Post Office Schemes: If you are going to invest for tax saving, then instead of fixed deposit, you can deposit in these post office schemes.
NSC vs Tax Saving Fixed Deposit: Many investment options have opened up for common people to senior citizens. For some time, due to the increase in rates, there has been a change in the schemes of the post office from Fixed Deposit. Recently, the central government had increased the interest of small savings schemes. Tax saving schemes are also included in these schemes. On the other hand, due to the increase in the interest of fixed deposits, senior citizens are getting more interest.
If you are planning to invest in schemes to save tax, then we are going to tell you about some such post office schemes, which are giving more interest than tax saving fixed deposits. These schemes include options like National Savings Scheme and Time Deposit.
How much interest is being paid by these post office schemes
The central government had increased the interest rate of the National Savings Certificate Scheme by 70 basis points for the April to June quarter. At the same time, during the last quarter, the interest of NSC was 7 percent and now it has increased to 7.7 percent. At the same time, the interest of time deposit has also increased, which has increased to 7.5 percent. Apart from this, the interest of the rest of the small savings schemes has been increased.
Which bank is giving how much interest on FD
Major banks of the country are giving maximum interest on tax saving FD. HDFC Bank 7% interest, Axis Bank 7%, Bank of Baroda 6.5%, Central Bank 6.7%, ICICI Bank 7%, IndusInd Bank 7.25%, DCB Bank 7.6%, Yes Bank 7% and IDFC Bank also 7%. are giving. All these interests are being given for equal tenure.
How much tax will be saved
If you deposit money in NSC and you have opted for old tax regime, then you can save tax of Rs 1.5 lakh annually under 80C. On the other hand, you can also save tax up to Rs 1.5 lakh annually under tax saving FD.
