Good news for SBI to HDFC customers, investors are getting highest interest and tax benefits.

New Delhi Tax Saving FD Interest: If you pay income tax then this news may be special for you. You can reduce taxable income by investing in different sections of income tax under the old tax regime.

Up to Rs 1.5 lakh can be invested under Income Tax Section 80C. There are two months left in this financial year. At this time, if you do not invest keeping your income tax planning in mind, then you will have to pay more income tax.

There will be huge savings by investing here

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Most employers have asked their employees to submit investment certificates. In such a situation, you can also save tax through PPF, NPS, SSY, ELSS, PF by keeping in mind the investment options.

To avoid any kind of risk, investors can invest in tax saving FD. The interest rate available on this is lower than other FDs. Let us know about it in detail.

Up to 7 percent interest is available in these banks

Axis Bank, HDFC Bank and ICICI Bank are offering up to 7 percent interest on tax saving FDs. These banks give the best interest rates among private banks. If you invest Rs 1.5 lakh here, it will increase to Rs 2.12 lakh in 5 years.

Canara Bank is offering interest at the rate of 6.7 percent on tax saving FD. This bank is giving the best interest among public sector banks. If you invest Rs 1.5 lakh here, it will increase to Rs 2.09 lakh in 5 years.

SBI is giving 6.5 percent interest

The largest public sector banks SBI and Bank of Baroda are offering 6.5 percent interest on tax saving FD scheme. PNB and Union Bank of India are also among the banks offering interest at this rate. By investing Rs 1.5 lakh here, you will get an amount of Rs 2.07 lakh on maturity in 5 years. Indian Bank is offering 6.25 percent interest on tax saving FD. Here an investment of Rs 1.5 lakh will increase to Rs 2.05 lakh in 5 years.

Bank of India is offering interest at the rate of 6 percent on Tax Saving FG. If you invest Rs 1.5 lakh here, this money will increase to Rs 2.02 lakh in 5 years. With the help of RBI, the company gives investment guarantee on FD up to Rs 5 lakh.

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