Several leading public sector banks (PSBs) are now offering a special 444-day Fixed Deposit (FD) — and it’s quickly becoming a favorite among investors.
Known for their safety and assured returns, FDs are once again in the spotlight as banks roll out limited-period, high-interest offers to attract deposits.
If you’re looking for a short-term yet rewarding investment, this 444-day scheme might be worth your attention.
Here’s a breakdown of the latest rates offered by top PSU banks and how much you can expect to earn on a ₹9.5 lakh investment.
Interest Rates Offered by Top PSU Banks
State Bank of India (SBI)
Under its Amrit Vrishti Special FD Scheme, SBI offers 6.6% interest to general depositors for a 444-day tenure.
Bank of Baroda (BoB)
BoB matches SBI’s offer with the same 6.6% interest rate for general customers.
Punjab & Sind Bank
This bank also offers 6.6% interest, keeping it in line with SBI and BoB’s special FD schemes.
Indian Overseas Bank (IOB) and Indian Bank
Both these banks offer slightly higher returns of 6.7%, making them some of the most attractive options for general investors.
Canara Bank
Canara Bank’s 444-day special FD provides an interest rate of 6.5%, which is slightly lower but still competitive among PSU offerings.
How Much Will You Earn on ₹9.5 Lakh?
Let’s see how these interest rates translate into maturity amounts for general customers:
SBI, BoB, Punjab & Sind Bank: ₹10,28,741 (Interest earned: ₹78,741)
IOB, Indian Bank: ₹10,29,973 (Interest earned: ₹79,973)
Canara Bank: ₹10,27,511 (Interest earned: ₹77,511)
Clearly, Indian Bank and IOB offer a slight edge when it comes to returns on the 444-day FD.
Should You Invest?
For investors seeking short-term stability with decent returns, the 444-day FD from PSU banks is a solid choice.
It’s safer than market-linked investments and offers better returns than most regular FDs.
However, remember that interest rates can change, and the figures above are indicative.
Always check the latest rates and consult a financial advisor before investing.
