5 Best Tax Saving Fixed Deposits For Tax Savers

Tax saving investments under section 80C includes PPF, EPF, LIC premium, Equity-linked saving scheme (ELSS), home loan principal amount payment, Sukanya Samriddhi Yojana (SSY), National saving certificate (NSC), National Pension System (NPS), Senior citizen savings scheme (SCSS), ULIP, tax saving FD for 5 years. But among all the tax saving options, post office small savings schemes and 5-year bank fixed deposits are the most secure investments to bet. As a result, amid the low-interest rates regime of bank FDs, there are currently a handful of banks that are currently providing higher returns on 5-year tax-saving fixed deposits than post office time deposits. So if you are a tax-saver and want to invest in a secure investment to minimize your tax liability, then here are the best tax-saving FDs to invest in.

5 Best Tax Saving Fixed Deposits of Private Banks

Banks	Regular FD Rates	Senior Citizen FD Rates	W.e.f.
Yes Bank	6.50%	7.25%	03.06.2021
DCB Bank	6.50%	7.00%	15.05.2021
RBL Bank	6.50%	7.00%	01.06.2021
IndusInd Bank	6.00%	6.50%	04.06.2021
Karur Vysya Bank	6.00%	6.00%	11.01.2021
Source: Bank Websites

5 Best Tax Saving Fixed Deposits of Public Sector Banks

Banks	Regular FD Rates	Senior Citizen FD Rates	W.e.f.
Union Bank	5.55%	6.05%	15.12.2020
Canara Bank	5.50%	6.00%	08.02.2021
State Bank of India	5.30%	5.80%	08.01.2021
Bank of India	5.30%	5.80%	01.06.2021
Punjab & Sind Bank	5.30%	5.80%	16.05.2021
Source: Bank Websites

5 Best Tax Saving Fixed Deposits of Small Finance Banks

Banks	Regular FD Rates	Senior Citizen FD Rates	W.e.f.
Utkarsh Small Finance Bank	6.75%	7.25%	19.10.2020
Jana Small Finance Bank	6.75%	7.25%	07.05.2021
Ujjivan Small Finance Bank	6.75%	7.25%	05.03.2021
AU Small Finance Bank	6.25%	6.75%	01.04.2021
Suryoday Small Finance Bank	6.25%	6.50%	21.06.2021
Source: Bank Websites