Do this work by tomorrow, there will be tax saving along with guaranteed returns.

Under Section 80C of the Income Tax Act, tax exemption can be taken on investments up to Rs 1.5 lakh in fixed deposits (FD).

Under Section 80C of the Income Tax Act, tax exemption can be taken on investments up to Rs 1.5 lakh in fixed deposits (FD).

Senior citizens are getting the benefit of 7% interest rate by investing in bank FD. There is also tax exemption and guaranteed returns.

new Delhi. There is a chance to invest till March 31 to get tax exemption for Finance 2020-21. That is, if you invest by tomorrow, March 31, you can save tax. If you want Secured and Guaranteed Return, then the option of Fixed Deposit can also be tried. Especially Senior Citizens are getting the benefit of seven percent interest rate in this.
Under Section 80C of the Income Tax Act, tax exemption can be taken on investments up to Rs 1.5 lakh in fixed deposits (FD). The 5-year FD of any bank is called Tax Saving FD. All banks provide tax saving FD facility. Senior citizens also get higher interest than others on tax saving FD. Today, we will give you special things related to it and which bank is paying so much interest on it.
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Senior citizens are getting the highest interest rate of 7.50 percent in Yes Bank Bank interest rate
This bank 7.50

RRL Bank 7.10
INISIND BANK 7.00
Post Office 6.70
ICICI 6.30
HDFC 6.25
SBI 6.20
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Interest rate for common people
Bank interest rate
This bank 6.75
Post Office 6.70
RRL Bank 6.60
INISIND BANK 6.50
ICICI 5.50
HDFC 5.50
SBI 5.40
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Income tax section 80C is special for tax saving
Section 80C of the Income Tax Act mentions those investment channels in which investment tax income tax exemption can be claimed. Many people start investing to save tax before the end of the financial year.
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Interest is available on monthly / quarterly basis in tax saving FD
Only individuals and Hindu undivided families are exempted from investing in tax-saving fixed deposits. These deposits should be made for at least five years. Loans on premature withdrawals and fixed deposits are not available. Interest is available on monthly / quarterly basis which can be reinvested again.




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