Today we will tell you about some such Tax Saving Fixed Deposits (FDs), which give the highest returns and are completely safe too. These FDs have a lock-in period of at least 5 years. In this you cannot withdraw money before maturity.
In youth, a person earns money so that his old age passes well. But only earning money in youth is not enough. After that, it is necessary to put the money that you have earned on work. By putting money to work, it means investing them in such a place, from where a regular income can be made. But it is not advisable to invest money anywhere. It is right to invest money only where it is 100% safe. So today we will tell you about some such Tax Saving Fixed Deposits (FDs) which give the highest returns and are completely safe too.
Before knowing which banks give what returns on FDs, it is also important to know that what is a tax saving FD? Actually, by investing in this FD, you can save tax on investments up to Rs 1.50 under Section 80C of the Income Tax Act. Overall, a tax saving FD gives you two-sided benefits. One, you can save tax and secondly you also get a fixed return. In this, only TDS is deducted on the interest earned from FD and that too according to the income tax bracket of the investor. Almost all banks offer tax saving fixed deposits. These FDs have a lock-in period of at least 5 years. In this you cannot withdraw money before maturity. So let’s know which banks are giving the highest returns on tax saving FDs of less than Rs 2 crore.
- Suryoday Small Finance Bank: Interest rate per annum – 7.25 percent
- Ujjivan Small Finance Bank: Interest rate per annum – 7.10 percent
- DCB Bank: Interest rate per annum – 7.10 percent
- Yes bank: Interest rate per annum – 7.00 percent
- IndusInd Bank: Rate of interest per annum: 7.00 percent
- RBL Bank: Interest rate per annum – 6.80 percent
- IDFC First Bank: Interest rate per annum – 6.75 percent
- Axis Bank: Interest rate per annum – 6.50 percent
- Equitas Small Finance Bank: Interest rate per annum – 6.50 percent
