Tax Saving FD : If senior citizens are looking for a safe investment for a long time, then a 5-year tax saving FD can be useful for you. Tax exemption is available on five-year FD under section 80C. Also, the money remains safe and the returns are good. Tax exemption of up to Rs 1.50 lakh is available under 80C. Here we know the rates on five-year FD.
These banks are giving the highest interest on FDs of five years
1. HDFC Bank
Interest rate on 5 year FD: 7%
2. ICICI Bank
Interest rate on 5 year FD: 7%
3. Axis Bank
Interest rate on 5 year FD: 7%
4. Canara Bank
Interest rate on 5-year FD: 6.7%
5. Union Bank of India
Interest rate on 5-year FD: 6.7%
6. State Bank of India
Interest rate on 5 year FD: 6.5%
7. Punjab National Bank
Interest rate on 5 year FD: 6.5%
8. Bank of Baroda
Interest rate on 5 year FD: 6.5%
9. Indian Bank
Interest rate on 5 year FD: 6.25%
10. Bank of India
Interest rate on 5 year FD: 6%
