TFIPOST हिन्दी
TFIPOST Global
Tfipost.com
Tfipost.com
No Result
View All Result
  • Premium
  • Politics
    • All
    • Analysis
    • Opinions
    • Trending
    why are national parks closed during monsoon?

    Why India’s National Parks Close During the Monsoon; And Which Ones Stay Open

    Saquib Nachan, Alleged ISIS India Chief, Dies After Brain Haemorrhage in Delhi Hospital

    Saquib Nachan, ISIS India Chief, Dies After Brain Haemorrhage in Delhi Hospital

    VP Dhankhar Questions Emergency-Era additions to Constitution

    VP Dhankhar Questions Emergency-Era Additions “socialist” and “secular” to Preamble, Calls Them a Wound

    Prada acknowledges India's traditional intellectual property

    Prada Responds to Controversy Over Kolhapuri Chappals, Acknowledges Indian Footwear Inspiration

    • Analysis
    • Opinions
    • Trending
  • Economy
    • All
    • Business
    • Economy1
    • Finance
    CDPLC gives MDL a strategic foothold in the Indian Ocean Region

    India’s Strategic Victory : Mazagon Docks acquires majority stake in Sri Lankan Dockyard

    China's Fertiliser Export Halt to India Raises Strategic Red Flags

    China’s Fertiliser Export Halt to India Raises Strategic Red Flags, Prompts Swift Response

    India’s Economic Engine Accelerates

    India’s Economic Engine Accelerates: S&P Projects 6.5% GDP Growth for FY26

    US-Iran Tensions Shake Global Markets

    US-Iran Tensions Shake Global Markets; Oil Prices Surge and Safe-Haven Assets Rise

    • Business
    • Finance
  • Defense
    • All
    • Defence
    • Strategy
    • Weaponry
    F-35 jet stranded in Kerala

    Grounded British F-35B to Be Shifted to Kerala Hangar for Repairs, UK Confirms

    Indian Navy Was Ready to Strike: A Catastrophic Blow Pakistan Barely Escaped

    Op Sindoor: Indian Navy Was Ready to Strike – A Catastrophic Blow Pakistan Barely Escaped

    UK’s F-35 Jet Grounded in Kerala for 10 Days Over Engineering Glitch

    UK’s F-35 Jet Grounded in Kerala for 10 Days Over Engineering Glitch, No Takeoff in Sight

    CQB carbine

    DRDO and Indian Army Unveil Indigenous CQB Carbine for Urban Warfare

    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • All
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
    How Modi Government Protected India’s Chabahar Investment During Iran-Israel Conflict

    India Did What Others Couldn’t: How Modi Govt Kept Chabahar Port Safe Amid Iran-Israel War

    CDPLC gives MDL a strategic foothold in the Indian Ocean Region

    India’s Strategic Victory : Mazagon Docks acquires majority stake in Sri Lankan Dockyard

    durga temple demolished in bangladesh

    Durga Idol Crushed in Dhaka Demolition; India Condemns Bangladesh’s Assault on Hindu Sentiment

    PM Narendra Modia

    PM Modi Heads to Brazil for BRICS Summit as Putin, Xi Skip Key Global Meet

    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • All
    • Culture
    • Education
    • History
    • Indology
    jagannath yatra 2025 begins

    Jagannath Rath Yatra Begins, Millions Join Sacred Procession in Puri

    indian culture as world civilisation

    The Indian Roots of World Civilizations

    death anniversary of shyama prasad mukherjee

    From Sacrifice to Sovereignty: How Modi’s India Is Realizing Shyama Prasad Mukherjee’s Vision

    Rohith Vemula Bill Sparks Outrage Over Flawed Premise and Vote-Bank Politics

    Karnataka’s Rohith Vemula Bill Sparks Outrage Over Flawed Premise and Vote-Bank Politics

    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • All
    • Books
    • Cinema
    • Entertainment
    • Food
    • Games
    • Health
    • Lifestyle
    • Satire
    • Sports
    • technology
    • Travel
    South Indian cuisine is a celebration of flavour,

    South India’s Guilt-Free Delights: 5 Low-Calorie Snacks That Taste Like Pure Joy

    check how old your aircraft is

    Curious About Your Aircraft’s Age? Here’s How to Find Out in Under a Minute

    brain health boosting exercises

    10 Fun Brain Exercises to Keep Your Mind Sharp and Delay Cognitive Decline

    A Deep Look into Mucormycosis and Throat Cancer

    A Deep Look into Mucormycosis and Throat Cancer

    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
Tfipost.com
  • Premium
  • Politics
    • All
    • Analysis
    • Opinions
    • Trending
    why are national parks closed during monsoon?

    Why India’s National Parks Close During the Monsoon; And Which Ones Stay Open

    Saquib Nachan, Alleged ISIS India Chief, Dies After Brain Haemorrhage in Delhi Hospital

    Saquib Nachan, ISIS India Chief, Dies After Brain Haemorrhage in Delhi Hospital

    VP Dhankhar Questions Emergency-Era additions to Constitution

    VP Dhankhar Questions Emergency-Era Additions “socialist” and “secular” to Preamble, Calls Them a Wound

    Prada acknowledges India's traditional intellectual property

    Prada Responds to Controversy Over Kolhapuri Chappals, Acknowledges Indian Footwear Inspiration

    • Analysis
    • Opinions
    • Trending
  • Economy
    • All
    • Business
    • Economy1
    • Finance
    CDPLC gives MDL a strategic foothold in the Indian Ocean Region

    India’s Strategic Victory : Mazagon Docks acquires majority stake in Sri Lankan Dockyard

    China's Fertiliser Export Halt to India Raises Strategic Red Flags

    China’s Fertiliser Export Halt to India Raises Strategic Red Flags, Prompts Swift Response

    India’s Economic Engine Accelerates

    India’s Economic Engine Accelerates: S&P Projects 6.5% GDP Growth for FY26

    US-Iran Tensions Shake Global Markets

    US-Iran Tensions Shake Global Markets; Oil Prices Surge and Safe-Haven Assets Rise

    • Business
    • Finance
  • Defense
    • All
    • Defence
    • Strategy
    • Weaponry
    F-35 jet stranded in Kerala

    Grounded British F-35B to Be Shifted to Kerala Hangar for Repairs, UK Confirms

    Indian Navy Was Ready to Strike: A Catastrophic Blow Pakistan Barely Escaped

    Op Sindoor: Indian Navy Was Ready to Strike – A Catastrophic Blow Pakistan Barely Escaped

    UK’s F-35 Jet Grounded in Kerala for 10 Days Over Engineering Glitch

    UK’s F-35 Jet Grounded in Kerala for 10 Days Over Engineering Glitch, No Takeoff in Sight

    CQB carbine

    DRDO and Indian Army Unveil Indigenous CQB Carbine for Urban Warfare

    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • All
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
    How Modi Government Protected India’s Chabahar Investment During Iran-Israel Conflict

    India Did What Others Couldn’t: How Modi Govt Kept Chabahar Port Safe Amid Iran-Israel War

    CDPLC gives MDL a strategic foothold in the Indian Ocean Region

    India’s Strategic Victory : Mazagon Docks acquires majority stake in Sri Lankan Dockyard

    durga temple demolished in bangladesh

    Durga Idol Crushed in Dhaka Demolition; India Condemns Bangladesh’s Assault on Hindu Sentiment

    PM Narendra Modia

    PM Modi Heads to Brazil for BRICS Summit as Putin, Xi Skip Key Global Meet

    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • All
    • Culture
    • Education
    • History
    • Indology
    jagannath yatra 2025 begins

    Jagannath Rath Yatra Begins, Millions Join Sacred Procession in Puri

    indian culture as world civilisation

    The Indian Roots of World Civilizations

    death anniversary of shyama prasad mukherjee

    From Sacrifice to Sovereignty: How Modi’s India Is Realizing Shyama Prasad Mukherjee’s Vision

    Rohith Vemula Bill Sparks Outrage Over Flawed Premise and Vote-Bank Politics

    Karnataka’s Rohith Vemula Bill Sparks Outrage Over Flawed Premise and Vote-Bank Politics

    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • All
    • Books
    • Cinema
    • Entertainment
    • Food
    • Games
    • Health
    • Lifestyle
    • Satire
    • Sports
    • technology
    • Travel
    South Indian cuisine is a celebration of flavour,

    South India’s Guilt-Free Delights: 5 Low-Calorie Snacks That Taste Like Pure Joy

    check how old your aircraft is

    Curious About Your Aircraft’s Age? Here’s How to Find Out in Under a Minute

    brain health boosting exercises

    10 Fun Brain Exercises to Keep Your Mind Sharp and Delay Cognitive Decline

    A Deep Look into Mucormycosis and Throat Cancer

    A Deep Look into Mucormycosis and Throat Cancer

    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
No Result
View All Result
Tfipost.com
Tfipost.com
No Result
View All Result
  • Premium
  • Politics
  • Economy
  • Defense
  • Geopolitics
  • Knowledge
  • Law
  • Lounge
MASHABLE IS A GLOBAL, MULTI-PLATFORM MEDIA AND ENTERTAINMENT COMPANY FOR MORE QUERIES AND NEWS CONTACT US ON THIS EMAIL: INFO@MASHABLEPARTNERS.COM

What is Tax Savings FD? How Much Can You Save?

Vishakha Srivastava by Vishakha Srivastava
1 July 2024
in Finance
What is Tax Savings FD? How Much Can You Save?
Share on FacebookShare on X

To secure your financial future, investing wisely is important. Among the variety of investment options available, Tax Savings Fixed Deposits (FDs) stand out for their double benefits, providing a safe investment avenue and offering tax benefits. This blog will explore the concept of Tax Savings FDs, their benefits, and how much you can save by investing in  Tax Savings Fixed Deposits.

What is Tax Savings Fixed Deposit?

A Tax Savings FD is a special type of fixed deposit primarily aimed at helping individuals save on taxes under Section 80C of the Income Tax Act, 1961. The principal amount invested in Tax Savings FDs qualifies for tax deduction under section 80C of the Income Tax Act in India.

RelatedPosts

What is the ideal tenure for a home loan?

How to Build a Winning Budget with Expert Accounting Techniques

How to Check if You Are Choosing the Correct Health Insurance Cover

Load More

While the interest earned on these FDs is taxable, the tax deduction on the invested amount helps reduce the investor’s overall tax liability. This makes Tax Savings FDs an attractive option for conservative investors seeking tax efficiency and stable returns.

Features and Benefits of Tax Saving FDs

Tax Savings Fixed Deposits (FDs) come up as a reliable investment, offering a blend of stability, returns, and tax advantages. Below are the key features and benefits of Tax Savings FDs:

  1. Double Advantage: By investing in a Tax Saver FD, you not only earn attractive FD interest rates but also enjoy tax savings. This unique combination gives you the opportunity to grow your investment while simultaneously reducing your tax burden.
  2. Accessible Entry Point: With a starting amount as low as Rs 10,000 for major banks such as ICICI Bank, Tax Saver FDs offer accessibility to a wide range of investors, ensuring that financial planning is within reach for many.
  3. Tax Deductions: Investors can benefit from tax deductions of up to Rs. 1,50,000 under Section 80C of the Income Tax Act. With this, they can invest in a Tax Saver FD, helping lower their taxable income and providing substantial savings.
  4. Flexible Interest Payouts: Tailoring your investment to suit your financial goals is made easy with flexible interest payout options. Whether you prefer monthly, quarterly, or reinvestment options, Tax Saver FDs allow you to align your earnings with your specific needs and objectives.
  5. Maximised Savings: By optimising your savings through Tax Saver Fixed Deposits, you can potentially save up to Rs. 46,800 in taxes, further enhancing the overall benefits of this investment avenue.

Documents Required to Apply for a Tax Savings FD

When applying for a Tax Saver FD, ensure you have the following documents on hand:

Proof of Identity and Address (OVD)

When applying for various financial services or official procedures, it’s essential to provide valid proof of identity. Accepted documents typically include a passport, driving licence issued by the Regional Transport Authority, voter ID, job card issued by NREGA and signed by a State Government Officer, a letter from the National Population Register, or proof of possession of a complete Aadhaar number. Notably, it’s crucial to remember that a PAN Card issued in India is no longer considered valid proof of identity.

Communication Address Proof

If your primary address proof doesn’t include your communication address, these documents can be submitted:

  • Utility Bill (electricity, telephone, post-paid mobile phone, piped gas, water bill), not older than 2 months.
  • Property Tax Bill or Municipal Tax receipt, not older than one year.
  • Letter of Allotment for accommodation from the employer issued by the State Government or Central Government Departments, statutory or regulatory bodies, public sector undertakings, scheduled commercial banks, financial institutions, and listed companies.
  • Leave and Licence agreement with any of the above employers. The agreement is to contain the customer’s name as the employee.
  • Pension or family pension payment orders issued to retired employees by government departments or public sector undertakings, if they contain the address.

These documents are essential to meet regulatory standards and ensure a hassle-free processing of your Tax Saver FD application.

Key Points to remember before investing in a Tax Saving Fixed Deposit

Here’s a list of key points to remember before investing in a Tax Saving FD:

  • Lock-in Period: Tax Saver FDs typically come with a mandatory 5-year lock-in period. Ensure you are comfortable with this duration before investing.
  • Minimum Investment: The minimum investment required is Rs. 10,000, and the maximum is Rs. 1,50,000 for a tenure of 5 years. Make sure you can commit to this investment amount.
  • Nomination: You can nominate a single nominee for your account proceeds. Familiarise yourself with the nomination process as per the Banking Companies (Nomination Rules), 1985.
  • Premature Withdrawal: There’s no provision for premature withdrawal or auto-renewal. Once invested, your funds are locked in for the entire duration.
  • Tax Implications: While the investment itself qualifies for tax deduction under Section 80C of the Income Tax Act, the interest earned is taxable. Be aware of the tax implications on both the investment and the returns.
  • Lump Sum Deposit: Tax Saver FDs allow only a one-time lump sum deposit. Ensure you have the required funds available for investment.
  • Understand Terms & Conditions: Take the time to read and understand all terms and conditions associated with the Tax Saver FD, including any fees or penalties applicable in case of non-compliance.
  • Seek Professional Advice: If you’re unsure about any aspect of investing in a Tax Saving FD, consider seeking advice from a financial advisor or tax consultant to ensure it aligns with your overall financial plan.

Conclusion

Tax Saving FDs are one of the strong, compelling avenues for individuals looking to optimise their tax savings while ensuring stable returns. With a mix of attractive interest rates, tax deductions under Section 80C, and a minimum investment requirement as low as Rs. 10,000, Tax Saver FDs provide accessibility and convenience to a wide range of investors.

However, it’s crucial to consider the lock-in period, tax implications, and other terms and conditions before making an investment decision. By understanding these key points and seeking professional advice if needed, investors can use the potential of Tax-Saving FDs to grow their finances effectively.

Tags: Financial PlanningInvestment OptionsTax Savings Fixed Deposits
ShareTweetSend
Previous Post

What will change for you with the implementation of 3 new criminal laws in India?

Next Post

The Future of Hindus Depends on Today’s Actions

Related Posts

What Is a Demat Account? Use It With an Online SIP Calculator to Maximize Returns
Finance

What Is a Demat Account? Use It With an Online SIP Calculator to Maximize Returns

22 June 2025

Most people in India are now seeking intelligent means of investing their money. Perhaps the most common and reliable...

How a Compound Interest Calculator Can Boost Your Returns in India?
Finance

How a Compound Interest Calculator Can Boost Your Returns in India?

8 June 2025

A compound interest calculator helps Indian investors see how their money grows over time by calculating interest on both...

Crisil Forecasts Another Rate Cut in FY26, Pegs India’s GDP Growth at 6.5%
Economy

Crisil Forecasts Another Rate Cut in FY26, Pegs India’s GDP Growth at 6.5%

7 June 2025

The Reserve Bank of India (RBI) is expected to cut the repo rate one more time during the ongoing...

Load More

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms of use and Privacy Policy.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Currently Playing

The gulf crossroads: usa stakes, China's money and Iran's nuclear threat.

The gulf crossroads: usa stakes, China's money and Iran's nuclear threat.

00:30:34

HOW NDA IS MAKING IN- ROADS INTO TAMIL NADU?

00:05:57

the ganga treaty is about to expire. What happens next?

00:06:54

India's Rise: Defense and Diplomacy in 2047 Vision

00:22:51

1975 emergency: India's 21 month dictatorship.

00:10:29
Facebook Twitter Instagram Youtube
tfipostTfipost.com
Right Wing | News Analysis | Indian Opinion
  • About us
  • Careers
  • Brand Partnerships
  • Terms of use
  • Privacy Policy
  • Sitemap

©2025 TFI Media Private Limited

No Result
View All Result
  • Premium
  • Politics
    • Analysis
    • Opinions
    • Trending
  • Economy
    • Business
    • Finance
  • Defense
    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
TFIPOST हिन्दी
TFIPOST Global

©2025 TFI Media Private Limited