Fixed deposits (FDs) have long been a preferred investment choice for those looking for secure, low-risk and predictable returns. While mutual funds and stock markets have gained traction in recent years, banks continue to offer attractive FD schemes to retain depositors. Among these, 444-day special FDs have emerged as a compelling option, offering higher interest rates than regular term deposits.
Several leading banks, including State Bank of India (SBI), Indian Overseas Bank (IOB), and Federal Bank, have rolled out limited-period special FD schemes. These FDs offer better returns than standard deposits, making them an appealing option for investors looking for fixed-income security.
Here’s a detailed look at how much you can earn by investing Rs 2 lakh, Rs 4 lakh, and Rs 6 lakh in these schemes:
SBI Amrit Kalash FD (444 days)
SBI introduced its special fixed deposit scheme, Amrit Kalash, in February 2023, offering an attractive interest rate to both general and senior citizen investors. Initially set to end on September 30, 2024, the scheme has been extended multiple times, with the latest deadline set for March 31, 2025.
– Interest rate: 7.25 per cent
– Returns:
– Rs 2 lakh investment: Estimated maturity value – Rs 2,18,267; Estimated interest earned – Rs 18,267
– Rs 4 lakh investment: Estimated maturity value – Rs 4,36,534; Estimated interest earned – Rs 36,534
– Rs 6 lakh investment: Estimated maturity value – Rs 6,54,801; Estimated interest earned – Rs 54,801
Indian Overseas Bank (IOB) 444-day FD
Indian Overseas Bank (IOB), one of India’s oldest banks, also offers a 444-day fixed deposit with a slightly higher interest rate than SBI.
– Interest rate: 7.30 per cent
– Returns:
– Rs 2 lakh investment: Estimated maturity value – Rs 2,18,397; Estimated interest earned – Rs 18,397
– Rs 4 lakh investment: Estimated maturity value – Rs 4,36,795; Estimated interest earned – Rs 36,795
– Rs 6 lakh investment: Estimated maturity value – Rs 6,55,192; Estimated interest earned – Rs 55,192
Federal Bank 444-day FD
Federal Bank offers the highest interest rate among the three banks, making it an attractive choice for fixed deposit investors.
– Interest rate: 7.50 per cent
– Returns:
– Rs 2 lakh investment: Estimated maturity value – Rs 2,18,919; Estimated interest earned – Rs 18,919
– Rs 4 lakh investment: Estimated maturity value – Rs 4,37,839; Estimated interest earned – Rs 37,839
– Rs 6 lakh investment: Estimated maturity value – Rs 6,56,759; Estimated interest earned – Rs 56,759
444-Days FD: Which one offers better returns?
While all three banks offer competitive interest rates, Federal Bank stands out with the highest returns, providing an interest rate of 7.50 per cent. IOB follows closely with 7.30 per cent, while SBI offers 7.25 per cent.
(Disclaimer: Our calculations are projections and not investment advice. Do your due diligence or consult an expert for financial planning)
