PGB Tax Saver Fixed Deposit Scheme
Secure your savings and reduce your tax liability.
Tax Benefit:
Eligible for Income Tax deduction up to Rs. 1,50,000/- under Section 80C of Income Tax Act, 1961.
Scheme Highlights
Deposit Limits:
Min: Rs. 100/- (or multiples thereof). Max: Rs. 1,50,000/- per financial year.
Deposit Tenure:
Minimum 05 years and Maximum 10 years.
Lock-in Period & Withdrawal:
Strict 05-year lock-in. Pre-mature withdrawal is NOT allowed under any circumstances.
Nomination Facility:
Available as per Bank rules. Essential for securing the funds for your nominee.
Additional Scheme Information
- Eligibility:Account can be opened by Individuals (singly or jointly) and Hindu Undivided Families (HUF) .
- Interest Rate:Current attractive rate of 6.00% p.a. (subject to change). Senior Citizen rates are higher.
- Interest Payout:Interest can be paid monthly,quarterly, or compounded annually (reinvested) as per customer choice.
- Loan Facility:No loan or overdraft facility is permitted against this deposit due to the lock-in and tax-saving nature.
For more information or to open an account, kindly visit your nearest PGB branch.