SBI 444-Day vs Union Bank 456-Day FD: Complete Returns Comparison
When it comes to maximizing returns on your fixed deposits, choosing between different bank schemes can significantly impact your earnings. Two standout options currently available are the SBI 444-day Amrit Vrishti FD and the Union Bank of India 456-day FD. Both offer competitive interest rates, but which one delivers better returns on substantial investments like Rs 4.75 lakh and Rs 6.75 lakh?
This comprehensive analysis breaks down the exact returns, interest calculations, and key differences between these two popular fixed deposit schemes. Whether you're a conservative investor looking for guaranteed returns or someone comparing special FD schemes, this guide will help you make an informed decision.
🏦 Quick Overview of Both FD Schemes
SBI 444-Day Amrit Vrishti FD
Tenure: 444 days (fixed)
Status: Special promotional scheme
Senior Citizens: 7.10%
Super Senior Citizens: 7.20%
Union Bank 456-Day FD
Tenure: 456 days (fixed)
Status: Regular offering
Senior Citizens: 7.35%
Super Senior Citizens: 7.45%
Key Insight: Union Bank of India offers the highest FD interest rate of 6.85% for 456 days, while SBI's Amrit Vrishti scheme offers 6.60% for 444 days. This 0.25% difference, combined with the longer tenure, makes Union Bank's offering more attractive for regular customers.
📊 Current Interest Rates Comparison
Interest Rate Comparison Chart
SBI 444-Day
Regular Customers
Union Bank 456-Day
Regular Customers
Senior Citizen Benefits
Both banks offer enhanced rates for senior citizens (60+ years) and super senior citizens (80+ years):
- SBI Senior Citizens: Additional 0.50% (total 7.10%)
- SBI Super Senior Citizens: Additional 0.60% (total 7.20%)
- Union Bank Senior Citizens: Additional 0.50% (total 7.35%)
- Union Bank Super Senior Citizens: Additional 0.60% (total 7.45%)
💰 Returns on Rs 4.75 Lakh Investment
SBI 444-Day FD Returns
Principal: Rs 4,75,000
Interest Rate: 6.60% per annum
Tenure: 444 days (1.22 years)
Interest Earned: Rs 38,170
Union Bank 456-Day FD Returns
Principal: Rs 4,75,000
Interest Rate: 6.85% per annum
Tenure: 456 days (1.25 years)
Interest Earned: Rs 40,594
Difference: Union Bank's 456-day FD offers Rs 2,424 more than SBI's 444-day scheme on a Rs 4.75 lakh investment. This represents a 6.35% higher return despite the marginal difference in interest rates.
💎 Returns on Rs 6.75 Lakh Investment
SBI 444-Day FD Returns
Principal: Rs 6,75,000
Interest Rate: 6.60% per annum
Tenure: 444 days (1.22 years)
Interest Earned: Rs 54,242
Union Bank 456-Day FD Returns
Principal: Rs 6,75,000
Interest Rate: 6.85% per annum
Tenure: 456 days (1.25 years)
Interest Earned: Rs 57,746
Difference: On a Rs 6.75 lakh investment, Union Bank's scheme provides Rs 3,504 additional returns compared to SBI. This significant difference makes Union Bank the clear winner for larger investments.
🔍 Detailed Feature Analysis
Investment Limits
- SBI Amrit Vrishti: Minimum Rs 1,000, Maximum Rs 3 crore
- Union Bank 456-Day: Minimum Rs 1,000, Maximum Rs 3 crore
Premature Withdrawal
Both schemes allow premature withdrawal with penalty charges:
- SBI: 1% penalty on applicable rate for deposits above Rs 5 lakh
- Union Bank: 1% penalty on applicable rate for all deposits
Tax Implications
Interest earned from both FDs is taxable under "Income from Other Sources." TDS is applicable if interest exceeds Rs 40,000 per financial year (Rs 50,000 for senior citizens).
Pro Tip: Consider splitting your investment across different banks or FD schemes to optimize TDS and maximize returns. Check out our detailed analysis on SBI 210-day FD returns for more investment diversification strategies.
✅ Eligibility and Requirements
SBI 444-Day Amrit Vrishti FD
- Available for resident individuals and HUFs
- Single or joint account holders eligible
- Online and offline booking available
- Auto-renewal not available (special scheme)
Union Bank 456-Day FD
- Available for all categories of customers
- Individual, joint, and corporate accounts eligible
- Online and branch booking available
- Auto-renewal facility available
⚖️ Pros and Cons Comparison
SBI 444-Day FD Advantages
- Shorter tenure (444 days)
- India's largest bank with extensive branch network
- Strong brand reputation and trust
- Easy online booking through YONO app
- Better liquidity due to shorter tenure
SBI 444-Day FD Disadvantages
- Lower interest rate (6.60%)
- Special scheme with limited availability
- No auto-renewal facility
- Lower overall returns
Union Bank 456-Day FD Advantages
- Higher interest rate (6.85%)
- Better returns on all investment amounts
- Auto-renewal facility available
- Competitive senior citizen rates
- Regular offering (not limited time)
Union Bank 456-Day FD Disadvantages
- Longer tenure (456 days)
- Smaller branch network compared to SBI
- Lower brand recognition
- 12 additional days of lock-in period
🏆 Final Verdict and Recommendation
Winner: Union Bank of India 456-Day FD
For both Rs 4.75 lakh and Rs 6.75 lakh investments, Union Bank's 456-day FD emerges as the clear winner, offering superior returns despite the slightly longer tenure.
Key Takeaways
- Higher Returns: Union Bank offers Rs 2,424 more on Rs 4.75 lakh and Rs 3,504 more on Rs 6.75 lakh
- Better Rate: 6.85% vs 6.60% - a meaningful 0.25% difference
- Senior Citizens: Union Bank offers 7.35% vs SBI's 7.10%
- Flexibility: Union Bank offers auto-renewal facility
Who Should Choose SBI?
Consider SBI 444-day FD if you:
- Prefer shorter tenure (12 days less)
- Value brand reputation and extensive branch network
- Need frequent branch visits and customer service
- Are comfortable with slightly lower returns for perceived safety
Who Should Choose Union Bank?
Union Bank 456-day FD is ideal if you:
- Want to maximize returns on your investment
- Are comfortable with the additional 12-day tenure
- Prefer higher interest rates over brand name
- Want auto-renewal facility for convenience
Ready to Invest?
Before making your final decision, consider consulting with a financial advisor to understand the complete impact on your investment portfolio. Both schemes offer guaranteed returns and are backed by government insurance up to Rs 5 lakh.