Tax saving will have to be done in FD bank, where is the maximum interest? | Tax saving will have to be done in FD bank, where is the maximum interest?

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Fixed Deposit

New Delhi: Best FD Interest Rates: Term deposits (FDs) from banks are a popular investment option for those looking for guaranteed income only. It is also popular among those who cannot afford to take risks. But it is also not good to invest too much in FDs. You will have to decide how much you want to invest in FD by evaluating your asset allocation and objectives.
You can also invest in FDs to save on taxes. An investment of up to Rs 1.5 lakh can be claimed for tax deduction under Section 80C of the Income Tax Act. Tax savings FDs have a lock-in period of five years. This does not allow for pre-mature withdrawals, if you are thinking of investing in a tax-saving FD in the near future, find out where you can get the best interest.

State Bank of India (SBI)

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Currently, SBI’s 5-year tax savings FD offers an interest rate of 5.40 per cent. The interest rate for senior citizens is 6.20 per cent. This interest rate is applicable from January 8, 2021.

Punjab and Sindh Bank

At present, Punjab and Sind Bank offers 5.30 per cent interest on 5-year tax savings FDs. This interest rate is applicable from 16th September 2021.

Federal Bank

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At present, the Federal Bank will offer interest at the rate of 5.60 per cent on a 5-year tax savings FD. The interest rate for senior citizens is 6.25 per cent. This interest rate is applicable from 17th July 2021.

Karnataka Bank

Karnataka Bank will offer interest at the rate of 5.60 per cent on 5-year tax savings FDs. The interest rate for senior citizens is 5.90 per cent. This interest rate is applicable from 1st June 2021.

South Indian Bank

Interest on tax-saving FDs at South Indian Bank will be available at 5.65 per cent. The interest rate for senior citizens is 6.15 per cent. This interest rate is applicable from 8th October 2021.

Yes Bank

The interest on tax-saving FDs at Yes Bank will be available at 6.50 per cent. The interest rate for senior citizens is 7.25 per cent. This interest rate is applicable from 5th August 2021.

RBL Bank

RBL Bank will offer interest at the rate of 6.30 per cent on 5 years tax savings FD. The interest rate for senior citizens is 6.80 per cent. This interest rate is applicable from 1st September 2021.

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Tax saving will have to be done in FD bank, where is the maximum interest?

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