Tax Saving Fixed Deposit- If you want to save tax along with earning from interest, then Tax Saving Fixed Deposit is the best option.
Fixed Deposit- There are many types of fixed deposits. Lump sum amount can be deposited for 7 days to 5 years, up to 10 years. The bank pays interest on this deposit. Interest saving is much better than bank account. On maturity of the FD, the deposited amount and the interest earned on it are returned. But, the advantage of Tax Saving FD (Tax Saver Fixed Deposit) is that it gets tax exemption under Section 80C of the Income Tax Act. Let us know which bank is giving how much interest on Tax Saver FD?
Government banks how much interest?
Union Bank: Here you are getting 5.55 percent annual interest on Tax Saver FD. Senior citizens get 6.05 percent interest.
Canara Bank: Here the interest on Tax Saver FD is 5.50 per cent per annum. Senior citizens are getting 6 percent interest.
Bank of India and Punjab and Sind Bank: Tax saver FD earns 5.30 percent interest per annum. The interest rate for senior citizens is 5.80 percent.
SBI: Tax saver FD has an interest rate of 5.40 per cent per annum. Senior citizens get interest at the rate of 6.20 percent.
Where is the best return in private banks?
Yes Bank: Tax saver FD is getting 6.50 percent annual interest. Senior citizens get 7.25 percent interest.
RBL Bank and DCB Bank: Tax saver FD is getting 6.50 percent annual interest. Senior citizens get up to 7 percent interest.
IndusInd Bank: Tax saver Fixed Deposit offers 6 percent annual interest. 6.50 percent interest is being offered to senior citizens.
Tax saver FD in Karur Vysya Bank is getting 6 percent annual interest.
