Central Bank of India offers highest interest on 444-day FD

According to a report by TV9 Gujarati, if you are considering investing ₹10 lakh at once in a 444-day Fixed Deposit (FD), Central Bank of India is offering the highest estimated returns. In this comparison, State Bank of India (SBI) was found to have the lowest interest rate.

Central Bank of India is offering 6.75 per cent annual interest to general citizens on a 444-day FD. Both Punjab National Bank (PNB) and Indian Overseas Bank (IOB) provide a 6.60 per cent annual interest rate for a 444-day tenure. Meanwhile, under State Bank of India's Amrit Vrishti scheme, general citizens are receiving 6.45 per cent annual interest.

In this calculation, the estimated maturity amount after 444 days has been projected based on compounding interest every three months on a deposit amount of ₹10 lakh. It is noteworthy that taxes are not included in this amount. There remains a difference of ₹3,888 in the estimated maturity amount between Central Bank of India and SBI.

Thus, for investors, the interest rates and returns in a 444-day cumulative FD vary. Central Bank of India's interest rates are the highest, while SBI's interest rates are at the lowest level in this comparison.