Know More About Tax Saver Fixed Deposit
With Tax Saver Fixed Deposit, enjoy a deduction of up to ₹1.5 lakh under Section 80C of the Income Tax Act. Returns are fixed for the term of the Fixed Deposit, and they come with a lock-in period of 5 years. So, smartly grow your money and save on taxes.
More Reasons To Choose Tax Saver Fixed Deposits
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Open an FD in a few easy clicks
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Flexible Payout Option
Pick Monthly, Quarterly or Cumulative payout
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Eligibility And Documents
Who can apply?
For Regular Tax Saver FD: Resident individuals, Hindu Undivided Family
For Senior Citizen Tax Saver FD: Resident individuals of age 60 & above
What are the documents required?
Maximise Your Returns With The Right Choice
Choose your preferred tenure
Interest rate (p.a)
General
7.90%
Sr.Citizen
8.05%
Book An FD in 4 steps
Start with your mobile number
Enter KYC details
Complete payment
Receive the FD Advice
Terms and conditions
- The annualized yield is the effective annual rate of return taking into account the effect of compounding interest.
- Interest rates are subject to change from time to time. Applicable interest rates will be given as on the date / time of receipt of the funds by the bank.
- A Valid PAN is mandatory for opening a Tax Saver Fixed Deposit (Tax Saver FD). Effective 1st July’17, Aadhaar card has been made mandatory for regular account opening.
- Only Individuals and HUFs are eligible to open a Tax Saver FD.
- Tax Saver FD can be opened for a minimum of ₹1,000 and (thereafter in multiples of ₹100), up to a maximum of ₹1,50,000.
- Premature withdrawal is not permitted in Tax Saver FD.
- Tax Saver FD cannot be auto renewed.
- Tax saver FD is opened for a fixed tenure of 5 years only.
- Tax saver FD can be of the following Deposit types: Cumulative Deposit, Traditional (Non-Cumulative), Monthly Interest Payout, Quarterly Interest Payout
- For Cumulative FD, interest shall be compounded and credited on maturity to the Principal Amount & for Traditional (Non-Cumulative) FD, interest shall be credited monthly/quarterly to the Savings Account.
- No loans or liens against Tax Saver shall be permitted.
- Additional rate of interest for Senior Citizens shall be issued if option for "Senior Citizen" is selected by the customer and age of customer is 60 years or above, on the date of creating the fixed deposit, as per date of birth recorded with the Bank. If a new customer, then we may have to obtain the age proof also as a part of KYC.
- Tax at Source shall be deducted according to Income Tax Regulations prevalent from time to time.
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Frequently Asked Questions
What is minimum and maximum booking amount?
What is maximum lock in period?
What are payout options available?
Who can tax benefit in case of joint deposit?
Any other important details?
Is nomination facility available?
Any other important details?
What are the applicable Terms and Conditions for premature withdrawal of Fixed Deposit?
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Domestic Fixed Deposits
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8.25%* p.a.
Flexible tenure
minimum 7 days
Minimum amount
₹1,000
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Apply for Savings / Current Account | Book Fixed Deposit (for New Customers) | Book Fixed Deposit (for Existing Customers) | Apply for Loan | Apply for Vehicle Loan
Please notify any unauthorized transaction on 1800 266 7711 or email at smile@suryodaybank.com immediately. Do not share OTP, PIN or any other sensitive banking details.
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