Special Deposits

Tax Saver Account

Objective To have a double benefit of interest income and tax benefit
Tenor for the Deposit
  • 5 years
  • Existing and New Customers of Tamil Nadu Grama Bank
Interest Rate
  • Subject to change by the Bank from time to time. Please refer our Interest Rate Label / visit our nearest branch
Amount of Deposit
  • Maximum amount of ₹1.5 Lakh. (Limit -as per Sec 80C of Income Tax Act,1961)
Salient Features
  • Nomination facility available
  • At present, investment up to ₹1,50,000/- is exempted under Section 80C
  • Available in FDR / RIP scheme
  • No loan / foreclosure allowed upto 5 years (Lock in period)
TDS (Tax Deducted at Source)
  • Interest on these term deposits shall be liable to tax under the Act, The tax on such interest shall be deducted in accordance with the provisions of section 194A or section 195 of the Act.
Documents Requirement to open a New Account
  • Please visit your nearest branch with required KYC documents (Officially Valid Documents for Identity and Address Proof)