Fixed Deposit (5 years)

• The deposit can be withdrawn at any time before maturity without any difficulty.
• Loans up to 75%-90% of the principal are available.
• Investment on bank deposits, along with other specified incomes, is exempt from income tax up to a limit of Rs.12,000/- under Section 80L.
• Tax deduction at source (TDS) on fixed deposits on interest incomes of Rs.5,000/- and above per annum.
• Bank deposits are totally exempt from Wealth Tax.