Special FDs for Senior Citizens: SBI, BoB, Indian Bank offer up to 7.60% on 444-day deposits—Check returns on Rs 9.5 lakh investment
444-Day Special FDs: Special FDs are limited-time deposit schemes launched by banks to attract investors by offering higher-than-usual interest rates.
444-Day Special FDs: With the Reserve Bank of India (RBI) slashing the repo rate by 50 basis points, fixed deposit (FD) interest earnings may come under pressure in the near term. However, for senior citizens, special FDs—like the 444-day scheme—remain a golden opportunity. These schemes offer higher interest rates than standard FDs, allowing seniors to lock in attractive returns for a defined tenure.
Here’s how much senior investors can potentially earn on deposits up to Rs 9,25,000 under these 444-day schemes.
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(Disclaimer: The returns mentioned above are indicative and subject to change. Investors are advised to verify the latest interest rates and consult financial experts before making any investment decisions.)
What are special fixed deposits (FDs)?
Special FDs are limited-time deposit schemes launched by banks to attract investors by offering higher-than-usual interest rates. Unlike standard FDs, these schemes are often tied to specific durations and are not available year-round.
Special FD vs Standard FD
Standard FDs come with flexible tenures and are available at any time. In contrast, special FDs are rolled out during promotional campaigns for specific periods and offer better interest rates—usually for predefined tenures like 444 days. These make them especially beneficial during rate cut cycles.
SBI 'Amrit Vrishti' scheme interest rate
State Bank of India (SBI), under its 'Amrit Vrishti' 444-day FD scheme, is currently offering senior citizens an interest rate of 7.10 per cent. This is higher than the standard senior citizen FD rate, making it a lucrative short-term option.
Bank of Baroda (BoB) 444-day Special FD
Senior citizens investing in Bank of Baroda’s ‘BoB Drive’ 444-day special FD can earn 7.50 per cent interest—one of the highest rates currently being offered in this category.
Indian Bank 444-day Special FD
Indian Bank is offering senior citizens a competitive rate of 7.40 per cent on its 444-day special fixed deposit, making it another attractive option to consider for safe returns.
Indian Overseas Bank (IOB) 444-day Special FD
Among the top offerings, Indian Overseas Bank is providing senior citizens an interest rate of 7.60 per cent on its 444-day special FD—currently the highest among the four banks listed.
SBI 444-day FD: Maturity on Rs 9,25,000 investment for senior citizens
Estimated maturity value: Rs 10,07,677.35
Estimated interest earned: Rs 82,677.35
BoB 444-day FD: Maturity on Rs 9,25,000 investment for senior citizens
Estimated maturity value: Rs 10,12,504.10
Estimated interest earned: Rs 87,504.10
Indian Bank 444-day FD: Maturity on Rs 9,25,000 investment for senior citizens
Estimated maturity value: Rs 10,11,295.69
Estimated interest earned: Rs 86,295.69
Indian Overseas Bank 444-day FD: Maturity on Rs 9,25,000 investment for senior citizens
Estimated maturity value: Rs 10,13,713.65
Estimated interest earned: Rs 88,713.65