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Fixed Deposit: Interest of up to 6.30 percent is available on FD in these banks, get more returns than ordinary FD

Fixed Deposit Interest: In today’s time, investors are not getting much returns even after making fixed deposits. With the maximum interest being available from 4.9 percent to 5 percent or 5.35 percent, then the question arises whether FDs are no longer an attractive option for investment. Here we are telling you about such banks which are also giving returns of up to 6.30 percent on Tax Saving Fixed Deposit (FD). Getting FD in such banks can prove to be more beneficial for you.

This facility is available in small private banks
Recently a report has been published on the bank market, according to which some banks are giving attractive interest of up to 6.30 percent on tax saving FD schemes. Now know which are the banks which are giving good interest on them. Their biggest condition is that it has a lock-in period of five years and cannot withdraw money before that. Therefore, it is more suitable for wealth creation rather than an option at the time of need of money.

RBL Bank
Private sector bank RBL Bank is offering 6.30 percent interest on tax saving FD which is the highest in this segment.

Yes Bank
Yes Bank is currently giving an interest of 6.25 percent on Tax Saving FDs, which can be said to be quite attractive as compared to normal FDs.

IDFC First Bank
This bank is giving interest up to 6 percent on tax saving FDs. You must have seen this bank as a sponsor in ‘Kaun Banega Crorepati’ this year and through this the process of sending money to the contestant’s account is shown.

IndusInd Bank
This bank is also giving attractive interest of 6 percent on tax saving FD. This bank also holds a good position in the private sector, so you can think of investing in it.

DCB Bank
DCB Bank is giving an interest of 5.95 percent on DCB Bank Tax Saving FD.

Axis Bank
Axis Bank is also giving a good 5.75 per cent return on tax saving FDs. You can invest in this product of Axis Bank.

Special feature of tax saving FD
As the name suggests, Tax Saving FDs can save you on tax as well as it comes under section 80C of Income Tax. Also, if you have already seen the interest received on it, then it can be a double profit deal for you.

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Shivam Bangwal

Shivam Bangwal is a young entrepreneur who is professional full time tech, travel and coding enthusiast with a post graduation degree of Master's of Computer Applications. He is a founder of Youthistaan, People News Chronicle, Branding Panther and Digital Leader.

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