IndusInd Bank Tax saving FD

What is IndusInd Bank Tax saving FD

IndusInd Bank Tax Saving FD is an IndusInd Bank fixed deposit scheme that allows individuals to save taxes while earning a fixed rate of interest on their investments. The scheme has a five-year lock-in period and provides tax benefits under Section 80C of the Income Tax Act. This scheme requires a minimum investment of Rs. 100 and a maximum investment of Rs. 1.5 lakh. 

Eligibility Criteria for IndusInd Bank Tax Saving FD

• An individual must be a resident of India and have a valid Permanent Account Number to be eligible for the IndusInd Bank Tax Saving FD.
• Individuals, as well as Hindu Undivided Families are eligible for the scheme.
• The applicant must be at least 18 years old
• The applicant must have valid KYC (Know Your Customer) documents, such as an Aadhaar Card, Voter ID, Passport, or Driving License.
• Furthermore, the applicant must be willing to invest in the scheme for a minimum of five years. The maximum annual investment amount tax deductible under Section 80C of the Income Tax Act is Rs. 1.5 lakh. 

Documents Required for IndusInd Bank Tax Saving FD

A few documents are required to invest in the IndusInd Bank Tax Saving FD.

• To begin, the applicant must provide their PAN (Permanent Account Number), which is required to open a tax-saving FD account.
• They must also provide a valid KYC (Know Your Customer) document, such as an Aadhaar Card, Voter ID, Passport, or Driver’s License.
• The KYC document must be self-attested and include an applicant photograph. 

KEY ATTRACTIONS of IndusInd Bank Tax saving FD

Individuals looking to save taxes while earning a fixed interest rate will find several key benefits in the IndusInd Bank Tax Saving FD.

• To begin, the scheme has a five-year lock-in period, which ensures that the investment is secure and provides a consistent return on investment.
• Second, the scheme provides tax benefits under Income Tax Act Section 80C, which allows individuals to deduct up to Rs. 1.5 lakh from their taxable income.
• The scheme also provides flexible investment options, with an Rs. 1,000 minimum investment.
• Furthermore, the interest rate offered by IndusInd Bank Tax Saving FD is competitive and varies depending on the investment term. 

Features & Benefits of IndusInd Bank Tax Saving FD

• The scheme provides a competitive interest rate that is calculated quarterly and paid out at maturity.
• The interest earned is taxable at the applicable rate, which is determined by the investor’s tax bracket.
• Furthermore, the scheme allows for simple account opening and nomination.
• Overall, the IndusInd Bank Tax Saving FD is an excellent investment option for those looking to save taxes while earning a fixed rate of interest on their money.

How to Apply for IndusInd Bank Tax Saving FD

• Individuals can apply for an IndusInd Bank Tax Saving FD by going to their nearest IndusInd Bank branch and submitting the necessary documents along with the application form.
• The application form is available at the bank or online at the bank’s website.
• The investment can be paid by check, demand draught, or online transfer.
• Once you have invested the amount, you can check the details through the online banking system.