Smart Saving Meets Tax Efficiency
Secure guaranteed returns and a cleaner tax bill.
The Bharat Tax Benefit Deposit is a specialised fixed-term investment that offers the dual advantage of high-yield returns and tax exemptions. Specifically curated for individual taxpayers and HUFs, this deposit allows you to claim deductions under Section 80C of the Income Tax Act. With a mandatory lock-in period that ensures disciplined growth, it is the perfect vehicle for those looking to build a secure future while optimising their current tax outgo.
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Personal Service
People-centric Banking
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Free Insurance
Life & Accident Cover
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Digital Services
Mobile Banking, UPI
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Debit Card
Rupay Classic, Platinum
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Section 80C Benefits: Deduct your investment amount from your total taxable income (up to ₹1.5 Lakh per annum).
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Fixed Tenure: A mandatory 5-year lock-in period as per government regulations to ensure tax eligibility.
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Flexible Payouts: Choose between cumulative interest (re-investment) or periodic interest payouts to suit your cash flow.
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Competitive Returns: Earn interest rates on par with our long-term Fixed Deposits.
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Joint Holding: Available for joint accounts, with the tax benefit applicable to the first-named account holder.
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Nomination Facility: Easy nomination process to ensure your loved ones are protected.
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Resident Individuals (Singly or Jointly).
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Hindu Undivided Families (HUF) having a PAN card.
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Note: This product is not available for Companies, Firms, Societies, or Trusts.
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One latest passport-size photograph.
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Any one of - Aadhaar Card, Voter’s ID, Driving License, Passport, Job Card issued under MGNREGA or the new Viksit Bharat-G RAM G Act, Letter issued by the National Population Registrar.
- PAN Card (Mandatory): Necessary for mapping tax benefits and TDS compliance.
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What is the maximum amount I can invest? While you can invest more, the tax deduction under Section 80C is capped at ₹1.5 Lakh per financial year.
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Can I withdraw the money before 5 years? No, as per Income Tax rules, premature withdrawal or loans against this specific deposit are not permitted during the 5-year lock-in.
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Is the interest earned tax-free? No, while the principal investment is deductible, the interest earned is taxable, and TDS will be applied as per your tax slab.
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Who gets the tax benefit in a joint account? The tax deduction is only available to the first holder of the account.
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Can I pledge this deposit for a loan? No, the Bharat Tax Benefit Deposit cannot be pledged as security for any loan or facility.
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Minimum Deposit: ₹500 and in multiples thereof.
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Maximum Deposit: Up to ₹1.5 Lakh per year for tax benefit purposes.
- Premature Closure: Not allowed before the completion of the 5-year tenure.