Fixed deposits (FDs) remain one of the safest and most popular investment options in India. With rising inflation and volatile markets, conservative investors seek predictable returns with minimal risk. This year, Indian Bank launched a special 555-day fixed deposit scheme, often referred to as “Ind Green” — giving a fresh option for savers who want better interest and decent returns without gambling in stocks or mutual funds. Policybazaar+1
In this article, we’ll explore what this 555-day FD is, how much interest it offers, compare it with other popular FD schemes like SBI’s 444-day plan, and answer common questions people ask about fixed deposits in India. Let’s jump in.
📌 What Is the Indian Bank 555-Day FD Scheme?
The Indian Bank 555-day FD scheme, also called “Ind Green,” is a special fixed deposit product designed to provide a mid-term investment option between short-term and long-term FDs. It has a fixed tenure of 555 days (approximately 1 year, 6 months, and 10 days). Policybazaar
This FD scheme is open to all resident individuals and offers guaranteed returns — meaning the interest percentage is locked in at the time of investment and won’t change for the entire duration. Policybazaar
How It Works
- Minimum Deposit: ₹1,000
- Maximum: Less than ₹3 crore (for retail customers)
- Tenure: 555 days
- Interest Payout Options: Monthly, quarterly, half-yearly, or cumulative
- Premature Withdrawal: Allowed with penalty on interest
- Nomination Facility: Yes
- Interest Rates: Varies by age group and category
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💰 What Are the Interest Rates for the 555-Day FD?
Indian Bank offers tiered interest rates on the 555-day FD depending on the depositor’s category. As of latest available rates effective August 1, 2025, the interest figures are: Policybazaar
| Category | Interest Rate (% p.a.) |
|---|---|
| General Public | 6.60% |
| Senior Citizens | 7.10% |
| Super Senior Citizens | 7.35% |
👉 Senior citizens and super senior citizens get extra interest as a bonus for age-based financial needs. Policybazaar
These rates are competitive compared to regular FDs but still lower than some other banks’ special FD schemes (which we will discuss later). The key strength of the Ind Green FD is predictable returns with government bank security.
📊 How Does This Compare to SBI’s 444-Day FD Scheme?
Now, it’s time for a friendly showdown!
SBI 444-Day FD: What You Get
State Bank of India (SBI) runs a similar special deposit called the Amrit Vrishti FD for 444 days. The interest rates as of latest updates in Dec 2025 are: SBI Bank+1
| Category | Interest Rate (% p.a.) – 444 Days |
|---|---|
| General Public | ~6.45% |
| Senior Citizens | ~6.95% |
| Super Senior Citizens | ~7.05% |
| Note: These figures can slightly shift depending on RBI and bank updates. SBI Bank |
Quick Comparison
- Indian Bank 555-Day FD: Up to 7.35% for super senior citizens
- SBI 444-Day FD: Up to 7.05% for super senior citizens
➡️ Indian Bank’s 555-day FD generally gives slightly higher interest for seniors, while SBI’s 444-day FD is shorter but still attractive. The choice depends on how long you are ready to lock your money. Policybazaar+1
📈 Why Investors Like 555-Day FDs
1. Longer Tenure = Better Returns (Usually)
An FD with a slightly longer tenure tends to offer higher interest than 1-year or standard 2-year FDs. Indian Bank’s 555-day FD delivers a balanced mix of short-to-medium-term and higher return potential. Stable Money App
2. Guaranteed Returns
Unlike the stock market, where fear and greed drive prices, fixed deposits promise a fixed interest rate from day one. That’s comforting if your idea of excitement does not include a roller coaster of stock prices.
3. Safety First
Bank FDs in India are covered up to ₹5 lakh by the Deposit Insurance and Credit Guarantee Corporation (DICGC) — adding another layer of safety for your savings. (This is a general fact on bank deposits in India.)
4. Flexible Payout Options
Whether you want monthly income for household expenses or cumulative interest at maturity, the payout flexibility helps match your goals.
🧐 Common Questions People Also Ask
What is the interest rate for FD in central bank 555 days?
Clarification: FD rates aren’t directly set by the RBI (Reserve Bank of India). Instead, commercial banks like Indian Bank or SBI decide their own FD rates based on market conditions and RBI policy changes (repo rate decisions). Indian Bank
For the specific bank schemes:
- Indian Bank 555-day FD: ~6.50%–6.60% for general public (effective rates vary slightly by date) Indian Bank
What is the SBI 444 day FD scheme?
The SBI 444-day FD is a special fixed deposit product from State Bank of India — also called the Amrit Vrishti FD scheme — offering competitive interest rates for a 444-day tenure. Policybazaar
What is 555 days fixed deposit in Indian Bank?
It is the Ind Green 555-day FD offered by Indian Bank that allows an investment for 555 days at assured interest rates with options for senior and super senior citizens to earn extra. Policybazaar
Which bank gives 9.5% interest on FD?
Currently, few mainstream public sector banks like Indian Bank or SBI do not offer rates as high as 9.5% on standard FDs (as of 2025 data). However, certain small finance banks and special callable FDs offered earlier by IDBI or others provided very high rates for specific slabs in the past. These were limited-time offers and not standard bank CDs. India Today
Always check the current bank website before booking because FD interest rates change often with market conditions and after RBI rate decisions.
🔍 Tips Before You Book Your FD
1. Know Your Goal
Are you saving for a short-term need (1–2 years) or mid-term (2–5 years)? Your target influences which FD is best.
2. Compare Multiple Banks
Don’t just stick with one bank. Compare Indian Bank, SBI, and others before locking in your money.
3. Consider Premature Withdrawal Clauses
If you might need money urgently, understand penalty rules. Some FDs are strict about early withdrawal penalties.
4. Tax Implications
Interest earned on FDs is taxable. Senior citizens also have a TDS (Tax Deducted at Source) exemption threshold, which you can manage using Forms 15G/15H (details available on bank portals). (General tax fact on FDs.)
📌 Final Thoughts
The Indian Bank 555-day FD scheme — Ind Green — is a strong choice for risk-averse investors who want higher than average fixed returns with safety and simplicity. Compared to other schemes like SBI’s 444-day FD, it offers a slightly longer duration with potentially better interest, especially for senior depositors. Policybazaar+1
But remember: no investment is perfect for everyone. Your decision should reflect your financial goals, liquidity needs, and risk comfort.
If you are seeking steady growth without market stress, Indian Bank’s 555-day FD could be just the financial buddy you were looking for.
