![]() Consequently, purchasing post office TDS gives the investor tax savings of up to ₹1.5 lakh. However, post office term deposit of 5 years is eligible for tax deduction under Section 80C of the Income Tax Act, 1961. ![]() Investments in bank RD are not exempt from taxation under Section 80C of the Income Tax Act of 1961. Post Office RD vs SBI RD vs HDFC Bank RD: Income tax benefits Post Office offers RDs for a tenure of 5 years only.Īn SBI or HDFC Bank RD account can be opened by cheque/cash, but an RD account in a Post Office can be opened by cash only. HDFC Bank offers RD ranging from six months to 120 months (10 years). SBI recurring deposits have maturity ranging from 1 year to 10 years. ![]() Post Office RD vs SBI RD vs HDFC Bank RD: Maturity These rates are effective from January 24, 2023.ĥ-year RD rates compared: Post Office vs SBI vs HDFC Bank HDFC Bank offers an interest rate ranging from 4.50%-7% on RDs maturing in six months to ten years. ![]()
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