Tax Saver Fixed Deposit

Tax Saver Fixed Deposit is a one-time investment plan, by investing in which, you can get tax deduction under section 80C of the Indian Income Tax Act, 1961.

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Interest Rate
Features
Benefits
Eligibility
Documents Required
Fees and Charges
FAQs

For Interest rate on Tax Saver Fixed Deposit, Please click here

Income Tax exemption under 80C of Income Tax at 1961.
In case of joint deposits, the Tax benefit under 80C will be available only to the first holder of the deposit.
Premature withdrawal, Partial Withdrawal and Loan & Overdraft facility against Fixed Deposit facility is not available.

Customer will claim the benefit through the Fixed Deposit Advice issued by the bank.
Enjoy additional returns for senior citizen (Refer the interest rate card)
Interest Payment Options available- quarterly, monthly pay-outs (At discounted rate) and At maturity
Fast and hassle-free process that can be accessed from anywhere.
Nomination facility available

You are eligible for a Tax Saver Fixed Deposit Account if you belong to any one of the following categories.

Individual Resident of India
Hindu Undivided Families

The following are the documents you would need in order to open a Fixed Deposit Account at Utkarsh Small Finance Bank. If you don’t have the mentioned documents, please visit your nearest Utkarsh Small Finance Bank Branch.

Individuals:

One latest passport size photograph.
PAN/Form 60
Any one of the following documents:
1. Aadhaar
2. Passport
3. Driving Licence
4. Voter’s identity card issued by the Election Commission of India
5. Job Card issued by NREGA (duly signed by an officer of the State Govt.)
6. Letter issued by National Population Register

Hindu Undivided Family (HUF):

Letter of HUF duly signed by Karta and all Co-Parceners
PAN or GIR number or completed Form 60
Names of Karta and Co-Parceners with residential address
Individual KYC documents of authorised signatories (As applicable to individuals mentioned above).

Particulars	Charges
Minimum Investment Amount	Rs. 1000.00
Maximum Investment Amount	Rs.1,50,000.00*
Tenure	5 Years Lock-in Period
Premature Withdrawal Facility	Not Available
Penalty for Non Payment of Instalment	Not Applicable

*Or as notified by Government from time to time.

How do I apply for a Tax Saver Fixed Deposit Account?

Visit your nearest Utkarsh Small Finance Bank branch to apply for a Tax Saver Fixed Deposit.

What is the eligibility criterion?

You are eligible if you belong to any one of the following categories below:

Individual Resident of India
Hindu Undivided Families

What is the minimum amount I need to invest?

You need to invest a minimum amount of Rs. 1,000 in your Tax Saver Fixed Deposit.

What is the maximum amount I can invest?

You can invest a maximum amount of Rs. 1,50,000 in your Tax Saver Fixed Deposit.

Does Callable facility is available for Tax Saver Fixed Deposit?

Tax Saver Fixed Deposit will be booked as Non-Callable deposit. Hence, it cannot be prematurely withdrawn.

Interest Rate

For Interest rate on Tax Saver Fixed Deposit, Please click here
Features
1. Income Tax exemption under 80C of Income Tax at 1961.
2. In case of joint deposits, the Tax benefit under 80C will be available only to the first holder of the deposit.
3. Premature withdrawal, Partial Withdrawal and Loan & Overdraft facility against Fixed Deposit facility is not available.
Benefits
1. Customer will claim the benefit through the Fixed Deposit Advice issued by the bank.
2. Enjoy additional returns for senior citizen (Refer the interest rate card)
3. Interest Payment Options available- quarterly, monthly pay-outs (At discounted rate) and At maturity
4. Fast and hassle-free process that can be accessed from anywhere.
5. Nomination facility available
Eligibility
You are eligible for a Tax Saver Fixed Deposit Account if you belong to any one of the following categories.

Individual Resident of India

Hindu Undivided Families
Documents Required
The following are the documents you would need in order to open a Fixed Deposit Account at Utkarsh Small Finance Bank. If you don’t have the mentioned documents, please visit your nearest Utkarsh Small Finance Bank Branch.
Individuals:

One latest passport size photograph.

PAN/Form 60

Any one of the following documents:

Aadhaar

Passport

Driving Licence

Voter’s identity card issued by the Election Commission of India

Job Card issued by NREGA (duly signed by an officer of the State Govt.)

Letter issued by National Population Register

Hindu Undivided Family (HUF):

Letter of HUF duly signed by Karta and all Co-Parceners

PAN or GIR number or completed Form 60

Names of Karta and Co-Parceners with residential address

Individual KYC documents of authorised signatories (As applicable to individuals mentioned above).

Fees and Charges

FAQs
How do I apply for a Tax Saver Fixed Deposit Account?

Visit your nearest Utkarsh Small Finance Bank branch to apply for a Tax Saver Fixed Deposit.

What is the eligibility criterion?
You are eligible if you belong to any one of the following categories below:

Individual Resident of India

Hindu Undivided Families
What is the minimum amount I need to invest?

You need to invest a minimum amount of Rs. 1,000 in your Tax Saver Fixed Deposit.

What is the maximum amount I can invest?

You can invest a maximum amount of Rs. 1,50,000 in your Tax Saver Fixed Deposit.

Does Callable facility is available for Tax Saver Fixed Deposit?

Tax Saver Fixed Deposit will be booked as Non-Callable deposit. Hence, it cannot be prematurely withdrawn.