savings

Tax Saving Products

Pick tax-saving investments suited to you

Pick tax-saving investments suited to you  
5-year Tax Saver FD, MF-Equity Linked Savings SchemeLife Insurance-Term & Unit Linked Insurance Plan , Public Provident Fund, National Savings CertificateHome Loan Principal RepaymentSukanya Samridhi Yojana Section 80C Give yourself a raise up to ₹46,800 p.a.
National Pension System Section 80C, 80CCD (1B)  Give yourself a raise up to ₹46,800+ ₹15,600 p.a.
Health Insurance – Family Floater Section 80D Give yourself a raise up to ₹23,400 p.a.*
Home Loan Interest for Self Occupied Property Section 24B Give yourself a raise up to ₹62,400 p.a.

*Considering deduction of 50,000 for Senior Citizen parents and 25,000 for self at the highest tax slab of 31.2%.

Tax benefit of 46,800 is calculated on investment of 1,50,000 at the highest tax slab of 31.2% under Section 80CCD(1B) of Income Tax Act, 1961

Tax benefit of 15,600 is calculated on investment of 50,000 at the highest tax slab of 31.2% under Section 80C of Income Tax Act, 1961

Tax benefit of 62,400 is calculated on interest payment of 2,00,000 at the highest tax slab of 31.2% under Section 24(b) of Income Tax Act, 1961.

There are also other sections like 80G where you can make a donation to approved funds/ charitable institutions which would make you eligible for tax exemption. You can make the donations online as well.

InvestmentReturnsLock-in periodTax on returns
5-year bank Fixed Deposit 6% to 7% 5 years Yes
Public Provident Fund (PPF) 7% to 8% 15 years No
National Savings Certificate 7% to 8% 5 years Yes
National Pension System (NPS) 8% to 10% Till Retirement Partially Taxable
ELSS Funds 15% to 18% 3 years Partially Taxable

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