SBI vs BOB 444-Day Special FD: Which Bank Offers Better Returns for Investors?
Fixed deposits (FDs) continue to remain one of the most preferred investment options in India, especially for those seeking safety and guaranteed returns. To attract depositors, leading public sector banks frequently introduce special FD schemes with unique tenures and competitive interest rates.
Among these, State Bank of India (SBI) and Bank of Baroda (BOB)—two of the country’s largest public sector lenders—currently offer a special 444-day fixed deposit scheme. Investors often wonder which bank provides higher returns on this tenure. Here’s a detailed comparison to help you decide.
Why Investors Prefer Special FD Schemes
Bank FDs are popular because they combine safety with assured returns. Unlike market-linked instruments, fixed deposits provide predictable earnings without the risk of capital loss.
Special FDs—launched for specific durations such as 444 days, 555 days, or even longer—often come with slightly higher interest rates compared to regular FDs. This makes them attractive for investors looking to lock in better returns for a short to medium-term period.
SBI 444-Day Special FD: Amrit Vrishti Scheme
India’s largest public sector bank, SBI, offers a special FD under the name Amrit Vrishti Scheme. This scheme comes with a tenure of 444 days and provides the following interest rates:
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General citizens: 6.60% per annum
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Senior citizens: 7.10% per annum
This makes it a solid option for those who prefer stability and trust in India’s biggest state-owned bank. For senior citizens, the additional 0.50% rate ensures higher income security during retirement years.
BOB 444-Day Special FD: Square Drive Deposit Scheme
Similarly, Bank of Baroda (BOB) offers its own 444-day FD known as the Square Drive Deposit Scheme. Under this plan, the interest rates are exactly the same as SBI’s:
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General citizens: 6.60% per annum
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Senior citizens: 7.10% per annum
Like SBI, BOB has also structured this product to attract both young investors and retirees. The scheme is popular among depositors who want to diversify their FD holdings across multiple banks.
Which Bank Gives Higher Returns?
On paper, both SBI and BOB offer identical interest rates for their 444-day FD schemes. That means whether you invest in SBI’s Amrit Vrishti Scheme or BOB’s Square Drive Deposit Scheme, the return percentage remains the same.
So, how should investors choose between the two? Here are some factors to consider:
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Bank preference: Many depositors stick with their primary bank for ease of operation.
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Branch accessibility: If one bank branch is more accessible than the other, it might be more convenient.
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Digital facilities: Online FD booking and premature withdrawal facilities may differ.
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Additional benefits for seniors: Both banks offer the same rate, but some branches may provide added services for retirees.
Key Points for Investors
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Both SBI and BOB offer 6.60% for regular customers and 7.10% for senior citizens on their 444-day FD.
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Returns are identical, so the choice comes down to banking convenience, accessibility, and service quality.
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Investors can calculate maturity values using an FD calculator, considering the invested amount and interest rate.
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Since both are government-backed public sector banks, the safety of funds is assured.
Final Word
For investors comparing the 444-day special FD schemes of SBI and BOB, the verdict is simple: both banks offer the same interest rates. This means you can choose either based on your personal banking relationship, branch convenience, or digital facilities.
If you’re a senior citizen, the 7.10% interest rate offered by both banks provides a secure way to grow your retirement savings. With guaranteed returns and government backing, these special FDs remain a reliable option for conservative investors.
