The IDBI Subidha Tax Savings FD gives 9% to normal citizens and 9.75% senior citizens. If you are not a senior citizen and belongs to 10% tax bracket then after investing Rs 10,000 in it for 5 years you shall get pre-tax return of Rs. 15,605 and a post tax return of Rs 15028. Actual compound interest rate is (after tax) 8.23%
Dear Neeta, What’s your current Tax slab? Do you know, interest earned from Tax saver FDs is taxable? Instead of running around for just 0.1 or 0.25% higher interest on Tax Saver FDs, please open it with your existing bank to save you both, leg work as well as mental work.
The IDBI Subidha Tax Savings FD gives 9% to normal citizens and 9.75% senior citizens. If you are not a senior citizen and belongs to 10% tax bracket then after investing Rs 10,000 in it for 5 years you shall get pre-tax return of Rs. 15,605 and a post tax return of Rs 15028. Actual compound interest rate is (after tax) 8.23%
Dear Neeta, What’s your current Tax slab? Do you know, interest earned from Tax saver FDs is taxable? Instead of running around for just 0.1 or 0.25% higher interest on Tax Saver FDs, please open it with your existing bank to save you both, leg work as well as mental work.
Thanks
Ashal
As per my knowledge, its IDBI