new Delhi. Tax Saving Fixed Deposits are one of the most attractive investment instruments. This is a better investment tool for those investors who do not want to take risk on their earnings. Like other banks, SBI is also offering tax saving FDs for its customers.
The tax saving FD offered by the country’s largest bank has a lock-in period of five years. If the customers of the bank want to open a tax saving FD, then they can open it through the net banking facility of SBI. The special thing is that you can also take tax exemption under section 80C of income tax on investment in this.
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Know how much interest rate on FD
SBI is giving interest ranging from 5.10 per cent to 5.40 per cent on FDs with tenures ranging from one year to 10 years. Recently the bank has revised the interest rates on long term FDs. Under this, the interest rate on FDs of more than two years and less than three years has been increased from 5.10 percent to 5.20 percent. The rate has been increased from 5.30 per cent to 5.45 per cent for a period of three to five years. Similarly, SBI has also increased the interest rate on tax saving FDs from 5.40 per cent to 5.50 per cent.
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You can open tax saving FD online like this
Go to SBI website and open net banking.
Click on e-TDR/ESTDR under FD tab.
Go to Income Tax Savings Scheme and click on e-TDR / ESTDR.
Then click on the Proceed button.
After selecting the account and amount, click on the term and condition option and then click on the submit button.
Then click on confirm option.
After this, the page that will open, you will get complete information about your tax saving FD.
Tags: Fixed deposits, sbi, Tax saving options
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