Disclaimer:
*Applicable for Senior Citizen Individuals (60 years and above) who are Resident Indians on deposits less than 3 Cr (except for non-callable deposits)
Tax Saving
Get an deduction of up to INR 1,50,000 under section 80C of the Income Tax Act. Save taxes while you see your investment grow.
Guaranteed Returns
Get guaranteed returns on investment after the lock-in period of five years.
Ideal For Senior Citizens*
Earn up to 0.50% p.a. higher interest rate and plan for your retirement effectively.
Investment Amount
Invest as little as INR 1,000 and enjoy tax benefits on investments up to INR 1,50,000 per financial year
Things to know
How to apply
AU Bank website
AU Bank branch
Video Banking
Eligibility
- Applicants who are residential individuals including senior citizens
- Hindu undivided families are eligible.
Why AU
-
National presence
Bank with us across 1042 branches & ATMs.
-
Get a bit more
Enjoy quality services at competitive rates.
-
Visit branches without the wait
Our ample touchpoints ensure all our customers are conveniently served.
-
Superfast app
Manage and track all your transactions on the AU 0101 App.
-
Sustained growth
Expanding by every quarter, with a balance sheet of over ₹1 lakh crore.
Bank anywhere anytime, on the AU 0101 mobile app
-
![View balance and transactions]()
View balance and transactions
-
![Download account statement]()
Download account statement
-
![Request cheque book]()
Request cheque book
30 lakh customers banking on app
Not sure which product is right for you?
-
Personal assistance
-
No spam
Customer support
24x7 help
AU 5-Year Tax Saving Fixed Deposit FAQs
What is a Five-Year Tax Saving FD?
A Five-Year Tax Saving Fixed Deposit is a scheme where you can invest as low as INR 1,000 for a lock-in period of five years and be eligible for deduction of taxes under Section 80C of the Income Tax Act.
Is Five-Year FD tax-free?
Tax Saver FD are not Tax Free. However, You are eligible to claim deduction upto 1,50,000 Invested in this deposit under section 80C of Income Tax Act,1961. Note That, Interest Received on Maturity after 5 Years is taxable.
What are the interest rates on Five-Year Tax Saving Fixed Deposits?
Interest on Tax-Saver FD is same as our Regular Fixed Deposit for 5 Years (60 Months).
Can I break a Five-Year Tax Saving FD?
No, you cannot break a tax saver FD during the tenure of the deposit.
How much amount of the FD interest tax-free?
The Interest on FD is received on Maturity and is taxable when received. However, TDS Liability as per the Norms of Income tax Act,1961 will levy on FD Interest, on which 10% of the Total Interest Earned will be deducted and rest will be paid to you.
How does a Five-year Tax Saving Fixed Deposit work?
Experience financial flexibility with the Five-Year Tax Saving FD, allowing deposits ranging from a minimum of INR 1,000 to a maximum of INR 1,50,000. This amount remains secured as a Fixed Deposit for a five-year lock-in period, providing you with a tax deduction of up to INR 1,50,000 under section 80C. After the five-year period, you will be able to withdraw the money from the bank.
Is the Five-year Tax Saving Fixed Deposit a good investment?
Yes, not only does the Five-Year Tax Saving FD help you save on taxes, but it also provides high interest rates. Therefore, it helps you accumulate savings and also provides guaranteed returns while saving on tax.
