444-Day Special FDs: Several Indian banks continue to offer a special fixed deposit with a 444-day tenure that has been popular among conservative investors seeking stable and guaranteed returns. While fixed deposits have lost some ground to equities, mutual funds and other market-linked options, banks are keeping interest alive through limited-period schemes that carry slightly higher rates than standard FDs.
The 444-day scheme is currently available at State Bank of India, Punjab and Sind Bank, Indian Overseas Bank and Indian Bank. Each of these lenders offers different interest rates for general citizens, senior citizens and super senior citizens. The deposit has drawn attention not only for its unusual tenure but also for the higher returns it promises compared with traditional FDs.
In this write-up, we will compare how much a general citizen can earn from the 444-day special FDs of the four banks mentioned above on investments of Rs 12,22,222 and Rs 14,44,444.
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Also Read: Senior Citizen Latest FD Rates: Here is what PSU banks like SBI, BoB, PNB, and other banks are providing on 1-year, 3-year, 5-year, and 10-year FDs
SBI 444-day FD
State Bank of India, under its Amrit Vrishti Special FD scheme, offers general depositors an interest rate of 6.60 percent.
On an investment of Rs 12,22,222, the maturity value is Rs 13,23,527.20, with interest earnings of Rs 1,01,305.20.
On an investment of Rs 14,44,444, the maturity value is Rs 15,64,168.31, with interest earnings of Rs 1,19,724.31.
Punjab and Sind Bank 444-day FD
Punjab and Sind Bank provides general customers an interest rate of 6.80 percent on its 444-day fixed deposit scheme.
On Rs 12,22,222, the maturity value is Rs 13,26,697.92, with interest of Rs 1,04,475.92.
On Rs 14,44,444, the maturity value is Rs 15,67,915.53, with interest of Rs 1,23,471.53.
Indian Bank 444-day FD
Indian Bank offers general depositors an interest rate of 6.70 percent.
On Rs 12,22,222, the maturity value is Rs 13,25,111.81, with interest of Rs 1,02,889.81.
On Rs 14,44,444, the maturity value is Rs 15,66,041.03, with interest of Rs 1,21,597.03.
Indian Overseas Bank 444-day FD
Indian Overseas Bank provides general depositors an interest rate of 6.75 percent.
On Rs 12,22,222, the maturity value is Rs 13,25,904.67, with interest of Rs 1,03,682.67.
On Rs 14,44,444, the maturity value is Rs 15,66,978.05, with interest of Rs 1,22,534.05.
(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.)