New Delhi: Looking to save on taxes? Consider Tax Saving Fixed Deposits (FDs) that let you invest wisely while enjoying exemptions under Section 80C of the Income Tax Act. These fixed deposits come with a minimum tenure of 5 years and offer a maximum tax exemption of Rs. 1.5 lakh.


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Here's the list of tax-saving FDs of major banks that are lucrative opportunities for investors to save on taxes while ensuring stable returns. (Also Read: Swiggy To Announce 2nd Round Of Layoffs Amid Cost-Cutting Measures)


State Bank Of India (SBI) Tax-Saving FDs Rate:


SBI provides a 6.5 percent interest rate for regular public investors and an even higher 7.5 percent rate for senior citizens. (Also Read: Stock Market Closed Today? Check When It Reopens)


HDFC Bank Tax-Saving FDs Rate:


HDFC Bank offers a 7 percent interest rate for regular investors and an enticing 7.75 percent rate for senior citizens.


Punjab National Bank (PNB) Tax-Saving FDs Rate:


PNB joins the list with a 6.5 percent interest rate for the general public and a 7.3 percent rate for senior citizens.


IDFC Bank Tax-Saving FDs Rate:

IDFC Bank offers a 7 percent interest rate for regular investors and 7.5 percent for senior citizens.


Bank Of Baroda Tax-Saving FDs Rate: 


The public sector bank offers a 6.5 percent interest rate for regular investors and a respectable 7.15 percent rate for senior citizens.


Axis Bank Tax-Saving FDs Rate: 

Axis Bank offers a 7 percent interest rate for regular investors and a 7.75 percent rate for senior citizens.


Bandhan Bank Tax-Saving FD Rates:

If you are a regular investor, you will get a 7 percent interest rate as a return. The senior citizens will get 0.5 percent more return.