The article discusses the 444-day special fixed deposit (FD) schemes offered by three leading banks in India: State Bank of India (SBI), Indian Overseas Bank (IOB), and Federal Bank. These FDs offer higher interest rates than regular term deposits, making them an attractive option for investors seeking fixed-income security. The article provides a detailed analysis of the returns an investor can expect by investing different amounts (Rs 2 lakh, Rs 4 lakh, and Rs 6 lakh) in each bank’s 444-day FD scheme.
The 444-day FD schemes offered by SBI, IOB, and Federal Bank are as follows:
* SBI Amrit Kalash FD: 7.25% interest rate for general citizens, with estimated returns ranging from Rs 18,267 to Rs 54,801 for investments of Rs 2 lakh to Rs 6 lakh, respectively.
* IOB 444-day FD: 7.30% interest rate for general citizens, with estimated returns ranging from Rs 18,397 to Rs 55,192 for investments of Rs 2 lakh to Rs 6 lakh, respectively.
* Federal Bank 444-day FD: 7.50% interest rate for general citizens, with estimated returns ranging from Rs 18,919 to Rs 56,759 for investments of Rs 2 lakh to Rs 6 lakh, respectively.
The article concludes that Federal Bank’s 444-day FD scheme offers the highest returns, with an interest rate of 7.50%. IOB follows closely with 7.30%, while SBI offers 7.25%. The article advises investors to do their due diligence and consult an expert for financial planning before investing in these schemes.