Indian Income Tax saving Bank Deposit Rate: An I T Saving Bet

Bank	Duration	Rate(%)	Investment(Rs.)	Maturity(Rs.)
Tamilnad Mercantile Bank Limited	Tax Saving Deposits	10.00	100000	161051
Karnataka Bank	KBL - Tax Planner	9.50	100000	157423
City Union Bank	Tax Saver Scheme	9.50	100000	157423
IDBI Bank	Suvidha Tax Saving Fixed Deposit (5 Years)	9.50	100000	157423
Union Bank of India	Union Tax Saver	9.40	100000	156706
State Bank of Bikaner and Jaipur	SBBJ TAX SAVER TERM DEPOSIT SCHEME	9.30	100000	155991
State Bank of Hyderabad	Tax Saver 5 YEARS to less than 8 years	9.25	100000	155634
State Bank of Hyderabad	Tax Saver 8 YEARS and upto 10 years	9.25	100000	155634
Corporation Bank	Corp Tax Saver	9.25	100000	155634
Punjab and Sind Bank	PSB Tax Saver 5 years	9.05	100000	154215
The Jammu and Kashmir Bank Limited	Tax Saver Term Deposit Scheme	9.00	100000	153862
The Lakshmi Vilas Bank	Lakshmi Tax Saver Deposits	9.00	100000	153862
The Karur Vysya Bank Limited	For KVB to Tax Shield Deposits	9.00	100000	153862
TNSC Bank	Tax Benefit Deposits	9.00	100000	153862
Andhra Bank	AB Tax Saver	9.00	100000	153862
Indian Overseas Bank	IOB tax saver	9.00	100000	153862
Bank of Maharashtra	Tax Saving Scheme	9.00	100000	153862
ING Vysya Bank	Ing Tax Saver	9.00	100000	153862
Indian Bank	Ind Tax Saver	9.00	100000	153862
ICICI Bank	Tax Saver FD 80C (5 year) &ndash Upto Rs. 1 lac	8.75	100000	152105
IndusInd Bank	Indus Tax Saver Scheme - 5 years	8.75	100000	152105
Dena Bank	Dena Maha Tax Bachat Yojana	8.75	100000	152105
Allahabad Bank	Allahabad Bank Tax Benefit Term Deposit Scheme	8.50	100000	150365
Axis Bank	Tax Saver Fixed Deposit	8.25	100000	148641
Citi Bank	5 years	8.00	100000	146932

As can be seen from the table above, you can potentially earn Rs. 14118 more (the difference in maturity value for bank offering highest vs lowest interest rate). This table shows the best fixed deposit (Best FD)at the top.
While the Above Interest rates are Best of the Knowledge, Investors are advised to Get better information from the concerned Banks/Branches.


The basis of Advisory is that Indian Banks are backed by the Indian Government and the Capital Risk i.e. risk to capital is Zero.


The Banks where ones saving bank account is kept and have large CASA i.e. Current Accounts and Saving Banks account are more Liquid. The recent Stress Tests under taken by the RBI show