Tax saving scheme for 2016-13

The Tax Saving Scheme by the State Bank of India has been designed to help individuals and HUFs save money on tax and derive effective yields. It can either be a single account or a joint account, and customers must be Indian residents to gain eligibility to apply for the same.

To avail the tax saving scheme, the State Bank of India has laid down some criteria that applicants must match. For instance, you must be residing in India and can be either an individual, or a Karta of a Hindu Undivided Family. All applicants are required to have a PAN Permanent Account Number for income tax purposes.

The minimum amount of money that can be deposited is Rs. The maximum amount of money that can be deposited must not exceed Rs. As applicable to term deposits, with the lowest being 5. Senior citizens get an extra 0. The minimum tenor for this scheme is 5 years and the maximum tenor is 10 years. Premature withdrawal is now allowed before the expiry of five years since the date on which the scheme was issued. Not available The term deposit or standard term deposit cannot be pledged as security to avail the loan.

Only one person can be nominated by an individual, but joint accounts can nominate more than one person with common consent. Customers are not allowed to withdraw funds before at least five years have passed since the date on which the scheme was issued. Customers are allowed to make one nomination if they are registered as individuals.

However, the number of nominations can increase to two if it is opened as a joint account, provided that there is common consent from all the members. The Tax Saving Scheme from the State Bank of India has a minimum term of five years and a maximum tenor of ten years. All applicants, whether individuals or Kartas of Hindu Undivided Families are expected to have their PAN Permanent Account Number.

SBI Tax Saving Scheme | SBI Tax Saver Scheme

Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Returning you to where you were It will grow in a Fixed Deposit! Sign in with Facebook Recommended for the best experience. Home Fixed Deposit SBI Tax Saving Scheme SBI Tax Saving Scheme. Response Time Within 30 minutes.

SHRIRAM TRANSPORT FINANCE CO. SHRIRAM CITY UNION FINANCE CO. SBI Tax Saving Scheme is Rated as "Excellent! Eligibility Criteria To avail the tax saving scheme, the State Bank of India has laid down some criteria that applicants must match.

Period The minimum tenor for this scheme is 5 years and the maximum tenor is 10 years. TDS Tax benefits provided under section 80C of Income Tax Act, Loan against the scheme Not available The term deposit or standard term deposit cannot be pledged as security to avail the loan Nomination if any Available.

SBI Tax Saving Scheme Interest Rates Following are the interest rates applicable to customers who deposit amounts up to Rs. Tenors Existing rate for Public Revised for Public w.

Can I withdraw money from the scheme prematurely? Can I take out a loan against the scheme? The scheme cannot be pledged as security to avail any kind of loan. Can I make nominations to the scheme? What is the tenor of the scheme? Is there any requisite for those who wish to apply for the scheme? Other Fixed Deposit Schemes Offered by SBI SBI MOD Annuity Deposit Scheme SBI Reinvestment Plan Loan against Fixed Deposit SBI.

Special FD Schemes Senior Citizen Fixed Deposit Fixed Deposit Schemes for Children Co-operative Bank Fixed Deposits Flexi Fixed Deposit Fixed Deposit Double Scheme Post Office Special FD Schemes Sneha Bandhan Yojana Monthly Income Scheme.

FD interest rates Fixed Deposit. FD Rates by Other Institutions. FD Rate by Top Provider.

RBL Fixed Deposit Rates State Bank of India Fixed Deposit Rates Indian Post Office Fixed Deposit Rates HDFC Bank Fixed Deposit Rates Punjab National Bank Fixed Deposit Rates Bank of India Fixed Deposit Rates ICICI Bank Fixed Deposit Rates Axis Bank Fixed Deposit Rates Canara Bank Fixed Deposit Rates Bank of Baroda Fixed Deposit Rates Indian Bank Fixed Deposit Rates Union Bank of India Fixed Deposit Rates IOB Fixed Deposit Rates Bandhan Bank Fixed Deposit Rates Central Bank of India Fixed Deposit Rates.

Fixed Deposit Rates by Banks. Fixed Deposit Rates HSBC Bank Fixed Deposit Rates IDBI Bank Fixed Deposit Rates IndusInd Bank Fixed Deposit Rates Jammu And Kashmir Bank Fixed Deposit Rates Karnataka Bank Fixed Deposit Rates Karur Vysya Bank Fixed Deposit Rates Kores India Limited Fixed Deposit Rates Kotak Mahindra Bank Fixed Deposit Rates KTDFC Fixed Deposit Rates Lakshmi Vilas Bank Fixed Deposit Rates Nainital Bank Fixed Deposit Rates Oriental Bank of Commerce Fixed Deposit Rates Punjab And Sind Bank Fixed Deposit Rates Royal Bank of Scotland Fixed Deposit Rates Saraswat Bank Fixed Deposit Rates South Indian Bank Fixed Deposit Rates SRS Limited Fixed Deposit Rates Standard Chartered Bank Fixed Deposit Rates State Bank of Bikaner and Jaipur Fixed Deposit Rates State Bank of Hyderabad Fixed Deposit Rates State Bank of Mysore Fixed Deposit Rates State Bank of Patiala Fixed Deposit Rates State Bank of Travancore Fixed Deposit Rates Syndicate Bank Fixed Deposit Rates Talbros Automotive Components Ltd.

Fixed Deposit Rates Tamilnad Mercantile Bank Fixed Deposit Rates UCO Bank Fixed Deposit Rates United Bank australian usd exchange rate India Fixed Deposit Rates Vijaya Bank Fixed Deposit Rates Best currency exchange rates in san diego Bank Fixed Deposit Rates.

Tools Fixed Deposit Calculator Compound Interest Calculator IFSC Code Finder Recurring Deposit Calculator Compound Interest Formula. SBI Tax Saving Scheme Reviews 4. When I wanted to open a fixed deposit account at State Bank of India. I did not have to visit the bank. I opened the account online and though the rate of interest is not that appealing.

I am happy with top stock markets capitalization overall experience and process and the convenient carry trade forex que es process.

Was this review helpful? Yes 8 Thank buy skinny water stock news for your vote Thanks, strategy binary options touch no touch already rated this review. SHAKTI PADA PAULguwahati Reviewed on May 31, Scala implementing binary tree end nodes using option has been two years when I opened fixed deposit with State bank of India.

The period is for five years. Since I completed two years, three years to go. Actually SBI is located near to my house so I feel more comfortable in visiting the bank at any instance. All the staffs are very friendly and very cooperative.

Yes 5 Thank you for your vote Thanks, you've already rated this review. RAM BABUvisakhapatnam Reviewed on May 25, Compared to other banks SBI offering good interest rate on fixed deposit, they offered me 7. I have the amount of Rs.

After the maturity period I got the amount around 2. I am very much fine with that. Yes 4 Thank you for your vote Thanks, you've already rated this review. VIKRAM CHARY NASARAMhyderabad Reviewed on May 24, At other private bank a fixed deposit could be opened online and a customer does not have to visit the bank. In my case I had to visit State bank of India to open a fixed deposit and it has a lot of process involved.

Like wise to close the same it is the same scenario. RANJAN KUMARpune Reviewed on May 10, I am having fixed deposit account with the State bank of Stock scans for swing trading and the interest rate is around 6. I have opened this account through online, so it got happened very immediately. Charges are nil with them remek trading systems I can get the money withdrawal in fraction of seconds.

ANANDAN KALIMUTHUpondicherry Reviewed on May 09, Long back I had Fixed deposit account with State bank of India. I selected the tenure period for six years. The bank had fixed a good rate of interest. At last I received the money with the promised interest amount.

I am much satisfied with SBI for the FD service. DUMPALA SRINIVAShyderabad Reviewed on May 09, Even I have fixed deposit with State making money off scrap metal of India. The tenure period is one year. I deposit certain amount with them as their interest rate is good and incomparable. SBI gives good response to the people and they are very supportive as well.

I have no issues with SBI. Yes 0 Thank you for your vote Thanks, you've already rated this review. I had invested in fixed deposit with the State bank of India and the interest rate is very less like its around 7.

Services provided by them is really not good and I would like to suggest that they need to provide the customer service in a much better way. Yes 3 Thank you for your vote Thanks, you've already rated this review. In terms of interest rate and everything State Bank of India is fine to have the fixed deposit and the service aspects are working fine with them.

Which tax-saving investment best suits your needs? Find out

I am having this account from the last six to seven years of time and the response is always very good with the Does td ameritrade charge for penny stocks Bank of India. Yes 2 Thank you for your vote Thanks, you've already rated this review. I was studying college, I have opened Options trading vs forex deposit in SBI, it is located in my college campus.

I have submitted pan card, address proof, id proof to them and I have tax saving scheme for 2016-13 the amount of Rs. Yes 24 Thank you for your vote Thanks, you've already rated this review.

AKSHAY KUMARchandigarh Reviewed on Mar 30, SBI deposits are better all I am in need of is savings therefore I had opted for it but the charges are very high. I had taken it for 11 months fixed deposit. I am supposed to get 55k however I had got only 50k however they had deducted money for charges and the remaining as credit.

Yes 16 Thank you for your vote Thanks, you've already rated this review. JEEVA NANTHAMcoimbatore Reviewed on Feb 04, SBI fixed deposit is fine, the rate of interest is too low I dont invest in SBI Fixed Deposit. I had opted for this FD through the branch. Yes 18 Tax saving scheme for 2016-13 you for your vote Thanks, you've already rated this review.

I did not understand only how to apply and due to that I applied through my Wife's account in IDBI. IDBI has very easy and understandable method for the same. Yes 10 Thank you for your vote Thanks, you've already rated this review. Aniket Patelmumbai Reviewed on Dec 29, The prime reason for selecting SBI for the Fixed Deposit is the rate of interest which is 7. I am holding this FD for a period of 4 to 5 years of time. No drawback nor challenges as such. This FD was opened at the Branch.

Yes 14 Thank you for your vote Thanks, you've already rated this review. VINOD KUMAR RAIkolkata Reviewed on Dec 08, Rate of interest offered by SBI fixed deposit is very much satisfactory. Their staffs are very much cooperative. I hold a savings account with the said bank based on which they had offered this FD.

Interest rate offered by them was 9. Yes 23 Thank you for your vote Thanks, you've already rated this review. SREENU BHUKYAguntur Reviewed on Nov 29, SBI fixed deposit is wonderful this was taken before 2 years.

The total term of FD is 5 years. I do get some tax benefit too. I had filled the form by visiting the Branch and I had provided the FD receipt too. The best I like about SBI is it is very much secured.

KIRAN MAHARANAbangalore Reviewed on Nov 14, I had parked my funds on my SBI FD and I had signed up for this FD online myself. I am holding this FD account for the past 10 years. There is no drawback nor any challenges as such. It takes hardly 2 minutes to open this FD.

Online I can view and change my maturity instructions. As of now its auto renewal I can also change the maturity instructions online myself. TARUN TIWARInoida Reviewed on Nov 03, Interest that I earn on my SBI FD is awesome. I am not getting any prefential interest for my profile though I am a defense person The bank is next to my locality that is the benefit.

I had been to the branch for opening this account I had produced a cheque for opening this FD. On the same lines, I guess they require a SBI account for opening FD with the said bank.

Yes 13 Thank you for your vote Thanks, you've already rated this review. PANKAJ KUMARchandigarh Reviewed on Sep 07, My FD with SBI is opened and closed online, it took hardly 5 minutes for me to open the fixed deposit. I had closed it online myself and the money was credited to my account in a day's time and that is the best part about it. Also, I was able to do auto renewal as there is an option available online, also there was an option to add nominee too.

Yes 15 Thank you for your vote Thanks, you've already rated this review. SUMESH GOPALAN NAIRpune Reviewed on Aug 26, I hold a fixed deposit with State bank of India. It has been a very easy process to open this account. There are no charges taken. The bank is just meters away from the place I work and I have a friend of mine working over there. He clarifies my doubts immediately. Yes 9 Thank you for your vote Thanks, you've already rated this review. GOPALA KRISHNAN A K Nnew delhi Reviewed on Jul 30, Please provide some details to get the best offers.

We'll process your application faster too! Gain an edge by connecting with us via email. We promise never to spam you. Are you sure this email ID is Correct? We'll ensure you're the very first to know the moment rates change.

We'll email you immediately! You snooze, you lose. Aadhar Atal Pension Yojana Auto Insurance Bank of India Fixed Deposit Rates Car Insurance Car Loan Car Prices in India Compound Interest Calculator Credit Card Debit Card Driving Licence EPF Education Loan Effects of CRISIL Rate on FD Equifax Fixed Deposit Fixed Deposit Sitemap Free Credit Score Gas Connection Gold Rate Today HDFC Fixed Deposit Rates Health Insurance Home Insurance Home Loan ICICI Fixed Deposit Rates ICICI IFSC Code IOB Fixed Deposit Rates Income Tax Insurance Kisan Vikas Patra LIC Housing Fixed Deposit Rates Life Insurance Loan MCLR Mediclaim Policy Mutual Funds NPS NRE, NRO Fixed Deposit NRI Fixed Deposit NSC Online Gas Booking PAN PNB Fixed Deposit Rates PNB HFL FD Rates PPF Passport Personal Loan Personal Loan against FD Post Office Fixed Deposit Rates Pradhan Mantri Awas Yojana Property Tax RBL Bank FD Rates Recurring Deposit SBI Fixed Deposit Rates Savings Account Senior Citizen FD Senior Citizen Saving Scheme Silver Price Sukanya Samriddhi Yojana TDS Term Deposit Term Insurance Top Banks FD in Two Wheeler Insurance Two Wheeler Loan Used Car Loan VAT VISA VPF Voter ID.

CIBIL Tax Bank IFSC Code EMI Calculator Saving Schemes Singapore Malaysia Philippines UAE Mexico. Subscribe to our newsletter. About Careers Contact Us Blog Terms. Revised rate for Senior Citizens w.