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How Will Tax Saver FD Calculator Help Make Your Financial Planning Effective and Save Your Taxes?
Posted on Monday, May 8th, 2023 | By IndusInd Bank
A tax saver FD calculator precisely calculates returns, compares investment possibilities, and tracks investments for effective financial planning. Invest in IndusInd Bank tax saver FD scheme for attractive returns and tax advantages.
As an individual striving to be financially responsible, you must consider different investment options that offer returns while reducing tax liability. One popular choice among taxpayers is the Tax Saver Fixed Deposit (FD), which has a five-year lock-in period and provides tax benefits under Section 80C of the Income Tax Act. However, determining the exact returns on a tax-saving FD can be challenging, as it depends on several factors, such as the rate of interest, investment amount, and tenure. That is where a tax saver FD calculator can be useful for you. It is a simple tool that can help you calculate the potential returns on your investment in tax saver FDs.
This blog will discuss how a tax saver FD calculator can improve financial planning and save taxes.
Benefits Of Investing in Tax Saver FDs
Investing in tax saver FDs offers the following benefits:
| Tax Benefits | You can claim a tax deduction of up to Rs.1.5 lakhs per annum under Section 80C of the Income Tax Act, 1961. |
| Attractive Returns | Tax saver FDs have a higher interest-earning potential than savings accounts. |
| Minimum Lock-in Period | You can receive tax benefits on FDs for a minimum tenure of five years |
| Security | You can be assured of complete security as no market fluctuations affect interest rates. |
| Flexible Deposit Amount | You can choose the deposit amount based on your convenience. |
How /Can a Tax Saver FD Calculator Help with Financial Planning?
Here’s how a tax saver FD calculator can support your financial objectives.
Accurate Calculation of Returns
You can estimate the potential returns by entering your investment amount, tenure, and interest rate in the tax saver FD calculator. This information can help you plan your finances better and make the right investment decisions.
Comparison of Different Investment Options
You can use the calculator to compare the returns offered by various tax-saving investment options such as Public Provident Fund (PPF), National Savings Certificate (NSC), and Equity-Linked Saving Scheme (ELSS). Choose the one that best fits your financial goals and provides the best returns.
Monitoring Investments
You can use the calculator to monitor your investments, keep track of the maturity date, interest rate, and returns, and plan future investments.
No Hidden Charges
You can use the tax saver FD calculator for free, as there are no hidden charges or fees. You can use it as often as you want to calculate the returns on your investment, making it an excellent tool for your financial planning.
Why Should You Invest in IndusInd Bank Tax Saver FD?
IndusInd Bank’s tax saver FD scheme is a smart way to boost your wealth while keeping your taxes in check. The tax benefits you receive and the bank’s attractive interest rates make it a highly lucrative investment choice. The flexible tenure of 5 years allows you to invest for the long term while earning solid returns. With a user-friendly online application process, investing in IndusInd Bank tax saver FD is quick and easy, leaving you with more time to focus on your financial goals.
So, why wait? Make the smart move and invest in IndusInd Bank tax saver FD today!
Disclaimer: The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information.
