Fixed deposits are one of the best investment avenues for risk-averse investors looking for assured returns. You can also choose a tax-saver FD if you wish to enjoy tax deductions under Section 80C of the Income Tax Act of 1961.
AU Small Finance Bank is among the top FD issuers offering competitive interest rates. You can also invest in the AU Bank tax-saver FD, which helps save tax and aids in financial growth.
Read on to learn about the features and benefits of AU Bank tax-saver FDs, as well as their interest rates.
The AU Small Finance Bank offers a tax saver fixed deposit, which comes with a tenor of 5 years. By opting for AU Bank tax-saver FD, you can enjoy an income tax deduction of up to ₹1.5 Lakhs.
The AU Bank tax-saver FD rates are the same as interest rates for regular FDs with a tenor of 60 months, i.e., 7.25% p.a. Moreover, senior citizens can enjoy an additional interest rate of up to 0.50% per annum on the AU Bank tax-saver FD.
You can also explore other AU Small Finance Bank FD rates for options that don’t come with a long lock-in duration.
FD interest rates are fixed for the entire tenor, providing assured returns
5-year lock-in period that prevents withdrawal before the maturity ends
You can apply for a five-year tax-saver FD in the following ways:
The tax-saver FD is also available on Bajaj Markets. Through the platform, you can invest online with minimal documents and secure your financial growth easily.
You can use the video banking facility available on the AU Small Finance Bank official website and apply for the tax-saver FD. All you need is a PAN card and an Aadhaar card.
If you are an existing customer of the AU Small Finance Bank, you can apply for the tax-saver FD through the AU 0101 app or the Net Banking facility.
You can also apply for this FD scheme by visiting the nearest branch. Alternatively, you can also get in touch with the AU Bank customer care at 1800-1200-1200 to apply for a tax-saver fixed deposit.
To get the benefits of AU Bank tax saver FD, you must fulfil the following requirements:
Hindu Undivided Family (HUF)
In conclusion, investing in the AU Bank tax-saver FD can be a great way to earn income on idle funds and save on taxes. You can also browse the multiple tax saver FD options available on Bajaj Markets and choose one that best fits your goals and finances. To compare the options and plan your investment, use the AU Small Finance Bank FD calculator.
The information provided by BFDL herein above is related to the Non-Partnered Banks/ NBFCs and is just for the purpose of information and under no circumstances the information provided hereinabove is intended to be source of advice or recommending any financial investment advice or endorsement of any sort.
The information including interest rates with regard to fixed deposit, provided on this website is gathered through publicly available sources over the internet and is considered as accurate and reliable to the best of our knowledge. BFDL disclaims any responsibility or liability regarding inaccuracies, omissions, mistakes etc. as well as offers by the Non-Partnered Banks. The use of information set out is entirely at the User’s own risk and User should exercise due care prior taking of any decision, on the basis of information mentioned hereinabove. You are advised to visit/ contact the respective Banks/ NBFCs to verify the information before making any investment or opening an account. Further, BFDL does not undertake any responsibility or liability to update this information. YOU ARE SOLELY RESPONSIBLE FOR ANY LIABILITY OR DAMAGE YOU INCUR THROUGH ACCESS TO OR USE OF THE SITE OR SUCH INFORMATION OR MATERIALS EXCEPT WHERE THE LAWS AND REGULATIONS OF A PARTICULAR JURISDICTION CONCERNING WARRANTIES CANNOT BE WAIVED. Additionally, display of any trademarks, tradenames, logo and other subject matters of intellectual property owners. Display of such Intellectual Property along with the related product information does not imply BFDL’s partnership with the owner of the Intellectual Property of such products.
With the AU Bank tax-saver FD, you can claim deductions of up to ₹1.5 Lakhs on the amount you invest u/s 80C of the Income Tax Act. However, the interest you earn is not tax-free and will be taxable as per the applicable slab rate.
The AU Small Finance Bank tax-saver FD rates are the same as regular FDs, i.e., 7.25% p.a. Moreover, senior citizens can enjoy an additional interest rate of up to 0.50% per annum.
No, you cannot withdraw from the tax-saver FD before the end of the maturity period.
Yes, the five-year AU Bank tax-saver FD is a good option. This is because you can save on taxes while earning fixed returns throughout the tenor.