5-year Tax Saving Fixed Deposit

Grow your wealth with our 5 year tenure, with a minimum deposit of INR 1000 to INR 1.5 Lakhs per Financial Year. Save tax along with great returns over the investment in AU Small Finance Bank’s Tax Saving Fixed Deposits. The regular Tax Saving products are available to all resident individuals, HUFs and Minors. In the case of joint deposits, the Tax benefit will be applicable to the primary or first holder of the deposit.

Tax Information

TDS will be deducted when interest payable or reinvested in Recurring Deposits and Fixed Deposits per customer, across all branches, exceed Rs.10000 in a financial year. In case of Senior Citizen, TDS will be deducted when interest payable or reinvested on Recurring Deposits and Fixed Deposits per customer, across all branches, exceeds Rs. 50,000 in a financial year. A TDS Certificate will be mailed to you after end of every quarter during the Financial Year, providing the details of TDS deducted during the quarter.

The following tax slab will be applicable for a 5 Year Tax Saving Fixed Deposit.

 

  Tax Rate Surcharge Education Cess TOTAL
Resident Individuals & HUF 10% ---- ---- 10%

A fresh Form 15G/15H is required to be submitted for each Financial Year. Form 15G/15H should be submitted at the time of creation of FD or beginning of Financial Year whichever is earlier. Further, fresh Form 15G/H needs to be submitted for all subsequent deposit(s) booked during the Financial Year. TDS is recovered on the total of interest compounded, interest paid and interest accrued at the end of Financial Year i.e. 31st March on the Fixed Deposit(s)/Recurring Deposit(s).

Eligibility

  • Resident individuals
  • Hindu Undivided Families