Karur Vysya Bank offers a range of unique products that are designed to aid people save tax by following the rules laid down the government. By availing any of these products the customers of the bank can legally save a considerable amount of tax.
Saving tax becomes excruciatingly important for people within the taxable brackets, during the end of the fiscal year. It becomes a necessity to save that money because, in the end, it is the taxpayer who has earned the money and what is paid as tax may be saved to protect their future. Several banks take the advantage of the situation to have tax saving products among their regular product line.
When it comes to saving tax,Karur Vysya Bank is no exception, providing their consumers with fantastic tax saving opportunities in the form of their financial products. In recent times, this bank has picked up in the financial industry with products that are worth investing in and also helps save tax. It is essential to understand that these products are not meant to help save tax to a certain extent and not completely. It is necessary to pay a certain amount of tax to be able to sustain the country, because you need to pay something, to expect development around you. However, it should burn a hole in your pocket, which tax generally tends to do. Our Income Tax department was established with sections under the Income Tax Act that do allow to invest in products which helps tax. Here, are some of the leading ones from Karur Vysya Bank.
The Section 80C under the Income Tax Act, allows provisions for a taxpayer save Rs. 1.5 lakhs a year. Here are some the products from Karur Vysya Bank:
KVB's Tax Shield Scheme is a fixed deposit scheme under the bank that qualifies for tax saving opportunity under Section 80C where you can deposit with both cumulative and non-cumulative calculations. The scheme tenure is fixed at 5 years which is reasonable time for tax saving opportunity.
This is mainly utilized by health insurance products for saving tax and Karur Vysya Bank has certain arrangement for the same with Bajaj Allianz for the following products:
Credit Card:
Credit Score:
Personal Loan:
Home Loan:
Fixed Deposit:
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