SBI 444-Day Vs BoB 444-Day Special FDs: Which can give higher maturity on Rs 3 lakh, 5 lakh, and Rs 7 lakh investments?
Special FD schemes, like the ones introduced by banks for specific time periods, work similarly to regular FDs but come with competitive features tailored to the special tenure.
SBI vs BoB 444-Day FDs: Fixed deposits (FDs) are a safe investment option that offer stable returns with a fixed interest rate. Investors can choose to deposit a lump sum for periods ranging from 7 days to 10 years. Special FD schemes, like the ones introduced by banks for specific time periods, work similarly to regular FDs but come with competitive features tailored to the special tenure.
Banks often adjust the term of these exclusive FDs, either shortening or extending the investment period. These special FDs typically offer better returns compared to regular deposits. Two such schemes are offered by India's largest bank, the State Bank of India (SBI), through its Amrit Vrishti scheme, and the Bank of Baroda (BoB) with its Square Drive Deposit scheme. Both of these offer attractive interest rates for a 444-day investment tenure.
In this article, we’ll compare these two schemes to determine which one offers a higher maturity on Rs 3 lakh, Rs 5 lakh, and Rs 7 lakh investments.
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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 is SBI's Amrit Vrishti?
The State Bank of India (SBI) has reintroduced its special Fixed Deposit scheme called "Amrit Vrishti", featuring a specific tenor of 444 days. The bank has reduced the interest rate by 20 basis points under this scheme. It is effective from April 15, 2025.
What is BoB Square Drive Deposit?
State-owned Bank of Baroda has recently announced key changes to its Fixed Deposit (FD) offerings. According to a press release, the bank has launched a new FD option named the ‘bob Square Drive Deposit Scheme’. The revised FD interest rates, along with this new scheme, came into effect on April 7, 2025, and are applicable to deposits below ₹3 crore. The bank has also discontinued its special Utsav Deposit Scheme.
SBI 444-day FD: Interest rate
Under the Amrit Vrishti scheme (444-day tenor):
General citizens are offered an interest rate of 7.05 per cent.
Senior citizens are offered an interest rate of 7.55 per cent.
These rates are effective from April 15, 2025.
BoB 444-day FD: Interest rate
Under the bob Square Drive Deposit Scheme (444-day tenor):
General citizens are offered an interest rate of 7.15 per cent.
Senior citizens are offered an interest rate of 7.65 per cent.
These rates are effective from April 7, 2025.
SBI 444-Day FD: Maturity on Rs 3 lakh investment (General Citizen)
Estimated Maturity Value: Rs 3,26,619.01
Estimated Interest Earned: Rs 26,619.01
BOB 444-Day FD: Maturity on Rs 3 lakh investment (General Citizen)
Estimated Maturity Value: Rs 3,27,009.63
Estimated Interest Earned: Rs 27,009.63
SBI 444-Day FD: Maturity on Rs 5 lakh investment (General Citizen)
Estimated Maturity Value: Rs 5,44,365.02
Estimated Interest Earned: Rs 44,365.02
BoB 444-Day FD: Maturity on Rs 5 lakh investment (General Citizen)
Estimated Maturity Value: Rs 5,45,016.05
Estimated Interest Earned: Rs 45,016.05
SBI 444-Day FD: Maturity on Rs 7 lakh investment (General Citizen)
Estimated Maturity Value: Rs 7,62,111.03
Estimated Interest Earned: Rs 62,111.03
BoB 444-Day FD: Maturity on Rs 7 lakh investment (General Citizen)
Estimated Maturity Value: Rs 7,63,022.47
Estimated Interest Earned: Rs 63,022.47