HDFC Five Year Tax Saving Fixed Deposit – Get a combination of two benefits – saving tax while earning interest.
- Save tax under section 80c of the Income Tax Act
- Invest a minimum of ₹ 100 upto ₹ 1.5 lakhs in a financial year
- Enjoy quarterly or monthly interest pay outs
Under this scheme of Deposit an individual’s interest is calculated on a quarterly basis. According to Income Tax Regulation which is accepted from time to time Tax at Source shall be deducted.
Features
| Minimum Deposit | Rs 100 and in multiples of Rs 100 |
| Maximum Deposit | Rs 1.5 lacs |
| Tenure | 5 years |
| Eligibility | · Resident Individual
· Hindu Undivided Family |
| TDS | When the amount exceeds Rs 10,000 in a financial year TDS will be deducted for the interest that is payable or reinvested on Recurring Deposit and Fixed Deposit per customer across all branches of HDFC bank. |
| Free from Paying Tax | If you are released from the burden of paying tax, you are responsible to present Form 15G/H when you open your Fixed Deposit and at the beginning of each financial year afterwards. |
