INSUBCONTINENT EXCLUSIVE:
A person also needs to have income tax Permanent Account Number to invest in SBI tax saving scheme.SBI or State Bank of India, the country's
largest lender, offers a number of saving schemes under its personal banking portfolio
One such scheme offered by SBI is Tax Savings Scheme, 2006, which is a kind of fixed deposit or term deposit
Resident Indians as an individual or in the capacity of the Karta of the Hindu Undivided Family are eligible to invest in the scheme,
according to SBI's website, sbi.co.in
1,000 or in multiples thereof whereas the maximum deposit should not exceed Rs
SBI revised its interest rates on term deposits with effect from August 26
The interest rates for retail deposits below Rs
withdrawalAn investor cannot withdraw the term deposit before the expiry of five years from the date of its receipt, according to SBI's
1.5 lakh under Section 80C of Income Tax Act 1961
A nomination facility is also available with SBI's scheme
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