Tax Saver Deposit
Tax Saver
Tax saver fixed deposit (FD) is a type of fixed deposit, by investing in which, you can get tax deduction under section 80C of the Indian Income Tax Act, 1961. Any investor can claim a deduction of a maximum of Rs.1. 5 lakh by investing in tax saver fixed deposits. Please visit your nearest OGB branch for investing your money in Tax Saver Deposit.
Eligibility
Individuals
Institutions
Firms
Features & Benefits
Tax deduction up to ₹ 1.5 lakh under section 80C of the Indian Income Tax Act, 1961.
Lock-in period of 5 years.
Interest earned is taxable.
Nomination facility is available.
Not accepted as security/collateral security for granting loan facilities..