Tax Saving Bank Fix Deposit : Good option at present

With the beginning of the new year now most of the people has started tax planning.  It is widely expected that RBI (Reserve Bank of India) are going to rate cut in its January Monetary Policy Review. The 5 year tax saving fixed deposit is also a good option for people who want to save using the 80C section as the interest rate is already at high. Under this tax saving fix deposit there is 5 year lock in period. Banks are offering 0.50% more to senior citizen. The list of bank which is offering high interest rate on its tax saving fix deposit among other peer. Before investing in this fix deposit keep in mind the interest you earn is taxable.

Sr	Bank Name	Interest Rate
1	City Union Bank	9.50%
2	Bank of Baroda	9.0%
3	IDBI Bank	9.0%
4	Indian Overseas Bank	9.0%
5	State Bank of Travancore	9.0%
6	Vijaya Bank	9.0%
7	Bank of Maharashtra	8.75%
8	HDFC Bank	8.75%
9	Karur Vaisya Bank	8.75%
10	State Bank of India	8.75%
11	South Indian Bank	8.75%
12	Allahabad Bank	8.5%
13	Canara Bank	8.5%
14	Central Bank of India	8.5%
15	J&K Bank	8.5%
16	Punjab National Bank	8.5%
17	ICICI Bank	8.5%
18	Kotak Bank	8.5%
19	Axis Bank	8.0%

There are many more bank offering such type of fix deposit. Please check it at your end also. If you have any other query about investment and financial planning feel free to ask.

Regards,

Arvind Trivedi

Certified Financial Planner

arvind.trivedi79@gmail.com