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Investing early in life is always a good idea, and so is tax-planning.
Tax saving Fixed Deposits are nothing but fixed-income instruments which allow tax deduction. By investing in such deposits, you can claim deduction under section 80C of the Income Tax Act, 2025.
You can claim a maximum deduction of Rupees 1.5 lakhs from total gross income by investing in such deposits.
All banks offer Fixed Deposits that save tax. However, interest rates vary from one bank to another. Investors should compare interest rates offered across various banks and apply taking into consideration overall safety, returns and the services provided by the bank.
Hence, investing in tax saving fixed deposits can be beneficial to those looking for guaranteed returns with low risk and tax benefits.
To know how Tax Saver Mutual Funds stack against Tax Saver Deposits click here.
DBS Bank offers Mutual Funds that are instant, paperless, signatureless – even transaction fee-less! What’s more? You get to choose from 250+ Mutual Funds across 15 top-performing asset management companies. So why wait? Login to digibank (app or internet banking) and start investing in a flash with instant Mutual Funds on DBS Bank.
Read up more on Mutual Funds here
Mutual Fund investments are subject to market risks, read all scheme related documents carefully before investing.
