Capital E-Saving Digital Accounts
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Fixed term (Lock-in-Period) of 5 years under Auto closure mode
No premature withdrawal allowed
Eligible for deduction u/s 80-C
The said deposit are not eligible for any loans.
The interest rate shall be as decided by the Head Office from time to time.
The Tax Saver FD The Tax Saver FD shall be eligible for staff benefit as per the existing staff policy.
Fixed deposit schemes falling under the ambit of Section 80 C of the Income Tax Act, 1961 are commonly known as Tax Saver Fixed Deposits. Tax Saver Fixed Deposits are at par with other tax saving investments such as Public Provident Funds (PPF), Pension plans, National Savings Certificate (NSC),Tax saving mutual funds, child education fees etc.
Tax-saving FDs are like regular fixed deposits, but come with a lock-in period of 5 years and tax break under Section 80C on investments of up to ₹1.5 lakh. It is a simple instrument to get deductions up to ₹1.5 lakh per year.
Only resident Indians are eligible to open the Tax Saver FD i.e. Resident Individuals and Hindu Undivided Families (HUF) are eligible to open the same.
The Tax Saver FD can be opened jointly, in such case first holder shall be eligible for claiming deduction under Section 80C of Income Tax Act, 1961
The Tax Saver FD can be made under U/G (under-guardianship) Accounts as well and in such case guardian shall be eligible for claiming deduction under Section 80C of Income Tax Act, 1961
PAN is mandatory for opening the Tax Saver FD
Visit your nearest branch: To begin the process, bring your KYC documents and passport-sized photographs to your nearest branch. You can fill out the application form at the branch to get started.
Customer Care: Call us at 1800 120 1600, one of our representatives will get in touch with you.
Email: Mail us as at lead@capitalbank.co.in with your Name, Contact Number, Address & Message. One of our representatives will get in touch with you.
Duly filled application form
Passport Size Photograph
Identity proof: PAN Card, Driving license, Voter’s ID card, etc.
Address proof: Aadhaar Card, Telephone Bill, Passport, etc.
Minimum amount to be invested is INR 100/-
and thereafter in multiples of INR 100/-
Maximum amount that can be invested by an Individual/HUF in a financial year cannot exceed INR 1,50,000/-
The interest rate shall be as decided by the Head Office from time to time.
The Tax Saver FD shall be eligible for staff benefit as per the existing staff policy.
The TDS provisions are applicable on the Tax Saver Fixed Deposits on similar lines with other fixed deposits.
Under Section 80C of the Income Tax Act, it is permissible to obtain a tax exemption on a Tax Saver FD.
If the interest earned from all FD accounts exceeds INR 40,000 in a financial year, the bank is obligated to deduct Tax Deducted at Source (TDS). However, for senior citizens (60 years and above), the limit is increased to INR 50,000.
Investing in FD is a secure option with assured returns, making it a favorable financial instrument. The annual interest rate of 8% is also attractive for investors.