State Bank of India (SBI) has come up with a wonderful 'Double Advantage' tax saving term deposit scheme. If you want to save tax and at the same time want to grow your money fast, you should consider investing in this fixed deposit (FD).
Rate of interest of this fixed deposit (FD) scheme is very attractive. For senior citizens bank is offering 9 percent rate of interest and general people will get 8.50 percent per annum. You can invest up to one 1, 00.000 rupees in this special term deposit scheme. The depositor will get tax benefits under 80C of Income Tax Act.
Bank has fixed the tenure as minimum 5 years and maximum 10 years. Premature withdrawal is not allowed. For most information visit any State Bank of India branch.