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Tax Saving FDs: Bumper returns with tax exemption on investment of ₹ 10000, know how much money you will get in 5 years
Tax Saver Bank FDs: If someone makes an FD of Rs 10,000 in YES Bank, he gets an interest rate of 6.8 percent on it. This amount will amount to approximately Rs 13,975 in the next five years.
New Delhi: People save money at different places to meet the shortage of money for the future and for important needs. This savings gets further enhanced when there is tax exemption on the investment amount and bumper returns along with the interest rate. People are looking for such schemes which will protect their investments and give a good return on maturity.
There are many ways to invest to save money, but here we are talking about fixed deposits. Through this we will know the FD returns and interest rates of five banks. Along with this, we will also know that if someone invests Rs 10,000 in the FD of these banks, then how much return can be received on it in the coming five years or more. Meaning, how much will this 10 thousand rupees become in five years? According to the information, tax exemption is available on five-year bank FD under Section 80C. Let us now know the names of banks, interest rates on deposits and estimated returns…
6.8% interest rate return on investment
First, we’ll learn about three banks that offer strong returns over five years on an FD of Rs. 10,000, with an interest rate of 6.8%. A 10,000 rupee FD with Yes Bank earns an interest rate of 6.8%. This amount will grow to approximately Rs. 13,975 over the next five years.
Concerning City Union Bank, an investment of Rs. 10,000 in its FD can yield a return of Rs. 13,975 after five years. Similarly, if someone deposits Rs. 10,000 in an IDFC First Bank FD for five years, they will receive a return of Rs. 13,975 over the stipulated period.
6.9% return
Jammu & Kashmir Bank (J&K Bank) offers eligible customers a 6.9% interest rate on its five-year FD scheme. If an investor invests ₹10,000 in this bank’s FD, they will receive ₹14,044 after a certain period of time.
7.5% Interest Rate
Now let’s talk about DCB Bank. It offers FD returns at an interest rate of 7.5% to its eligible customers. If someone invests ₹10,000 in this FD, they will receive a return of ₹14,499 after five years at the specified time.
Disclaimer: The suggestions given in this analysis are those of individual analysts or brokerage companies, not NBT. We advise investors to consult certified experts before making any investment decisions, as stock market conditions can change rapidly.
Read More: Senior Citizen Bank FDs: These 5 banks will make you earn huge profits on FD, know how much return you will get?
The post Tax Saving FDs: Bumper returns with tax exemption on investment of ₹ 10000, know how much money you will get in 5 years first appeared on informalnewz.
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