Federal Bank Tax Saver Fixed Deposit (FD)
Federal Bank offers a Tax Saver Fixed Deposit which you can invest in and also claim tax deductions. This is under Section 80C (Income Tax Act, 1961). Here are the main features of the Federal Bank Tax Saver Fixed Deposit.
Interest Rates on Federal Bank Tax Saver Fixed Deposit
Tenure | Interest Rate (p.a.) |
5 years | 6.60% |
Features of Federal Bank Tax Saver Fixed Deposit (FD)
Minimum deposit amount | Rs.100 |
Minimum tenure | 5 years |
Premature closure | No |
Auto renewal | No |
Transfer of deposit | Yes, from one Federal Bank branch to another |
How to Open a Federal Bank Tax Saver Fixed Deposit Online
You have to visit the bank branch to open a tax saver fixed deposit.
Eligibility for Federal Bank Tax Saver Fixed Deposit
Federal Bank offers the tax saver fixed deposit facility to:
- Individuals
- Trust
- HUF (Hindu Undivided Family)
- Partnership Firms
- Body Corporate
FAQs on Federal Bank Tax Saver Fixed Deposit
- Will my PAN be updated and linked to the fixed deposit?
Your PAN number will be updated in your bank accounts automatically.
- Is TDS applicable?
For a Federal Tax Saving Deposit, the TDS will be deducted from the interest that is credited to your account.
- Will I get a proof of investment?
You can request the bank for a certificate and it will be issued to you.
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