IDBI Utasav FD vs SBI Amrit Vrishti FD: Most investors in fixed deposits consider to be safe to invest. Recently, after reducing the repo rate of RBI, most of the banks have reduced interest rates on fixed deposits. In such a situation, most investors are wondering where to invest? Many banks are running FD scheme for a few days. SBI and IDBI Banks are offering 444 days special FD schemes. SBI’s 444 -day FD is named Amrit Vrishti and IDBI Bank’s FD is celebrated. Learn here which banks are offering the best interest on 444 days FD.
IDBI Bank Festival FD
IDBI Bank is offering 444 days of celebration FD. The bank had cut the interest rate of FD on 12 June. IDBI Utsav can invest in FD till 30 June 2025. The interest rate for General category, NRE, NRO on FD is 6.85% annually. The same rate for senior citizens is 7.35 percent.
How much interest will be available on investment of Rs 5 lakh?
The general investor will get a total of Rs 5,41,685 for investing Rs 5 lakh for 444 days. That is, the benefit of Rs 41,685 from interest. At the same time, senior citizens will get an interest of Rs 44,720 for investing Rs 5 lakh.
SBI Amrit Vrishti
The SBI scheme is 443 days of Amrit Vrishti. Here the interest is getting less than IDBI. SBI is offering an interest of 6.60 percent to the general category on this scheme. At the same time, senior citizens are paying 7.10 percent interest.
How much interest will be available on investment of Rs 5 lakh?
The general investor gets a total of 5,40,145 on maturity on applying Rs 5 lakh in SBI Bank’s Amrit Vrishti scheme. That is, an interest of Rs 40,145 will be available. At the same time, senior citizens will get Rs 5,43,230 on investing Rs 5 lakh for 444 days. They will get an interest of Rs 43,230.
In which scheme will you get more benefit?
The difference between the two FD schemes is not too much, but the interest rate in IDBI Utsav FD scheme is slightly higher. Especially senior citizens are getting good interest. This interest is more than the interest offered by SBI Bank. It is getting more interest of 1000 to 1500 rupees. This IDBI scheme is open till 30 September 2025, so the investor has a long time to invest in it.