#1
January 20th, 2016, 12:55 PM
| |||
| |||
Indian Overseas Bank Tax Saver Scheme
Can you provide me the details of the Tax Saver Scheme offered by IOB or Indian Overseas Bank?
|
#2
January 20th, 2016, 12:57 PM
| |||
| |||
Re: Indian Overseas Bank Tax Saver Scheme
The Indian Overseas Bank has introduced a tax saving deposit scheme for the benefit of its customers, particularly senior citizens. It enables the depositors to avail benefits under section 80 C of the Income Tax Act. Under the scheme deposits for a period of five years and above would be accepted for a minimum of Rs.10,000 and Rs One Lakh. An interest rate of 8.15% is offered under the scheme. For senior citizens, the rate of interest 9.1% Besides, the customers enjoy the benefit of free personal accident insurance cover for Rs one Lakh. You can get 9.00% p.a with IOB Tax Saver Deposit Scheme. Details for 7 days to 10 Years are shown in Table. Time Period Interest Rates For Deposits Below 1 Crore For Deposits 1-10 Crores 7 – 14 Days 7.25 7.00 15 – 30 Days 7.25 7.25 31 – 45 Days 7.25 7.25 46 – 60 Days 7.25 7.25 61 – 90 Days 7.00 7.00 91 Days – 180 Days 7.25-7.50 7.25-7.50 181 Days – 270 days 8.25 7.50 271 Days – 1 year 8.50 8.00 1 Year – 2 Years 8.75 8.50 2 Years – 3 Years 8.75 8.25 3 Years – 5 Years 8.75 8.30 5 Years – 10 Years 8.75 8.30 Tax Saver Scheme |
|