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Are you an SBI account holder? Now, open FD account online via net banking and save tax; check how
SBI offers FD accounts with a lock-in period of five years.
Highlights
- Investors can also avail of tax benefits against their investments in FD schemes under Section 80C of the income tax act.
- Investors can also get tax benefits with other fixed deposit schemes of longer maturity periods.
New Delhi: State Bank of India (SBI) offers customers various investment options such as fixed deposits, recurring deposits, and saving accounts, among others, that provide safe returns along with tax benefits. The investment options are best suited for investors planning to take fewer risks to secure their future or fulfil their financial goals.
For instance, SBI offers FD accounts with a lock-in period of five years. Investors can also avail of tax benefits against their investments in FD schemes under Section 80C of the income tax act.
Investors can also get tax benefits with other fixed deposit schemes of longer maturity periods. However, investors should note that they won’t receive interest benefits if the FD account is closed before the maturity period.
Here’s how to open an SBI FD account online via net banking:
Step 1: Log in to the official SBI Net Banking portal.
Step 2: Go to the 'Fixed Deposit' tab and click on the 'e-TDR/eSTDR FD' button.
Step 3: Select the 'e-TDR/eSTDR FD' option.
Step 4: Select the 'Proceed' button.
Step 5: In this step, you will have to select the FD account. You will also be required to select the amount of investment.
Step 6: Carefully read the terms and conditions and accept them after understanding them completely.
Step 7: Finally, click on the ‘Submit’ option to open your SBI tax-saving fixed deposit (FD).
State Bank of India has recently increased the interest rates on bank fixed deposits (FDs). The move came after several major private and public sector banks in the country increased interest rates of fixed deposits. Also Read: Android 13 to warn users about apps that uses excessive background battery
SBI has pointed out that revised rates will be applicable on fixed deposits for tenures of more than 2 years. The revised rates are applicable on FD investments worth less than Rs 2 crore. Also Read: Diesel price increased by Rs 25 per litre for THESE customers; check new rates in Delhi, Mumbai
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