SBI 400-day FD vs Bank of India 400-day FD: Where will investors get higher returns on investments of Rs 4,54,545 and Rs 6,56,565?
SBI 400-day FD vs Bank of India 400-day FD: Special fixed deposit schemes can be for short as well as long durations. State Bank of India (SBI) and Bank of India both have FDs for 400 days, where an investor can get extra interest rates compared to the FDs of nearly or higher than the same durations.
SBI 400-day FD vs Bank of India 400-day FD: Banks offer special fixed deposit (FD) schemes for a limited duration, where investors can invest one time and get the amount on maturity. Most special FDs come with callable (with a premature withdrawal option) and non-callable options (withdrawal on maturity). The non-callable FD offers a higher interest rate than the callable option. Depending on investor interest, a bank can extend the deadline to invest in a special FD. A lot of investors invest in special FDs as banks often offer higher interest rates compared to traditional FDs of nearly or a slightly longer duration. State Bank of India (SBI) and Bank of India (BoI) offer a 400-day special FD each. SBI's 400-day FD scheme was launched in February 2023 and got many extensions. Bank of India launched its 400-day FD in September 2024. Know what interest rates they are offering to general and senior citizens in their 400-day FDs and what investors in each category will get on investments of Rs 4,54,545 and Rs 7,67,676.
Photos: Unsplash/Pixabay
(Disclaimer: This is not investment advice. Do your due diligence or consult an expert for financial planning.)
SBI 400-day Amrit Kalash FD: Interest rate for general citizens
SBI offers 7.10 per cent interest rate to general citizens.
SBI 400-day Amrit Kalash FD: Interest rate for senior citizens
The interest rate for senior citizens is 7.60 per cent.
Bank of India 400-day FD: Interest rate for general citizens
Bank of India offers a slightly higher interest rate at 7.30 per cent compared to what SBI offers to general citizens in its 400-day FD.
Bank of India 400-day FD: Interest rate for senior citizens
Senior citizens get 7.80 per cent interest in Bank of India's 400-day FD.
SBI 400-day Amrit Kalash FD: Maturity for general citizens on Rs 4,54,545 investment
The estimated interest on investing Rs 4,54,545 will be Rs 36,444.46, and the estimated maturity will be Rs 4,90,989.46.
SBI 400-day Amrit Kalash FD: Maturity for general citizens on Rs 7,67,676 investment
The estimated return on an investment of Rs 7,67,676 will be Rs 61,550.64, while the estimated maturity will be Rs 7,67,676.
SBI 400-day Amrit Kalash FD: Maturity for senior citizens on Rs 4,54,545 investment
The estimated interest senior citizens will get on investing Rs 4,54,545 will be Rs 39,093.39, and the estimated maturity amount will be Rs 4,93,638.39.
SBI 400-day Amrit Kalash FD: Maturity for senior citizens on Rs 7,67,676 investment
Senior citizens will get an estimated Rs 66,024.39 in interest and an estimated Rs 8,33,700.39 in maturity if they invest Rs 7,67,676 in the 400-day FD.
Bank of India 400-day FD: Maturity for general citizens on Rs 4,54,545 investment
The estimated interest general citizens will get will be Rs 66,024.39, while the estimated maturity amount will be Rs 8,33,700.39.
Bank of India 400-day FD: Maturity for general citizens on Rs 7,67,676 investment
The estimated maturity that general citizens will get will be Rs 63,337.91, and the estimated maturity will be Rs 831,013.91.
Bank of India 400-day FD: Maturity for senior citizens on Rs 4,54,545 investment
On investing Rs 4,54,545, senior citizens will get estimated interest of Rs 40,156.04, and the estimated maturity of Rs 4,94,701.04.
Bank of India 400-day FD: Maturity for senior citizens on Rs 7,67,676 investment
Senior citizens will get estimated interest of Rs 67,819.09, and the estimated maturity of Rs 835495.09.