Fixed deposit: Best tax-saving FD interest rates in May 2024
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What is a tax-saving FD?
Tax-saving fixed deposits (FDs) are those where you get a deduction of up to Rs 1.5 lakh under Section 80C of the Income-tax Act, 1961 for investing in the deposit. You can invest a maximum of Rs 1.5 lakh in a tax-saving FD in a year. Keep in mind that tax-saver FD has a tenure of five years.
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Top tax-saving FDs here
How much interest rate will you get if you book your tax-saving FD now? To make it easier for the investors ET Wealth Online has made a list of the best tax-saving FDs in May 2024. Find out here.
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Highest interest on tax-saving FDs
DCB Bank offers an interest of 7.4% for investing in tax-saving FDs.
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Tax-saving FD: Best interest rates here
Dhanlaxmi Bank offers an interest of 7.25% on tax-saving FDs of five years.
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How much can you earn on tax-saving FDs?
IndusInd Bank also offers an interest rate of 7.25% on tax-saving FDs.
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Want to invest in tax-saving FD? List of top tax-saving FD rates
YES Bank also offers an interest rate of 7.25% on tax-saving FDs.
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Tax-saving FDs: Best list
City Union Bank offers an interest rate of 7.1% for investing in tax-saving FDs.
Source: ET Intelligence Group
Source: ET Intelligence Group