444-Day Special FD Plans By PSU Banks: Know Which Offers Highest Return On ₹5 Lakh Deposit

For those looking for secure and short-term investment options with guaranteed returns, fixed deposits remain a popular choice. Public sector banks have introduced limited-period special FDs—particularly the 444-day fixed deposit scheme—that offer higher interest rates compared to regular FDs. These schemes are aimed at both general depositors and senior citizens, with the latter receiving a slightly enhanced rate of return. According to experts, these offerings are especially attractive during periods of stable or declining interest rate cycles.

What Makes The 444-Day FD Scheme Special?

The 444-day fixed deposit is a tailored product that offers better-than-average returns without locking in funds for multiple years. Offered by major public sector banks, this deposit term allows customers to benefit from promotional interest rates while maintaining liquidity. These schemes often feature enhanced rates for senior citizens, recognising their need for steady income and safe investment avenues.

Currently, four prominent public sector banks—State Bank of India (SBI), Canara Bank, Indian Bank and Indian Overseas Bank (IOB)—are offering this 444-day scheme. While the deposit term is the same across banks, the interest rates and maturity amounts differ slightly depending on the institution and the depositor category.

Interest Rates Offered By Leading PSU Banks

Each of the four banks has set specific rates for both general citizens and senior citizens under this scheme. Here’s a breakdown of the interest rates offered:

• State Bank of India (SBI) offers 6.60% for general citizens and 7.10% for senior citizens.
• Canara Bank offers identical rates to SBI: 6.60% for regular customers and 7.10% for senior citizens.
• Indian Bank provides one of the highest rates, with 6.90% for regular customers and 7.40% for senior citizens.
• Indian Overseas Bank (IOB) offers 6.75% to the general public and 7.25% to senior citizens.

Although these rates might appear close, their impact on the maturity amount becomes noticeable when larger sums are invested.