Overview
Tax Saver Deposit is specifically designed to help individuals save on taxes while earning a fixed return on their investment with lock-in period for a fixed term of 05 years. It offers tax benefits under Section 80C of the Income Tax Act in India.
Features
- Tax benefits upto Rs 1.50 Lac per financial year under section 80C of the IT Act.
- Earns interest on annual basis.
- Auto renewal facility.
- Facilitates Standing Instruction with Auto debit and Closure on maturity.
Eligibility
Indian citizens (individuals, joint accounts, HUFs, and minors with a guardian).
Minimum Amount
Rs. 1000.00 with no upper limit.
Required documents
- Valid Permanent Account Number(PAN) mandatory
- Identity and Address Proof (PAN/ Aadhaar/ Passport etc. ) of individual/ proprietors/ partners as applicable.
TDS
Rate of Interest
As per term deposit table
