APGVB Bank Fixed Deposit Interest Rate

Fixed Deposit or FD is a good interest rate investment option. APGVB Bank offers a Fixed Deposit Account with a high interest rate. Fixed Deposit can open for the duration of a minimum of 7 days and a maximum of ten years. Fixed Deposit gives you a high-interest rate on your deposit amount. The Deposit minimum amount is depending upon the bank.

Benefits of APGVB Bank Fixed Deposit

  • You get a higher interest rate on your fixed Deposit while comparing with saving accounts.
  • Multiple fixed deposits can open.
  • APGVB Bank also gives a loan on your fixed Deposit so that, you don’t need to break your Deposit for your need.
  • You can get an Rs.1.5 lakh exemption under Section 80 C of the Income Tax Act, 1961.
  • If you are a senior citizen, then you will get a high-interest rate on your Fixed Deposit account.
See also  City Bank Fixed Deposit Interest Rate

Fixed Deposit Eligibility

  • Fixed Deposits can open the name of Individual, Joint, Society, Company, Partnership, etc.
  • The applicant must have a savings account in the bank.

Income Tax Facts on APGVB Bank Fixed Deposit Interest

If you are looking for income tax fact on Fixed Deposit interest, then you can check below:

  • If Fixed Deposit interest is less then Rs. 40, 000/-, then the APGVB Bank will deduct TDS on interest.
  • Interest earned on Fixed Deposit is taxable. It will treat as Income from Other Sources.
  • If you don’t want to pay any TDS on Fixed Deposit, then you have to submit Form 15G and Form 15H in APGVB Bank.
See also  ICICI Bank Fixed Deposit Interest Rate

APGVB Bank Tax Benefit Fixed Deposit

  • Interest Rate is 6.5% for 5 years term deposits.
  • The amount can not withdraw before five years.
  • The deposit account can not transfer to another bank.

APGVB Bank Fixed Deposit Interest Rate

Period of Deposit

Interest payable on deposits below Rs.50 Lakhs

 7 to 14 days

4.00%p.a

 15 to 30 days

6.15%p.a

 31 to 60 days

6.15%p.a

 61 to 179 days

6.15%p.a

 180 days  to 364 days

6.40%p.a

 1 year to less than 2 years

6.60%p.a

 2 year to less than 3 years

6.60%p.a

 3 year to less than 5 years

6.60%p.a

 5 years to 10 years

6.60%p.a

See also  Equitas Bank Fixed Deposit Interest Rate

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

S.No

Special Deposit Product

Scheme Duration

Principal amount/Unit Amount (Rs)

Revised Rate from 14.02.2020

General Public

Senior Citizen

1

Vikas 18

18 Months

Rs.18000/- (In multiples)

6.60

7.10

2

Vikas 51

60 months

Rs.51000/-

6.60

  7.10

3

VikasPatra

36 months

Rs.800/- (Multiples)

6.60

   7.10

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