an estimated interest of Rs 64801.16.
Indian Bank 444-Day Special FD: Maturity on Rs 7,25,000
With a deposit of Rs 7,25,000, the estimated maturity value stands at Rs 790273.27, giving an interest return of approximately Rs 65273.27