Bank Fixed Deposits with lock in period of 5 yrs have tax benefit U/S 80C .We have already discussed the tax saver deposits in details Here.
Today we have compared interest rates across various banks.
Following table shows interest rates for General public as well for Senior Citizens and maturity value of Rs 1 lakh which is the upper limit of these deposits.
Mentioned deposit rates are last updated on March 20, 2016:
Tax saver Deposits from PSU banks:
| Sr.No | Bank | General Public | Maturity Of Rs 1 lakh | Senior Citizen Rates | Maturity Of 1 lakh for sr.Citizens |
| 1. | Andhra Bank | 7.75 | 1,46,784 /- | 8.25 | 150,426/- |
| 2. | Allahabad Bank | 7.25% | 143,226 /- | 7.75% | 146,784/- |
| 3. | Bank OfBaroda | 7.30% | 143,578/- | 7.80% | 147,145/- |
| 4. | Bank OfIndia | 7.25% | 143,226/- | 7.75% | 146,784 /- |
| 5. | Bank OfMaharashtra | 7.25% | 143,226/- | 7.75% | 146,784/- |
| 6. | Canara Bank | 7.50 | 144,995 /- | 8.00 | 148,595 |
| 7. | Central Bank OfIndia | 7.50% | 144,995 /- | 8% | 148,595/- |
| 8. | Corporation Bank | 7.50% | 144,995 /- | 8% | 148,595/- |
| 9. | Dena Bank | 7.35% | 143,931/- | 7.85% | 147,506/- |
| 10. | IDBI Bank | 7.50% | 144,995/- | 8% | 148,595/- |
| 11. | Indian Bank | 7.25% | 143,226 /- | 7.75% | 146,784 /- |
| 12. | IOB | 7.25% | 143,226 /- | 7.75% | 146,784 /- |
| 13. | OBC | 7% | 141,478/- | 7.50% | 144,995/- |
| 14. | Punjab & Sindh Bank | 7.25% | 143,226 /- | 7.75% | 146,784 /- |
| 15. | PNB | 7.25% | 143,226 /- | 7.75% | 146,784 /- |
| 16. | State Bank OfIndia | 7% | 141,478/- | 7.25% | 143,226 /- |
| 17. | Syndicate Bank | 7.50% | 144,995/- | 8% | 148,595/- |
| 18. | UCO Bank | 7.25% | 143,226 /- | 7.75% | 146,784 /- |
| 19. | Union Bank | 7.50% | 144,995/- | 8% | 148,595/- |
| 20. | United Bank | 6.50% | 138,042/- | 7% | 141,478/- |
| 21. | Vijaya Bank | 7.50% | 144,995/- | 8% | 148,595 /- |
Private Banks:
| Sr.No | Bank Name | General Public | Maturity Amount Of Rs. 1 Lakh | Sr Citizen Rates | Maturity Of Rs 1 lakh |
| 1. | Axis Bank | 7.50 | 144,995 /- | 8 | 148,595 /- |
| 2. | DhanLaxmi | 7.10% | 142,175/- | 7.60% | 145,708/- |
| 3. | Federal Bank | 7.25% | 143,226/- | 7.75% | 146,784 /- |
| 4 | HDFC Bank | 7.65% | 146,066/- | 8.15% | 149,691/- |
| 5. | ICICI Bank | 7.75% | 146,784/- | 8.25% | 150,426 /- |
| 6. | IndusInd | 7.50 | 144,995/- | 8 | 148,595/- |
| 7 | Kotak Mahindra | 7.25% | 143,226 /- | 7.75% | 146,784/- |
| 8. | Karnataka Bank | 7.50% | 144,995/- | 8% | 148,595/- |
| 9 | Karur Vyasa Bank | 7.75% | 146,784/- | 8% | 148,595/- |
| 10 | LaxmiVilas Bank | 7.80 | 147,145/- | 8.30% | 150,795/- |
| 11 | Yes Bank | 7.75% | 146,784/- | 8.25% | 150,426/- |
Note:
- Interest rates are as on Oct 09 , 2012.Interest rates are always subject to change.
- Bank names are in alphabetical order.We may have missed few names.Please comment below if you found any.
- Few banks do not have a mention of Tax saver deposits for which interest rate of 5 yrs is considered.
