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. Further, only Indian resident individual and HUFs are eligible for this type of deposit where tax exemptions on these deposits can be claimed under Section 80C of the Income Tax Act, 1961. Interest payment is monthly, quarterly or at maturity.

Apply online

Features
Interest Rate
Benefits
Eligibility
Fees and Charges
FAQs

Income Tax exemption under 80C of Income Tax Act, 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.

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

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

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

*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 Hence, it cannot be prematurely withdrawn.

Features
1. Income Tax exemption under 80C of Income Tax Act, 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.
Interest Rate

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

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.