Public sector banks have launched a special fixed deposit scheme with a tenure of 444 days, offering attractive interest rates to investors. This short‑term product is designed to provide better returns than regular deposits while ensuring safety and stability.
The scheme allows individuals to invest amounts such as ₹5 lakh for nearly 15 months. Interest rates range between 6.45% and 6.75% for general citizens, with senior citizens receiving slightly higher benefits.
Central Bank of India offers the highest rate at 6.75% (₹5 lakh grows to about ₹5.41 lakh). Punjab National Bank and Indian Overseas Bank follow with 6.60% (₹5 lakh becomes nearly ₹5.40 lakh). Canara Bank provides 6.50% (₹5 lakh rises to ₹5.39 lakh). State Bank of India and Bank of Baroda stand at 6.45% (₹5 lakh grows to ₹5.38 lakh).
The compounding of interest ensures steady growth without market risks. Investors benefit from predictable earnings while keeping funds secure in government‑owned banks.
Financial experts suggest these deposits are suitable for those who prefer guaranteed returns over volatile investments. With safety backed by PSU banks, the 444‑day FD scheme is emerging as a reliable option for short‑term savers.