Senior Citizens & Tax

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Tax-Saving FDs for Senior Citizens

Tax-saving fixed deposits (FDs) popular among senior citizens in India for tax benefits and safety

Key Features

Fixed returns, 5-year lock-in period, no premature withdrawals, and tax deductions under section 80C

Higher Interest for Seniors

Banks offer elevated interest rates to senior citizens, making tax-saver FDs an attractive investment option

Tax Benefits

Investors can claim deductions up to Rs 1.5 lakh under section 80C, exclusive to tax-saving FDs, aiding tax savings

Appealing Investment

Senior citizens can invest a lump sum, earn interest, and simultaneously benefit from tax savings through tax-saver FDs