6th Aug 2024 Pune, Maharashtra, India Bajaj Markets has partnered with some of India’s leading banks to offer tax-saver fixed deposits (FDs). Considering it’s the start of the financial year, this partnership aims to provide investors with a seamless way to reduce their tax liability while accumulating wealth.
Under the Income Tax Act, investing in Tax Saving FDs is a smart strategy to lower one’s tax burden. These FDs offer investors the opportunity to claim deductions up to a maximum limit of Rs. 1.50 Lakhs per financial year. This is applicable under Section 80C of the Income Tax Act, 1961.
By partnering with reputable banks, Bajaj Markets ensures that investors can book a fixed deposit at competitive interest rates. Individuals can also browse a range of regular FDs issued by NBFCs, and choose from flexible tenors and interest payout options. This allows one to tailor their investments to suit their financial goals.
Browse the FD interest rates offered by the below-listed partners of Bajaj Markets:
| Bank | Non-senior Citizen Interest Rates (p.a.) | Senior Citizen Interest Rates (p.a.) |
| AU Small Finance Bank | 7.25% | 7.75% |
| Ujjivan Small Finance Bank | 7.20% | 7.70% |
| YES Bank | 7.25% | 8.00% |
Disclaimer: The above-mentioned interest rates are latest as of 11th April 2024, and subject to change at the discretion of the issuers.
Here are some key features of booking a tax-saver FD:
- Lock-in Period: Mandatory lock-in period of 5 years; premature withdrawals are not allowed
- Interest Payouts: Interest earned is compounded quarterly and is payable at maturity
- Nomination Facility: Option to nominate a person to receive the proceeds of the FD in case of the investor’s demise
- Renewal Option: Upon maturity, investors can choose to renew the FD for another term or opt for withdrawal
The investing process is simple, straightforward, and quick. To take advantage of these competitive interest rates, flexible options, and seamless application process, download the Bajaj Markets app or visit the official website.