Now Reading: Central Bank of India tops PSU banks with 6.75% on 444-day FD
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Central Bank of India tops PSU banks with 6.75% on 444-day FD
Central Bank of India offers the highest rate among public sector banks on its 444-day fixed deposit at 6.75% for general citizens, according to data from six lenders. A Rs 5-lakh deposit…
Central Bank of India offers the highest rate among public sector banks on its 444-day fixed deposit at 6.75% for general citizens, according to data from six lenders. A Rs 5-lakh deposit with the bank is set to yield an approximate maturity amount of Rs 5,42,416, including Rs 42,416 in interest. PNB and Indian Overseas Bank follow at 6.60% each, with a maturity of Rs 5,41,443 for the same investment.
SBI, Bank of Baroda offer 6.45% each on their 444-day schemes, named Amrit Vrishti and bob Square Drive Deposit respectively, resulting in a maturity of Rs 5,40,472. Canara Bank's 6.50% deposit gives Rs 5,40,795 at maturity. The rates are valid from various dates between March and June 2026, and the maturity calculations are approximate, varying by each bank's compounding method.
The 444-day deposit is a special-tenure product distinct from regular FDs. Savers can compare these offers to maximise returns on a five-lakh-rupee deposit across the six PSU banks listed.
Indian Opinion Analysis
The 444-day scheme is a special tenor deposit that public sector banks periodically offer to lock in elevated rates before any Reserve Bank of India policy shift. With the RBI holding the repo rate at 6.50% since February 2023, banks are competing aggressively for retail deposits to sustain credit growth without raising lending rates. The difference of 30 basis points between Central Bank of India's top offer (6.75%) and SBI's rate (6.45%) can yield Rs 3,944 extra on a Rs 5-lakh deposit. Investors should note that only deposits up to Rs 5 lakh per bank are insured under the Deposit Insurance and Credit Guarantee Corporation cover. The next monetary policy committee decision on February 7, 2026 will signal whether these elevated rates will hold or begin to ease, making the current special FDs a tactical bet for savers.
Source: economictimes.indiatimes.com
This story was synthesised by AI from the source linked above.
