Tax Saving FD Calculator

Tax-saving Fixed Deposits under Section 80C must be held for 5 years. Premature withdrawal is generally not allowed except in case of death of the depositor, unlike regular FDs where banks allow closure with a penalty.

You can deposit more, but the Section 80C deduction is capped at ₹1.5 lakh per year across all eligible instruments (EPF, PPF, ELSS, tax-saving FD, etc.). Amounts above that earn interest but do not get extra 80C benefit in that year.

No. The investment qualifies for 80C deduction once; interest earned each year is taxable as income from other sources. TDS may apply if interest crosses the threshold—senior citizens enjoy a higher TDS exemption limit on interest income.