Tax Saving Fixed Deposits

Everyone wants to save most of their hard-earned funds.
Thus, saving money from taxes is a priority of so many people these days.
Unlike other sources, a fixed deposit is a risk-free way to save money on taxes.
A tax saving FD helps you deposit your money for a period of up to 5 years,
and allows interest on them, which acts as revenue for the depositor.
As per Section 80 C, an investor can claim a tax benefit of up to Rs 1.5 lakhs per annum. 
Benefits of availing a Fixed Deposit :
Short tenure:
A tax saving FD is locked in for a maximum period of 5 years.
Thus, tax benefits can be enjoyed only in a short period also.
Less risk involved:
A tax saving FD is the safest deal for people who don't prefer taking risks with their funds.
There is no provision of losing one's money in this case.
Joint deposits facility:
This FD allows people to invest their funds in collaboration with a family member.
Thus, all the family's funds can be kept together safe in one place.

Benefits for senior citizens: A tax saving FD is highly beneficial for citizen citizens.
Senior citizens earn additional interest along with saving taxes.

 Thus, the benefits mentioned above state it clearly,
that a tax saving FD is the safest option.

Continue Reading : Benefits of investing in tax saving fixed deposits

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