Wed, Feb 28, 2024
Post Office Tax Saving FD: Post Office offers many types of fixed deposit plans under the National Savings Time Deposit Account scheme. These FDs come in 1, 2, 3, and 5 years of tenure, are not market-linked, and provide a guaranteed return. Among these, the 5-year Post Office FD is also known as a tax saving FD. While the FD falls in the Exempt-Exempt-Exempt (EEE) category, it also provides tax benefits up to Rs 1.50 lakh under Section 80C of the Income Tax Act. The 5-year FD provides a 7.5 per cent interest rate payable annually and calculated quarterly. An investment of Rs 10 lakh can give you interest of Rs 4.50 lakh in this scheme. Know how
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