While depositing the amount you can select the maturity instructions. Alternatively, an investor can opt for a payout of interest on the maturity of the fixed deposit. HDFC Tax Saving FD Interest Rate 2023 Type of Depositor Hence, while investing in a tax saving FD an investor must consider the liquidity of this investment. The HDFC Tax Saving FD has a lock-in period unlike other fixed deposits of 5 years. Section 80C allows a tax deduction of Rs 1.5 lakhs for an investment in a tax saving fixed deposit. With an investment in an HDFC Tax Saving FD, you can save income tax under section 80C of the Income Tax Act, 1961.
HDFC Tax Saving FD is a type of fixed deposit that provides the benefits of investing in an FD along with tax saving. Who Can Invest in the HDFC Tax Saving FD?.
