Tax-Saving Fixed Deposits' Interest Rates Of SBI, HDFC Bank And Others

Fixed deposits or FDs, the fixed income instruments which are highly popular among customers, are of two types: regular FDs with the facility of premature withdrawal and tax-saving FDs which do not have the facility of premature withdrawal. Fixed deposits with premature withdrawal facility, however, do not offer income tax benefits. Tax-saving fixed deposits help you save on income tax outgo. However, tax-saving fixed deposits come with a lock-in period of five or 10 years. The deadline for filing income tax returns (ITR) for assessment year 2018-19 is round the corner (July 31)..If you did not make any tax-saving investments in the last fiscal, you should make some wise choices this year to invest your money in tax-saving schemes like fixed deposits for tenures of five or 10 years. These fixed deposits also offer attractive interest rates..Consider this: a five-year tax-saving fixed deposit in State Bank of India (SBI) fetches you an interest rate of 6.75 per cent. As compared to this, a five-year fixed deposit with ICICI Bank offers an interest rate of 7 per cent..Given below are fixed deposit interest rates of 10 major banks including SBI, HDFC Bank and ICICI Bank:.(All figures in per cent) table { border-top: solid 1px #ccc; border-left: solid 1px #ccc; border-right: solid 1px #ccc; font-size: 16px; } table th { background-color: #f5f5f5; padding: 5px 10px; border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; } table td { border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; padding: 5px 10px; line-height: 18px; } table td:last-child, table th:last-child { border-right: none; } /*Media Query start*/ @media only screen and (max-width: 760px), (min-device-width: 768px) and (max-device-width: 1024px) { /* Force table to not be like tables anymore */ table, thead, tbody, th, td, tr { font-size: 14px; } } /* Smartphones (portrait and landscape) ----------- */ @media only screen and (min-device-width : 320px) and (max-device-width : 480px) { body { padding: 0; margin: 0; } table, thead, tbody, th, td, tr { font-size: 14px; } table th { padding: 4px; } table td { padding: 4px; } table th:nth-child(1), table td:nth-child(1), } } /* iPads (portrait and landscape) ----------- */ @media only screen and (min-device-width: 768px) and (max-device-width: 1024px) { body { width: 495px; } } /*Media Query END*/ . Banks 5-year 10-year SBI 6.75 6.75 HDFC Bank 6 6 ICICI Bank 7 7 PNB 6.25 6.25 Axis Bank 7% 7% Kotak Mahindra Bank 6.5 6.5 YES Bank 7.1 7.1 Bank of Baroda 6.7 6.6 IDBI Bank 6.75 6 RBL Bank 7.25 7.25 .(Fixed deposit interest rates mentioned above are for deposits below Rs 1 crore as mentioned on the banks' websites.).Fixed deposits per se are a popular savings instrument. A fixed deposit can be created easily even online. Most banks offer this facility..Post offices also offer the facility of a fixed deposit account..Small Finance banks like AU Small Finance Bank and Suryoday Bank also offer fixed deposit accounts.

Tax-Saving Fixed Deposits' Interest Rates Of SBI, HDFC Bank And Others

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