February 25, 2013 12:06 pm
I wish to know that which is the highest interest fetching tax saver bank FD? which bank issues it?
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.
As per my knowledge, its IDBI
Your email address will not be published. Required fields are marked *
Please subscribe me to your Email Newsletters
This site uses Akismet to reduce spam. Learn how your comment data is processed.
Download Our FREE Ebook!
Available only for first 100 people today
New here? Create an account