Best 80C Tax Saving Fixed Deposits for 2012 – 13

by Manshu on January 4, 2013

in Fixed Deposits

Since interest rates are fairly high these days, the 5 year tax saving fixed deposit is also a good option for people who want to save using the 80C section. (Read: Section 80C Tax Saving Infographic)

This has a lock in period of 5 years right now, and there are several banks that give you more than 9% on your deposits, and an additional 0.50% for senior citizens in most cases.

The highest rate I could find was City Union Bank which has revised their rates just two days ago, and offer 9.50% on tax saver fixed deposits.

Here is a list of the top tax saver fixed deposits that I could find. If you know of a bank that offers more than these then please leave a comment and I’ll update the table.

Bank Interest Rate
City Union Bank 9.50%
Deutsche Bank 9.50%
TamilNad Mercantile Bank 9.25%
State Bank of Travancore 9.00%
IDBI Bank 9.00%
Indian Overseas Bank 9.00%
Vijaya Bank 9.00%
Bank of Baroda 9.00%
State Bank of Hyderabad 9.00%
South Indian Bank 8.75%
SBI 8.75%
Karur Vysya Bank 8.75%
Bank of Maharashtra 8.75%
J&K Bank 8.50%
Central Bank of India 8.50%
Kotak Bank 8.50%
Canara Bank 8.50%
Punjab National Bank 8.50%
ICICI Bank 8.50%
Allahabad Bank 8.50%
Axis Bank 8.25%

Updates:

  • Added Deutsche Bank per Vimal’s comment.
  • Added TamilNad Mercantile Bank per Vijay’s comment and corrected rate for SBH per Mohan AV’s email. 

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