Do i have to go to my base branch of the bank to get receipt of 5 years fixed deposit tax saving ?

POSTED BY xtremeinfo ON April 21, 2014 2:12 pm ONE COMMENT

Hi

I am planning to do 5 years fd online via onlineSBI for a sum of 20000,But its mentioned i have to get receipt at the branch,I have opened account in another city,do i have to go that place to get my receipt? or its available at any branch??

Please suggest if this option is good or are there any other better options for tax saving with guaranteed returns of 8.5%

PS : Its for my bro,I am asking on behalf of him.

Thanks

One reply on this article “Do i have to go to my base branch of the bank to get receipt of 5 years fixed deposit tax saving ?”

  1. Hemanth Chandra says:

    I think you can get the receipt only @ base branch as SBI is a PSU.

    Tax Saving Mutual Funds (ELSS) is a good alternative for tax saving purpose. Also, the lock in period is just 3 years, less compared to 5year lock in period of tax saving FD.

    Check the below link for the ELSS funds.

    http://www.valueresearchonline.com/funds/fundSelector/default.asp?exc=susp%2Cdir%2Cclose&cat=18

    Regards,
    Hemanth.

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