State-owned banks offer higher returns on special-tenure fixed deposits (FD), outperforming standard term deposits. Among these, the 444-day FD scheme is a popular pick for general citizens seeking higher yields over a 14.5-month horizon.
Here is how the top public sector undertaking (PSU) banks stack up for a ₹5 lakh investment based on current interest rates and quarterly compounding:
State Bank of India’s (SBI) special 444-day FD is offered under its ‘Amrit Vrishti’ scheme. The bank currently offers a 6.45% annual interest rate to general citizens on this deposit.
Bank of Baroda offers a 444-day special deposit under its BoB Square Drive Deposit Scheme. General citizens can earn an interest rate of 6.45% on the deposit. The stated rate is effective from 12 June 2026.
Canara Bank offers a 444-day fixed deposit carrying an interest rate of 6.50% for general citizens. The applicable interest rate is effective from 17 March 2026.
Central Bank of India offers one of the highest rates among the PSU banks covered here. Its 444-day deposit provides a 6.75% interest rate to general citizens, with the rate applicable from 10 May 2026.
Punjab National Bank (PNB) offers a 6.60% interest rate to general citizens on its 444-day fixed deposit. The rate is applicable from 1 June 2026.
Indian Overseas Bank also offers a 6.60% interest rate to general citizens on its 444-day deposit. The applicable rate is effective from 15 May 2026.
Among these banks, Central Bank of India offers the highest interest rate at 6.75%, followed by PNB and Indian Overseas Bank at 6.60%. SBI and Bank of Baroda offer 6.45%, while Canara Bank offers 6.50% on their respective 444-day deposits
Note: The maturity amounts are approximate and may vary depending on the bank's compounding method and day-count calculation.
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