Be Familiar with Tax Saving Fixed Deposits in 5 Points
Interest Rates
The interest rates on tax saving FDs are decided by the banks and it is applicable for 5 years. Most banks are offering interest in the range of 8.5 – 9 percent p.a. The rate is fixed throughout the 5 year period and cannot be changed. However, senior citizens can avail higher interest rates on tax saving FDs from banks.
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Financial Budget 2016 Speaks in Favor of Individual Taxpayers
