1. Home
    Home Page
  2. Tax
    Income Tax & Other Taxes
  3. Forms
    Fillable Forms
  4. Finance
    Personal Finance
  5. PPF
    PPF Calculator, forms, Rules & Info
  6. SSY
    SSY Calculator, form, Rules & Info
  7. Widgets
    Complete code / Embed code
  8. Misc.
    Misc. scripts, calculators & utilities
Home  ❯  Finance  ❯  Tax Saving Bank Deposit Scheme

Bank Tax Saving Deposit Scheme

EMI, Loan and Mortgage Calculators
SIP, RD, TD and Annuity Calculators

This scheme was notified by Central Government vide Notification No. 203/2006 dated 28th July 2006. This is the only deposit scheme available with banks where tax benefits under section 80C of Income Tax, Act are available to depositors The deposit is made for a period of five years and no loan is available against security of this deposit.

Salient features of Bank Term Deposit Scheme (BTDS)

Please click / tap on the feature name to hide / view its content.
Only individuals and HUFs (Hindu Undivided Families) are eligible. The deposits can be issued on single holder or joint holder types.
₹ 100/-
In multiples of ₹ 100/- not exceeding ₹ 1,50,000/- in a year.
5 years
The interest rate is fixed by issuing bank from time to time.
The interest may be paid either in lump sum at the time of maturity or it may be paid every quarter or every month.
Available, except in cases where deposits are made or held in the name of minors.
Allowed from one branch of the issuing bank to another.
Not allowed, except in the event of the death of the first holder of the deposit in a case of a joint holder type deposit, the other holder of the deposit shall be entitled to encash the term deposit before its maturity by making an application to the branch manager of the bank, supported by proof of death of the first holder of the deposit.
(Amendment by Notification No.289/2007 dated 13-12-2007)
Available under Section 80C
Taxable, TDS is deductible at source.

Disclaimer : This site does not make any claim that the information provided on its pages is correct and up-to-date. The contents of this site cannot be treated or interpreted as a statement of law. In case, any loss or damage is caused to any person due to his/her treating or interpreting the contents of this site or any part thereof as correct, complete and up-to-date statement of law out of ignorance or otherwise, this site will not be liable in any manner whatsoever for such loss or damage.

Updated : Feb 05, 2019