Enjoy Tax Benefits in 5 year Fixed Deposits in HDFC BANK
Enjoy Tax Benefits in 5 year Fixed Deposits in HDFC BANK.
In 2006, it was announced for the first time that Bank fixed deposits booked by an Individual/HUF for 5 years & upto Rs. 1,00,000/- will be allowed exemption under Sec 80C of the Income Tax Act,1961 subject to necessary declarations taken from the Customer.
Here is some featutes……
**Minimum Amount: Rs.100/-
**Multiples of Rs.100/-
**Maximum Amount: Rs. 1 lac (in a FY)
**Rate of Interest -6.00% p.a, Senior Citizen rate – 6.50%
**Monthly or Quarterly interest pay-out option is available.
**Tenure – 5 years (lock in period).
**No Partial/Premature withdrawal allowed.
**In the case of joint holder deposit, the deduction from income under section 80C of the Act shall be available only to the first holder of the deposit.
**Sweep-in not allowed.
**No OD or pledge allowed.