SBI Tax Saving FD: Secure Returns, Tax Benefits Under Section 80C

• SBI Tax Saving Scheme offers tax benefits under Section 80C of the Income Tax Act, allowing investments up to Rs 1,50,000.
• The scheme provides risk-free returns with an annual interest rate of 6.05% for 5 to 10 years, similar to regular term deposits.
• Minimum deposit is Rs 1,000 (general) or Rs 10,000 (senior citizens), available at all SBI branches.
• Features a 5-year lock-in period, meaning no withdrawals or loan facilities are available during this time.
• Nomination is available for individuals; in case of depositor's death, nominees or legal heirs can claim the amount.