Short-Term Investment: Which banks offer best interest rates on FDs of 400 to 444 days?

ZeeBiz WebTeam | Oct 09, 2024, 02:08 AM IST

Short-Term Investment: If you're considering a short-term investment, fixed deposits (FDs) can be an excellent option. Many banks currently offer special FD schemes with tenures ranging from 400 to 444 days—just over one year—with attractive interest rates.

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Interest Rates Offered By Bank

Here’s a breakdown of the interest rates offered by various banks on these FDs.

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SBI 400-day

State Bank of India (SBI) offers a 400-day Amrit Kalash scheme, providing a 7.10 per cent interest rate for regular investors and 7.60 per cent for senior citizens.

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SBI 444-day

For the 444-day Amrit Varsha FD, the interest rates are 7.25 per cent for general investors and 7.75 per cent for senior citizens.

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PNB General Public

Punjab National Bank (PNB) offers 7.25 per cent interest on 400-day FDs for the general public.

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PNB Senior Citizens

Senior citizens receive 7.75 per cent, while super senior citizens can earn up to 8.05 per cent.

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Canara Bank

Canara Bank provides a 7.25 per cent interest rate for general citizens on 444-day FDs, with senior citizens earning up to 7.75 per cent.

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Bank of Baroda

At the Bank of Baroda, the interest rate for 400-day FDs is 7.00 per cent for general citizens and 7.50 per cent for senior citizens.

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Union Bank of India

Union Bank of India offers a 7.25 per cent interest rate for general citizens and 7.75 per cent for senior citizens on its 399-day FDs.

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FD Rates: Several options

There are several options for investing in FD. You can start the FD with as low as Rs 1,000. Usually, FD can be done for a period of 7 days to 10 years.

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FD Rates: Risk-free investment

Fixed Deposit is considered to be the most risk-free investment option in the country as banks are monitored by RBI.

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