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Tax Saving Fixed Deposit to save tax u/s 80C of Income tax Act

Tax Saving Fixed Deposit is one of the most attractive, secured, long term investment options available in India.


Tax Saving FD Features

Features of Tax Saving Fixed Deposit are:

- Income Tax exemption under Section 80C

- Interest Rate from 5-5% to 7.75%

- Lock in Period for 5 years

- Secured investment option

- Loan against FDR is available


Tax Saving FD Benefits

- More interest earning than Savings Bank Account.

- Tenure of Investment is flexible

- Rs. 1,50,000 deduction from income under section 80C of Income tax Act

- Loan can be availed against FDR in case of urgent need

- Interest on loan is lesser in comparison with other loan options




Tax implication on Tax saving FDR

- Amount invested up to Rs. 1,50,000/- can be deducted from income u/s 80C

- Interest earned on FDR is taxable

- TDS is applicable to interest on FDR


Who can Invest in Tax Saving FDR

Anyone who can kept the money for 5 years lock in period.


How to open a Tax saving FDR Account

You can open the FDR account with any bank. You will have to inform them that you want to open FDR with tax saving option.

What is Risk on Tax Saving FDR
There is no risk in Tax saving FDR. You will get the amount invested with interest on Maturity.


Limits of Tax Saving FDR

Minimum Investment is Rs. 100 and maximum is Rs. 1500000/-


Tenure of FDR

There is lock in period for 5 years. You can avail loan against FDR in case of any urgent need.


Tax Saving FDR for Senior Citizens

Tax saving FD option is available for senior citizens also. The interest rate for senior citizen is slightly higher than others.


Transfer of Tax Saving FDR

You can transfer Tax Saving FDR from one bank to another.


Nomination Facility

Nomination facility is available for Tax Saving FDR




Documents needed to open Tax Saving FD Account

Identity Proof

- Passport, PAN card, Voter ID card, Driving license, Government ID, Sr citizen ID card

Address Proof
- Passport, Telephone bill, Electricity bill, Bank Statement with Cheque etc


Disclaimer: Information given here is to guide and help those who want to know about investing in Tax Saving Fixed Deposit. We are not responsible for any mistake or error. This is a website to provide free information and we do not charge any amount from any user. Trade marks and copy rights are of respective website owners.


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