SBI Increased Interest Rates: The country’s largest public sector bank SBI has given a great gift to its customers. SBI Bank has increased the interest rate on tax saving fixed deposits.
Along with the interest rate, there are many other benefits in this FD. Tax saving Fixed Deposit is one of the most reliable investment avenues. This is a better investment for those investors who want to earn profit at zero risk. Like other banks, SBI is also offering tax saving FDs for its customers.
FD interest rates
SBI has changed interest rates on FDs after a long time. Interest will be available from 5.10 percent to 5.40 percent on FDs with tenures ranging from 1 year to 10 years. Under this, the interest rate on FDs of more than 2 years and less than 3 years will be increased from 5.10 percent to 5.20 percent. The rate has been increased from 5.30 per cent to 5.45 per cent for a period of three to five years. In this way, the CBI has also increased the interest rate on tax saving FDs from 5.40 percent to 5.50 percent.
Tax Rebate
The tax saving FD that SBI is offering has a lock-in period of 5 years. If you also want to open tax saving FD, then you can open it on the basis of net banking facility of SBI. In this, tax exemption is being given under section 80C of Income Tax.
How to open tax saving FD
To open Tax Saving FD, first of all go to SBI website and open net banking. After opening net banking, now click on e-TDR/ ESTDR under FD tab. Now go to Income Tax Savings Scheme and click on e-TDR / ESTDR. Now you click on the Proceed button. Select the account and amount and click on the term and condition option. And then click on submit button. Now click on confirm option. Now a pay will open in front of you on which you will get all the information.
