In-depth, compliance-backed research on Section 80TTB tax exemptions, DICGC ₹5 Lakh statutory deposit safety, Form 15H TDS avoidance, and RBI sovereign floating rate bonds. Written by CFP® and CFA charterholders.
Under Section 80TTB of the Indian Income Tax Act, senior citizens aged 60 and above can claim up to ₹50,000 in interest deductions across savings accounts and fixed deposits every financial year.
CFP®, CFA • Chief Fixed Income Strategist
The Deposit Insurance and Credit Guarantee Corporation (DICGC), an RBI subsidiary, insures bank deposits up to ₹5,00,000 per depositor per bank across principal and interest.
RBI Floating Rate Savings Bonds offer an attractive 8.05% interest rate backed by the sovereign guarantee of the Government of India, with interest pegged 35 bps above the National Savings Certificate.
Corporate and NBFC Fixed Deposits offer yields up to 9.25% p.a. Understanding credit ratings from CRISIL, ICRA, and CARE is essential before investing, as corporate deposits do not carry DICGC insurance.
Form 15G and Form 15H are self-declaration forms submitted under Section 197A of the Income Tax Act to request that banks do not deduct 10% TDS on your interest income.
Test Section 80TTB tax savings on your real fixed deposit portfolio, simulate monthly retirement cashflows, or compare scheduled bank rates side-by-side.