444-day FD: Maturity on Rs 5L deposit in PSU banks

Public sector banks offer attractive interest rates on special tenure deposits, such as the 444-day FD, compared to regular fixed deposits. The 444-day FD is a popular scheme offered by several public sector undertaking (PSU) banks, with varying interest rates and maturity amounts.

State Bank of India's (SBI) 444-day special FD, called the 'Amrit Vrishti' scheme, provides a 6.45% interest rate to general citizens. Bank of Baroda's bob Square Drive Deposit Scheme (444 days) also offers the same 6.45% interest rate. Canara Bank's 444-day deposit provides a 6.50% interest rate, while Central Bank of India offers 6.75%. Punjab National Bank and Indian Overseas Bank both provide a 6.60% interest rate for their 444-day FDs.

When considering an investment of Rs 5 lakh, Central Bank of India yields the highest maturity amount. With a 6.75% interest rate, the maturity amount would be approximately Rs 5,42,416. Punjab National Bank and Indian Overseas Bank also offer a 6.60% interest rate, resulting in maturity amounts of around Rs 5,41,443 for each. Canara Bank and SBI's 6.50% and 6.45% rates, respectively, lead to maturity amounts of approximately Rs 5,40,795 and Rs 5,40,472 for a Rs 5 lakh investment. Bank of Baroda, with its 6.45% interest rate, provides a maturity amount of roughly Rs 5,40,472.