INSUBCONTINENT EXCLUSIVE:
With effect from April 20, HDFC Bank revised interest rates on its tax-saving fixed deposits.
Major banks like State Bank of India (SBI), ICICI Bank, HDFC Bank
and Axis Bank offer the option of income tax-saving fixed deposits
With effect from April 20, HDFC Bank revised interest rates on its tax-saving fixed deposits
With effect from april 17, ICICI Bank revised interest rates on tax-saving fixed deposits
Tax-saving fixed deposits (FDs) help you claim income tax deduction under the Section 80C of the Income Tax Act
Fixed deposits, which help save on the income tax outgo require a lock-in period of five years
Premature withdrawals are barred from tax-saving fixed deposits.(: What Utkarsh Small Finance Bank, SBI, ICICI Bank, HDFC Bank Offer As FD
Interest Rates)The interest income earned on income-tax saving FDs is taxable as per an investor's tax bracket
Interest on income tax-saving deposits is payable on a monthly/quarterly basis
The interest amount earned can be reinvested, if the investor wants to do so
However, in case of joint deposit, the tax benefit under Section 80C will be available only to the first holder of the deposit.(: Five
Investment Schemes That Can Make You Money, Offer Security)Here are the interest rates offered on tax-saving FDs by SBI, ICICI Bank, HDFC
Bank and Axis Bank:Tax-saving fixed deposits interest rates of State Bank of India (SBI)State Bank of India's tax-saving scheme requires an
investor to deposit a minimum amount Rs
1,000 or multiples thereof
The maximum deposit should not exceed Rs
1,50,000 in a year, SBI said on its website, sbi.co.in
The minimum tenor is five years and the maximum is 10 years for the fixed deposit account
The following are the interest rates on deposits below Rs
28.02.2018Revised For Public w.e.f
28.03.2018Existing for Senior Citizens w.e.f
28.02.2018Revised for Senior Citizens w.e.f
28.03.20185 years and up to 10 years6.56.7577.25(: Fixed Deposit (FDs) Rates Of These Banks Are As High As 8.75%)Tax-saving fixed deposits
interest rates of ICICI BankICICI Bank, the largest private sector lender, said that it may allow premature withdrawal of the following
Here are the interest rates on tax-saving fixed deposits of ICICI Bank on deposits between Rs
less than ? 5 crore5 years 1 day to 7 years6.607 years 1 day to 10 years6.60(: Interest Rates On Post Office Saving Schemes Compared - PPF
Vs Recurring Deposit)Tax-saving fixed deposits interest rates of HDFC BankHDFC Bank revised interest rates on fixed deposits without a
premature withdrawal facility with effect from April 20, 2018, said the bank on its website, hdfcbank.com
The following are the interest rates on non-withdrawable domestic term or fixed deposits for amounts equal more than Rs
Every Month)Tax-saving fixed deposits interest rates of Axis BankA tax-saving fixed deposit account with Axis Bankworth less than Rs 1 crore
under income tax-saving fixed deposits.
