Tax-Saving Fixed Deposits: Features, Benefits and More



Quick Summary
Tax-saving fixed deposits offer a secure way to save money while reducing your tax liability. Under Section 80C of the Income Tax Act, you can claim deductions of up to ₹1.5 Lakhs. These FDs come with a fixed five-year lock-in period and provide guaranteed returns, making them a low-risk investment compared to market-linked options. They are accessible to most individuals, including senior citizens who may receive higher interest rates, and can be opened online or in-branch.

Fixed deposits have been a popular savings option among Indians for decades, thanks to its guaranteed returns and safety factor. Banks offer a 5-year fixed deposit scheme that is specifically meant for tax-saving. Section 80C of the Income Tax Act, 1961, allows you to claim income tax deductions up
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1 Year PLAN
1999
(Excl. of GST ₹359)

BEST VALUE
2 Years PLAN
3499
(Excl. of GST ₹629)

3 Months PLAN
999
(Excl. of GST ₹179)

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