Tag Archives: section 80C

How do tax saving FDs have such high effective yields of 16.64 % pa?


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A client of mine called me up recently to tell me that her bank was offering an interest rate of more than 16 % pa on tax saving fixed deposits, and for senior citizens, it was even higher! This was informed to her by the customer service staff when she had been to her bank for some routine transactions. She was also given a printed paper/ad which asserted this fact.

 

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