4 Things To Know About Tax-Saving Fixed Deposits

Outlook Money

What Are Tax-Saving Fixed Deposits?

Tax-saving fixed deposits are a type of fixed deposits on which tax deduction can be claimed on the investment made.

Tax Saver

Tax Planning

Investing in tax-saving FDs is a good option to save tax. They offer a higher deposit rate than ordinary savings account and also allow for tax deduction benefits.

Tax Planning

Maturity Period

Tax-saving FDs come with a maturity period of five years. 


How To Invest In A Tax-Saving FD

Individuals and Hindu Undivided Families (HUFs) can open a tax-saving FD at any private or public sector bank. Even post office time deposits of 5 years qualify as tax-saving FDs.

Compiled by Syed Muskan


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