Tax Saving Fixed Deposits are the most attractive investment tool. This is a great investment tool for investors who do not want to risk their earnings. Like other banks, sbi is offering tax-saving FDs to its customers.
The lock-in period of tax-saving FDs offered by the country's largest bank is five years. If the bank's customers want to open a tax-saving FD, they can do so through SBI's Net banking facility. In particular, you can get a tax deduction under section 80C of the Income Tax Act.
SBI is offering interest rates ranging from 5.10 per cent to 5.40 per cent on one-year to 10-year FDs. The bank has recently made changes in interest rates on long-term FDs. Under this, interest rates on FDs of more than two years and less than three years have been reduced from 5.10 per cent to 5.20 per cent. For a period of three to five years, the rate has been reduced from 5.30 per cent to 5.45 per cent. Similarly, the sbi has reduced the interest rate on tax-saving FDs from 5.40 per cent to 5.50 per cent.
You can open Tax Savings FD online
- Go to SBI's website and open Net Banking.
- Click on E-TDR / ESTDR which can be found under the FD tab.
- Go to the Income Tax Savings Scheme options and click on the e-TDR / ESTDR icon.
- Then click on the Proceed button.
- Select the account and amount and click on the Term and Condition option and then click on the submit button.
- Then click on confirm option.
- The page that opens after this will get the complete information of your tax-saving FD.
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