Karnataka Bank Tax Saver Fixed Deposit (FD)
Karnataka Bank offers a Tax Saver Fixed Deposit which you can invest in and also claim tax deductions. This is under the Income Tax Act, 1961 (Section 80C). These are the main features of the Karnataka Bank Tax Saver Fixed Deposit.
Interest Rates on Karnataka Bank Tax Saver Fixed Deposit (FD)
Tenure | Interest Rate for General Public (p.a.) | Interest Rate for Senior Citizen (p.a.) |
5 years | 6.50% | 6.90% |
Features of Karnataka Bank Tax Saver Fixed Deposit
Minimum deposit amount | Rs.100 |
Minimum tenure | 5 years and 10 years |
Premature closure | No |
Nomination | Yes |
Eligibility for Karnataka Bank Tax Saver Fixed Deposit
Karnataka Bank offers the tax saver fixed deposit facility to:
- Individuals
- HUF (Hindu Undivided Family)
FAQs on Karnataka Bank Tax Saver Fixed Deposit
- Can an NRI open a tax saver deposit?
Tax Planner and KBL-Tax Planner ACC can be extended to an NRI under NRO status. This is only if you elect not to be governed by the provision of Chapter XII-A of the Income Tax Act, 1961.
- Do I have to submit my PAN card?
It is mandatory to submit your Permanent Account Number (PAN) and Aadhaar when you open a tax saver fixed deposit.
- Will I get a proof of opening a fixed deposit?
If you want a proof, you can always request the bank for a certificate.
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