Tax saving FDs offered by banks in India are good option for someone looking to save tax under Sec 80 C without taking any risk that is inherent in equity exposure that ELSS offers. So, if you are one of those conservative investors who want to save tax via FDs , then it would be pertinent to know which banks are offering you the best deal currently.
Following are the 5 best Tax saving FDs that are being currently on offer ( as on Sept 11).
Rank Bank Rate On Int.(p.a.) Rs 10000 will grow
1. Tamilnad Mercantile Bank 10% Rs16386.
2. City Union Bank 9.75% Rs 16186
3. IDBI Bank 9.50% Rs 15991
4. Punjab And Sind Bank 9.50% Rs 15991
5. State Bank of Travancore 9.50% Rs 15991