HDFC tax saver FD, can you share details about it. Thanks!
When I first looked for ways to save tax while keeping my money safe, HDFC Bank’s Tax Saver Fixed Deposit instantly caught my attention. It offers both steady returns and tax benefits under Section 80C of the Income Tax Act.
If you’re aiming to reduce your taxable income and earn a decent interest, this FD is worth considering.
The HDFC Tax Saver Fixed Deposit works just like a regular FD, but with a few unique features that make it ideal for long-term savings. You can invest an amount for a fixed tenure of 5 years. You’ll get the interest either monthly, quarterly, or on maturity. It will depend on your choice.
Here’s what I found most useful about this Fixed Deposit:
- Tenure: The lock-in period is fixed at 5 years, so premature withdrawal or loan against it isn’t allowed.
- Investment Amount: You can start with as little as ₹100 and invest up to ₹1.5 lakh in a financial year.
- Interest Payout: Choose between monthly, quarterly, or cumulative (reinvested) interest options.
- Eligibility: Available for individuals and Hindu Undivided Families (HUFs).
What I particularly like about this FD is its reliability. The bank’s strong reputation ensures your investment stays safe while earning competitive returns.
Plus, you can open an FD within minutes online or by visiting an HDFC branch if you’re already an HDFC customer.