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ICICI Bank Tax Saver Fixed Deposit (FD) is a smart choice when it comes to tax planning. Tax Saver FD, also known as 5 Year Tax Saving FD, offers a convenient way to save more while securing your financial future with tax-free returns. It is ideal for investors seeking low-risk returns and reduced tax liabilities. You can start small with a minimum investment of Rs 10,000. You can also save up to Rs 46,800 in taxes with ICICI Bank Tax Saver FD.
Lock your money into this tax-free 5 year FD and watch your savings grow. At ICICI Bank, we prioritise smart financial choices, giving you the confidence to make sensible decisions for your financial well-being. Start your Tax Saver FD with ICICI Bank today.
Why to invest?
- Dual benefits of attractive FD interest rates and tax saving
- Invest as small as ₹10,000
- Get tax deduction up to ₹1,50,000 under Section 80C
- Flexible interest pay out – monthly, quarterly or reinvestment in principal.
Know before you invest
- 5-year lock-in period
- Minimum investment of ₹10,000 and maximum of ₹150,000 for a duration of 5 years
- Nomination - Nominate a single nominee to your account proceeds, whether held solely or jointly. Applicants are required to fill a form prescribed under the Banking Companies (Nomination Rules), 1985. For details, please visit the nearest ICICI Bank branch.
- No premature withdrawal and auto-renewal facility.
- Interest earned is taxable
- FD allows only a one-time lump sum deposit
Key features of Tax Saver FD
Discover the exceptional features of ICICI Bank Tax Saver FD that make it a smart choice for your financial planning:
- Dual benefits - Enjoy the dual advantage of attractive interest rates and tax savings. Your investment grows while you save on taxes, helping you build wealth while reducing your tax liability.
- Option to start with a small amount - Start your investment journey with as little as Rs 10,000. This affordable entry point ensures accessibility for a wide range of investors.
- Tax deduction - Benefit from tax deductions of up to Rs 1,50,000 under Section 80C of the Income Tax Act. Investing in a Tax Saver FD can lower your taxable income. For instance, if you earn Rs 10 lakh per annum and invest Rs 2 lakh in a Tax Saver FD. You can claim the maximum benefit and get your taxable income reduced from Rs 10 lakh to Rs 8.5 lakh.
- Flexible interest payouts - Tailor your investment with flexible interest payout options. Choose from monthly, quarterly or reinvestment in the principal to align your earnings with your financial goals.
ICICI Bank Tax Saver Fixed Deposit empowers you to optimise your savings while enjoying the convenience of flexible investment options. Invest wisely and let your money work for you while ensuring benefits which can go as high as Rs 46,800 in tax savings
*Assured returns are subject to change due to Tax Deducted at Source (TDS), wherever applicable.
