Bank tax saver fixed deposit is a special category of bank fixed deposits wherein an investor can claim a tax rebate under section 80C of the Indian Income Tax Act, 1961, if he/she invests in it. Such deposits are offered for a lock-in period of 5 years and allows the investor to claim a tax deduction of maximum of Rs.1,50,000 by investing in it.
In order to get income tax rebate and save tax on total income, you can invest in the instruments who are eligible for getting income tax rebate under section 80C of Income Tax Act. In this way, you can get tax rebate maximum upto Rs 1.5 lakh. Such instruments include PPF, PF, Life Insurance Premium, Tuition Fees, Repayment of principal of home loan, etc. Tax Saving Fixed Deposits is also one of the most popular ways to save taxes u/s 80C of Income Tax Act.
This is a special type of fixed deposits under which the investor gets the benefit of a tax relief if he/she invests an amount in it. Maximum tax benefit is limited to an investment of Rs 1.5 lakh. Moreoevr, there is a lock-in period of 5 years in such a deposit.
Following assesses are eligible to open Tax Saving Fixed Deposit account:
|Allahabad Bank||Allahabad Up Gramin Bank||Andhra Bank||Andhra Pradesh Grameena Vikas Bank||Andhra Pragathi Grameena Bank||Arunachal Pradesh Rural Bank||Assam Gramin Vikash Bank||Axis Bank||Bandhan Bank||Bangiya Gramin Vikash Bank||Bank Of Baroda||Bank Of India||Bank Of Maharashtra||Baroda Gujarat Gramin Bank||Baroda Rajasthan Kshetriya Gramin Bank||Baroda Up Gramin Bank||Bihar Gramin Bank||Canara Bank||Catholic Syrian Bank||Central Bank Of India||Central Madhya Pradesh Gramin Bank||Chaitanya Godavari Grameena Bank||Chhattisgarh Rajya Gramin Bank||City Union Bank||Corporation Bank||Dcb Bank||Dena Bank||Dena Gujarat Gramin Bank||Dhanalakshmi Bank||Ellaquai Dehati Bank||Federal Bank||Gramin Bank Of Aryavart||Hdfc Bank||Himachal Pradesh Gramin Bank||Icici Bank||Idbi Bank||Idfc First Bank||Indian Bank||Indian Overseas Bank||Indusind Bank||Jammu And Kashmir Bank||Jammu And Kashmir Grameen Bank||Jharkhand Gramin Bank||Karnataka Bank||Karnataka Vikas Grameena Bank||Karur Vysya Bank||Kashi Gomti Samyut Gramin Bank||Kaveri Grameena Bank||Kerala Gramin Bank||Kotak Mahindra Bank||Langpi Dehangi Rural Bank||Laxmi Vilas Bank||Madhya Bihar Gramin Bank||Madhyanchal Gramin Bank||Maharashtra Gramin Bank||Malwa Gramin Bank||Manipur Rural Bank||Meghalaya Rural Bank||Mizoram Rural Bank||Nagaland Rural Bank||Narmada Jhabua Gramin Bank||Odisha Gramya Bank||Oriental Bank Of Commerce||Pallavan Grama Bank||Pandyan Grama Bank||Paschim Banga Gramin Bank||Pragathi Krishna Gramin Bank||Prathama Bank||Puduvai Bharathiar Grama Bank||Punjab And Sind Bank||Punjab Gramin Bank||Punjab National Bank||Purvanchal Gramin Bank||Rajasthan Marudhara Gramin Bank||Saptagiri Grameena Bank||Sarva Haryana Gramin Bank||Sarva Up Gramin Bank||Saurashtra Gramin Bank||South Indian Bank||State Bank Of India||Sutlej Kshetriya Gramin Bank||Syndicate Bank||Tamilnad Mercantile Bank||Telangana Grameena Bank||The Nainital Bank||Tripura Gramin Bank||Uco Bank||Union Bank Of India||United Bank Of India||Utkal Grameen Bank||Uttar Banga Kshetriya Gramin Bank||Uttar Bihar Gramin Bank||Uttarakhand Gramin Bank||Vananchal Gramin Bank||Vidharbha Konkan Gramin Bank||Vijaya Bank||Yes Bank|