Livemint tops charts as the fastest growing news website in the world 🌏 Click here to know more. Broker Services Wealth Imperia Preferred Classic Vishesh Prime INVEST Bonds, Mutual Funds. Consequently, purchasing post office TDS gives the investor tax savings of up to ₹1.5 lakh. Fixed Deposit Non withdrawal Deposits Fixed Deposit Interest Rate Recurring Deposit Safe Deposit locker. Anyone with a rudimentary knowledge of the internet can use this calculator. With the aid of recurring deposits, investors can set away a little percentage of their income each month and invest it in a product that could generate more returns than a typical savings account. However, post office term deposit of 5 years is eligible for tax deduction under Section 80C of the Income Tax Act, 1961. Groww’s HDFC recurring deposit calculator is convenient and easy-to-use. Investments in bank RD are not exempt from taxation under Section 80C of the Income Tax Act of 1961. Post Office RD vs SBI RD vs HDFC Bank RD: Income tax benefits
Post Office offers RDs for a tenure of 5 years only.Īn SBI or HDFC Bank RD account can be opened by cheque/cash, but an RD account in a Post Office can be opened by cash only. HDFC Bank offers RD ranging from six months to 120 months (10 years).
SBI recurring deposits have maturity ranging from 1 year to 10 years. Post Office RD vs SBI RD vs HDFC Bank RD: Maturity These rates are effective from January 24, 2023.ĥ-year RD rates compared: Post Office vs SBI vs HDFC Bank HDFC Bank offers an interest rate ranging from 4.50%-7% on RDs maturing in six months to ten years.
