If you want to earn bumper returns along with saving tax, then now is a good opportunity for you. You can save tax and also earn good returns by investing in tax saver FD. The special thing is that by investing in tax saver FD, you get exemption under Income Tax Act. That means you will have to pay less tax than before. Apart from this, a good amount of money will also be received in the form of interest. So let us know today about those banks which are currently offering huge interest on tax saver FD.
At present, IndusInd Bank and Yes Bank are offering bumper interest rates on tax saving FD. If you invest under tax saving FD in these two banks, you can get interest up to 7.25 percent. If you make a tax saving FD of Rs 1.5 lakh now, then in five years this amount will increase to Rs 2.15 lakh.
You will get Rs 2.12 lakh
Similarly, HDFC Bank is also giving huge interest on tax saving FD. The special thing is that HDFC is the largest bank among private sector banks. It is giving 7 percent interest on tax saving FD. If you make a tax saving FD in HDFC Bank now, you will become rich after five years. If you invest Rs 1.5 lakh, you will get Rs 2.12 lakh after 5 years.
Offering up to 6.7% interest on tax saving FD
Whereas, if we talk about Union Bank of India and Canara Bank, then both these banks are also giving interest up to 6.7% on tax saving FD. However, both of these are government banks. If you make an FD of Rs 1.5 lakh for five years in these two banks, then on completion of maturity you will get Rs 2.09 lakh.
On completion of maturity you will get Rs 2.07 lakh
State Bank of India is also offering interest up to 6.5% on tax saving FD. Apart from this, Indian Bank, Punjab National Bank, IDBI Bank and Indian Overseas Bank are also offering interest at the rate of 6.5%. If you invest an amount of Rs 1.5 lakh in these banks for five years, then on completion of maturity you will get Rs 2.07 lakh.
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