Several major banks have cut their fixed deposit interest rates and many banks are offering special fixed deposit (FD) schemes with attractive interest rates for a tenure of 444 days. These limited-period schemes aim to attract depositors seeking better returns amid an unstable interest rate environment. Here’s a detailed comparison of offerings from State Bank of India (SBI), Canara Bank, Indian Bank and Bank of Baroda.
SBI’s Amrit Vrishti
SBI’s Amrit Vrishti scheme—this special 444-day fixed deposit offers an interest rate of 6.85% per annum for general citizens.For senior citizens, the bank offers 7.35% per annum and for super senior citizens (aged 80 years and above), the bank offers an interest rate of 7.45% per annum on Amrit Vrishti. This rate is effective from May 16, 2025.
SBI cuts fixed deposit interest rates again by 20 bps: Check latest FD rates
Canara Bank’s 444-Day FD
Canara Bank offers an FD rate of 7.25% per annum for general citizens on a 444-day deposit for amounts below Rs 3 crore. Senior citizens benefit from a higher rate of 7.75% per annum. This scheme is in effect from April 10, 2025.
Canara bank cuts FD rates by up to 20 bps: Check latest rates
Bank of Baroda’s Square Drive Deposit Scheme
Bank of Baroda offers an interest rate of 7.10% per annum on its Square Drive Deposit Scheme with a tenure of 444 days. Senior citizens are eligible for a higher rate of 7.60%, while super senior citizens (aged 80 years and above) can earn up to 7.70% per annum. These revised rates have been effective since May 5, 2025.
Indian Bank’s IND SECURE
Indian Bank is offering a special fixed deposit scheme called IND SECURE with a tenure of 444 days. Under this scheme, general citizens can earn an interest rate of 7.15% per annum, while senior citizens are eligible for 7.65%, and super senior citizens (aged 80 and above) can avail a higher rate of 7.90% per annum. This special FD scheme is open for investment until September 30, 2025.
| Bank | Scheme Name | Tenure | General Citizens | Senior Citizens | Super Senior Citizens | Effective/Valid Until |
| State Bank of India | Amrit Vrishti | 444 Days | 6.85% | 7.35% | 7.45% | Effective from May 16, 2025 |
| Canara Bank | 444-Day FD Scheme | 444 Days | 7.25% | 7.75% | Not specified | Effective from April 10, 2025 |
| Bank of Baroda | Square Drive Deposit Scheme | 444 Days | 7.10% | 7.60% | 7.70% | Effective from May 5, 2025 |
| Indian Bank | IND SECURE | 444 Days | 7.15% | 7.65% | 7.90% | Valid till September 30, 2025 |
Source: Bank websites as on May 20, 2025 Source Link
