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Time of India
20-05-2025
- Business
- Time of India
Comparing 444-day FD schemes: Which bank offers what rate? Check details
AI-generated image Several banks have recently reduced their fixed deposit interest rates , with numerous banks introducing specialised 444-day FD schemes featuring competitive rates. These time-limited offerings seek to draw depositors looking for enhanced returns in a fluctuating interest rate climate. Below is a comprehensive analysis of schemes from four major banks, as quoted by Economic Times. SBI's "Amrit Vrishti" delivers a 6.85% annual interest rate for regular customers. Senior citizens receive 7.35% yearly, while super senior citizens (80 years and above) enjoy 7.45% per annum. These rates commenced from May 16, 2025. Canara Bank's 444-day deposit scheme offers 7.25% yearly interest for regular customers (deposits under Rs 3 crore), with senior citizens receiving 7.75% per annum. This programme began on April 10, 2025. The "Square Drive Deposit Scheme" from Bank of Baroda provides 7.10% annual interest. Senior citizens qualify for 7.60%, and super senior citizens (80 years and above) can earn 7.70% yearly. These rates took effect from May 5, 2025. Indian Bank's "IND SECURE" scheme spans 444 days, offering regular customers 7.15% yearly interest. Senior citizens receive 7.65%, whilst super senior citizens (80 and above) can secure 7.90% per annum. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like The Top 25 Most Beautiful Women In The World Articles Vally Undo This scheme remains available until September 30, 2025. Key details (Source: Bank websites as on May 20, 2025) State Bank of India Scheme: Amrit Vrishti Tenure: 444 Days Rates: 6.85 per cent (General), 7.35 per cent (Senior), 7.45 per cent (Super Senior) Effective: From May 16, 2025 Canara Bank Scheme : 444-Day FD Scheme Rates : 7.25 per cent (General), 7.75 per cent (Senior), Not specified (Super Senior) Effective : From April 10, 2025 Bank of Baroda Scheme : Square Drive Deposit Scheme Rates : 7.10 per cent (General), 7.60 per cent (Senior), 7.70 per cent (Super Senior) Effective : From May 5, 2025 Indian Bank Scheme : IND SECURE Rates : 7.15 per cent (General), 7.65 per cent (Senior), 7.90 per cent (Super Senior) Valid Till : September 30, 2025 Note: Tenure of all schemes is 444 days Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
20-05-2025
- Business
- Time of India
444-day fixed deposit schemes: SBI, Canara Bank, Indian Bank and Bank of Baroda
Several major banks have cut their fixed deposit interest rates and many banks are offering special fixed deposit (FD) schemes with attractive interest rates for a tenure of 444 days. These limited-period schemes aim to attract depositors seeking better returns amid an unstable interest rate environment. Here's a detailed comparison of offerings from State Bank of India (SBI), Canara Bank, Indian Bank and Bank of Baroda. SBI's Amrit Vrishti SBI's Amrit Vrishti scheme—this special 444-day fixed deposit offers an interest rate of 6.85% per annum for general senior citizens, the bank offers 7.35% per annum and for super senior citizens (aged 80 years and above), the bank offers an interest rate of 7.45% per annum on Amrit Vrishti. This rate is effective from May 16, 2025. SBI cuts fixed deposit interest rates again by 20 bps: Check latest FD rates Canara Bank's 444-Day FD Canara Bank offers an FD rate of 7.25% per annum for general citizens on a 444-day deposit for amounts below Rs 3 crore. Senior citizens benefit from a higher rate of 7.75% per annum. This scheme is in effect from April 10, 2025. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Packing Machine From Malaysia Might Be Cheaper Than You Think Packing Machine | Search Ads Undo Canara bank cuts FD rates by up to 20 bps: Check latest rates Bank of Baroda's Square Drive Deposit Scheme Bank of Baroda offers an interest rate of 7.10% per annum on its Square Drive Deposit Scheme with a tenure of 444 days. Senior citizens are eligible for a higher rate of 7.60%, while super senior citizens (aged 80 years and above) can earn up to 7.70% per annum. These revised rates have been effective since May 5, 2025. Indian Bank's IND SECURE Indian Bank is offering a special fixed deposit scheme called IND SECURE with a tenure of 444 days. Under this scheme, general citizens can earn an interest rate of 7.15% per annum, while senior citizens are eligible for 7.65%, and super senior citizens (aged 80 and above) can avail a higher rate of 7.90% per annum. This special FD scheme is open for investment until September 30, 2025. Live Events Bank Scheme Name Tenure General Citizens Senior Citizens Super Senior Citizens Effective/Valid Until State Bank of India Amrit Vrishti 444 Days 6.85% 7.35% 7.45% Effective from May 16, 2025 Canara Bank 444-Day FD Scheme 444 Days 7.25% 7.75% Not specified Effective from April 10, 2025 Bank of Baroda Square Drive Deposit Scheme 444 Days 7.10% 7.60% 7.70% Effective from May 5, 2025 Indian Bank IND SECURE 444 Days 7.15% 7.65% 7.90% Valid till September 30, 2025 Source: Bank websites as on May 20, 2025
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Business Standard
15-05-2025
- Business
- Business Standard
Indian Bank launches 2 new fixed deposit schemes, ends two other plans
IND SECURE and IND GREEN offer rates of up to more than 7% for general customers New Delhi Indian Bank has introduced two new fixed deposit (FD) schemes, IND SECURE and IND GREEN, effective May 8. It has discontinued the IND SUPER 400 Days and IND SUPREME 300 Days schemes. New fixed deposit schemes IND SECURE (444 days): Interest rates: General public: 7.15 per cent per annum Senior citizens: 7.65 per cent per annum Super senior citizens: 7.90 per cent per annum Investment range: Minimum Rs 1,000 up to less than Rs 3 crore Validity: Open for investment until September 30, 2025 IND GREEN (555 days): Interest rates: General public: 6.80 per cent per annum Senior citizens: 7.30 per cent per annum Super senior citizens: 7.55 per cent per annum Investment range: Minimum Rs 1,000 up to less than Rs 3 crore Validity: Open for investment until September 30, 2025 These schemes are available in the form of FD or money multiplier deposit with callable options. IND GREEN is designed to promote sustainable development while providing guaranteed returns, according to Indian Bank. Discontinued FD schemes As of May 8, 2025, Indian Bank has discontinued the following schemes: IND SUPER 400 Days IND SUPREME 300 Days No new deposits will be accepted under these schemes. Existing deposits will continue to earn interest as per the agreed terms until maturity. Revised standard FD interest rates Indian Bank has updated its standard fixed deposit interest rates for deposits below Rs 3 crore. The revised rates are effective from May 8, 2025. Below is the detailed table of interest rates and tenures provided by the bank Period / Tenor of Deposit Less than Rs.3 crore Revised Rate (% per annum ) 7 days to 14 days 2.8 15 days to 29 days 2.8 30 days to 45 days 3 46 days to 90 days 3.25 91 days to 120 days 3.5 121 days to 180 days 3.85 181 days to less than 9 months 4.5 9 months to less than 1 year other than 300 Days. 4.75 1 year 6.1 444 days 7.15* 555 Days 6.80* Above 1 year to less than 2 years other than 444 days & 555 days 7.1 2 years to less than 3 years 6.7 3 years to less than 5 years 6.25 5 year 6.25 Above 5 years 6.1 Foreclosure charges Premature withdrawal in the new FD schemes, IND SECURE and IND GREEN, is allowed, but may attract a penalty. Typically, interest is paid at 1 per cent lower than the applicable rate for the actual deposit period. No interest is paid if the deposit is withdrawn within seven days.
