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Six Banks Offer Deposits for 444 Days: Interest Rate Comparison
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Aaj Tak
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Six Banks Offer Deposits for 444 Days: Interest Rate Comparison

Fixed Deposits (FDs) remain an attractive investment option. Recently, banks have been actively offering favorable interest rates on deposits and launching special schemes for various terms. Among these, the 444-day FD scheme is popular due to its high returns. Five major banks, including SBI, offer this type of deposit.

Investing in FDs is considered low-risk as they do not carry risk. This is particularly beneficial for senior citizens, to whom banks often offer higher rates compared to regular customers. Currently, the five mentioned banks offer regular customers an annual interest rate ranging from 6.45% to 6.75% under the 444-day FD scheme.

The Central Bank of India ranks first among public sector banks in offering interest rates under the 444-day FD scheme. It offers a 6.75% annual interest rate to regular customers.

Punjab National Bank (PNB) also runs a special 444-day FD scheme for its customers. The rate is 6.60% for regular customers and 7.10% for senior citizens. Furthermore, Punjab National Bank offers a high yield of up to 7.40% for very elderly citizens.

Indian Overseas Bank offers an annual rate of 6.60% under the 444-day fixed deposit scheme for regular customers, similar to PNB. This interest rate has been offered by the bank since May 15, 2026.

The 444-day FD scheme offered by Canara Bank also provides attractive interest rates for regular customers. Canara Bank offers its regular customers an annual rate of 6.50% when opening a deposit for this term.

The country's largest public sector bank, State Bank of India (SBI), also offers a special 444-day FD to its customers. Regular customers receive an annual interest rate of 6.45% when opening a deposit here.

In Bank of Baroda (BoB), the 444-day deposit is offered under the name Bob Square Drive Deposit Scheme. The rate is 6.45% per annum for regular customers, while for senior citizens it is 6.95%. Super-senior citizens aged 80 and above are offered an interest rate of 7.05%.

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Utkarsh Small Finance Bank offers special 666-day FD with interest rates up to 8.25%
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www.aajtak.in

Utkarsh Small Finance Bank offers special 666-day FD with interest rates up to 8.25%

The popularity of Fixed Deposit schemes (FD Scheme) is constantly growing as many banks offer attractive interest rates to clients for placing funds. Investors are attracted by both the security of their investments and high returns. Furthermore, smaller financial banks are outpacing large banks in terms of profitability, offering more benefits to both senior citizens and regular customers.

If you are planning to invest in an FD, the special 666-day FD scheme from Utkarsh Small Finance Bank may be a profitable option. This product is suitable not only for the elderly but also for ordinary investors.

The 666-day fixed deposit scheme from Utkarsh Small Finance Bank is beneficial for both senior citizens and general investors. Regular customers are offered an annual interest rate of 8.10%, while senior citizens are provided with a higher rate of 8.25%. These interest rates apply to deposits of less than 3 crore rupees. The bank started applying this high interest rate on May 5th. Thus, compared to ordinary investors, pensioners receive a direct advantage of 15 basis points under the Special 666-Day FD.

Calculating the benefit for senior citizens when investing in the Special 666-Day FD is quite simple. For example, if a senior citizen deposits 5 lakh rupees in this special deposit for 666 days, the amount upon maturity will be 5,80,338 rupees, of which the income will be 80,338 rupees.

For ordinary citizens, there is a decrease in the maturity amount of 1554 rupees. At an 8.10% rate, ordinary citizens will earn approximately 78,784 rupees in interest income from the FD when investing five lakh rupees for 666 days, and their deposit fund will be 5,78,784 rupees.

It is important to remember that taxation is applied to the interest earned on FD investments, which may affect the final amount. The bank's website clearly states that TDS will be applied to the income derived from FD investments in accordance with the Income Tax Act and its rules.

Another important point is that before opening an FD in any bank, one should not only look at which bank offers the highest interest rate. Even if a bank offers a very high rate on FD for senior citizens, the choice of the FD scheme should not be based solely on this. It is also necessary to consider the bank's financial standing, the deposit term, early withdrawal conditions, and the established deposit insurance limit, and only after thorough verification should an investment decision be made.

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