THESE banks offer up to 6.75% interest on FDs: Details here
Zee News
Yes Bank is giving up to 6.5 percent return on tax-saving deposits. In five years, a deposit of Rs 1.5 lakh becomes Rs 2.07 lakh.
New Delhi: Tax optimization should always be part of your financial plan, not something you do at the end of the year. Consider your financial objectives while investing. Bank FDs are more appealing to those in lower tax bands. According to statistics provided by BankBazaar, small finance banks and smaller private banks are offering interest rates on tax-saving FDs of up to 6.75 percent amid dropping interest rates. The top five banks with the best interest rates on tax-saving deposits are shown below.
Section 80C of the Income Tax Act allows for tax deductions on investments up to Rs 1.5 lakh. Premature withdrawals are not permitted from tax-saving FDs, which have a five-year lock-in term.
Suryoday Small Finance Bank pays up to 6.75 percent interest on tax-saving deposits. Suryoday has the best interest rates among small financing institutions. In five years, a capital of Rs 1.5 lakh invested grows to Rs 2.10 lakh.
