Tax Saving FD: If you have not started your tax planning yet, it is time to do it. To save tax for the financial year 2023-24, investment will have to be made by March 31, 2024. Most companies ask their employees to submit investment declaration in January-February.
Tax Saving FD: If you have not started your tax planning yet, it is time to do it. To save tax for the financial year 2023-24, investment will have to be made by March 31, 2024. Most companies ask their employees to submit investment declaration in January-February. In such a situation, you can invest in tax saving option to achieve your financial target. Here we are telling you about tax saving i.e. interest and returns on 5 year Fixed Deposit of big banks of the country.
IndusInd Bank
IndusInd Bank and Yes Bank are offering interest up to 7.25 percent on tax saving FD. These banks are offering the best interest among private banks. The amount of Rs 1.5 lakh invested here will increase to Rs 2.15 lakh in five years.
HDFC Bank
HDFC Bank, ICICI Bank and Axis Bank, which are among the big private sector banks of the country, are offering interest of up to 7 percent on tax saving FD. The amount of Rs 1.5 lakh invested here will increase to Rs 2.12 lakh in five years.
Union Bank of India
Union Bank of India and Canara Bank are offering interest up to 6.7 percent on tax saving FD. These banks, which are included in the list of public sector banks, are offering good interest on tax saving FDs. The amount of Rs 1.5 lakh invested here will increase to Rs 2.09 lakh in five years.
Federal Bank
Federal Bank is offering interest up to 6.6 percent on tax saving FD. The amount of Rs 1.5 lakh invested here will increase to Rs 2.08 lakh in five years.
State Bank of India
The country’s largest public sector banks, including State Bank of India (SBI) and Bank of Baroda (BOB), are offering interest rates of up to 6.5 percent on tax saving FDs. Banks offering interest rates up to 6.5 percent on tax saving FD include Punjab National Bank, Indian Bank, Indian Overseas Bank and IDBI Bank. The amount of Rs 1.5 lakh invested here will increase to Rs 2.07 lakh in five years.
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