Under the Section 80 C RBL comes up with a particular type of Fixed Deposit “Tax Saving Fixed Deposit” that gives you the opportunity for a flexible and secured fixed deposit scheme with dual benefits of exemption along with alluring returns.
Features
Benefits | Tax Saving Fixed Deposit grants you to enjoy attractive interest rates. |
Tax Saving | One of the fundamental feature of Tax Saving Fixed Deposit scheme is that it saves tax on an amount between Rs 100 to Rs 1,50.000 in multiples of Rs 100. |
Tenure | Minimum 5 years to a maximum of 10 years. |
TDS | · Applicable as per the guidelines. · The interest rates for tax saving TDS are applicable as per the prevailing interest rates. |
Nomination Facility | Available |
Partial/Pre-mature Withdrawal | Any kinds of partial or pre-matured withdrawal are not allowed in this deposit scheme. |
Additional Factor | If you open a joint deposit account with RBL bank under this scheme then the tax benefit under 80 C will be available only to the first account holder of the deposit account. |