Fix Deposit Interest Rate Comparison – 2013

fix deposit

Fix deposits being one of the safest investment options many opts or same, but sometimes wonders how to find out which bank pays highest rate of interest on fix deposit.

If you are one among this you are at right place we are herewith comparison table of fixed deposit interest rates for all popular banks India.

fix deposit

These interest rates has updated on 5th July, 2013.

In fix deposit you have two different choice normal fix deposit (Taxable) and tax saving fix deposit.

Taxable Fix Deposit:-

By default income accrued as interest on bank deposits is considered as taxable income & this interest earned is taxed as per the tax slab rates of the individual. For example, consider an individual who accrues an interest of INR 15,000 in a financial year. If the individual is in 20% tax bracket, 20% of INR 15,000 is charged and a 3% cess is charged on it. Generally the tax is deducted at the source. You can avoid tax on fix deposit by submitting Form 15G or Form 15H.

Tax Saving Fix Deposit:-

If your Income tax 80 C tax savings limit are not yet exhausted you can invest in tax saving fix deposit, remember tax saving deposit offer higher return but it is like locking money for longer period for fix return.

Article by Raviraj

Raviraj is the man behind moneyexcel.com. He is graduate in finance, engaged in blogging since 6 years. Moneyexcel blog is ranked as one of the Top 10 Personal Finance Blog in India. He is not affiliated with any financial product, service provider, agent or broker. The purpose of this blog is to spread financial awareness and help people in achieving excellence for money. Please note that the views expressed on this Blog/Comments are clarifications meant for reference and guidance of the readers to explore further on the topics. These should not be construed as investment advice or legal opinion.

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