80c tax saver fixed deposits interest rates comparison

Fixed Deposit Interest Rates 2012- 2013The financial year 2012-13 is going to end in few months and now this is the time to show your actual tax saving amount to Government whatever you had planned in the beginning of the year. But most of us have declared a lot but in reality most of us were not able to save up to that for income tax point of view. But you can do this now itself by doing a Fixed Deposit scheme and save your tax under section 80C. FD or Fixed Deposits are a very good financial tool to save tax as well as with a very good interest rates. It has a locking period of 5 years. Now a days banks are providing very good interest rates on FDs. Generally most of the banks offer more than 9% of interest which is really very good if you are a low risk investor.
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Compare fixed deposit interest rate in India 2012

Whatever interest you earn in these FDs, are taxable. And you will also get interest on compounded quarterly basis. At the current time the interest rates are the highest so far. You can compare what every bank is offering on FDs and then choose anyone. I found a very good comparison chart of fixed deposit interest rate 2012 which I am sharing here too.

City Union Bank                             9.50%
Deutsche Bank                            9.50%
State Bank of Travancore            9.00%
IDBI Bank                                    9.00%
Indian Overseas Bank                   9.00%
Vijaya Bank                                   9.00%
Bank of Baroda                           9.00%
State Bank of Hyderabad           8.75%
South Indian Bank                   8.75%
SBI                                                   8.75%
Karur Vysya Bank                   8.75%
Bank of Maharashtra                   8.75%
J&K Bank                                   8.50%
Central Bank of India                   8.50%
Kotak Bank                                   8.50%
Canara Bank                                   8.50%
Punjab National Bank                   8.50%
ICICI Bank                                   8.50%
Allahabad Bank                           8.50%
Axis Bank                                   8.25%

For 80C tax savings instrument you can also go for PPF (Public Provident Fund) or Tax saving mutual funds. But if you are a low risk investor and looking for a short period investment then Bank Fixed Deposits are the best in current market.
image source: investmentyogi.com

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2 Comments

  1. rupesh negi May 30, 2013
  2. S K Jain April 22, 2013

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