Tax saver FD calculator
A five-year FD that cannot be broken, and what the 80C deduction is actually worth to you.
Record this deposit once and the app does the rest: reminded before it matures, told the day TDS starts at that bank, and the rules of the product explained with your own numbers. Free, and your deposits stay on your phone.
Get it on Google PlayQuestions people ask
Can I break a tax saver FD?
No. The five-year lock-in is a condition of the deduction, so no bank will close it early, and you cannot borrow against it either.
How much can I claim?
Up to ₹1.5 lakh a year under section 80C, and only if you are on the old tax regime. The new regime has no such deduction.
Is the interest tax free?
No. Only the amount you put in is deductible. The interest is taxed every year at your slab rate, exactly like any other FD.
Does it count towards TDS?
Yes, along with every other deposit you hold at the same bank.
Is a joint account allowed?
Yes, but the deduction goes to the first holder only.