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2nd December 2015, 02:08 PM
Super Moderator
 
Join Date: May 2012
Re: Corporation Bank TDS on FD

Hello, here I am providing you the TDS available in the FD of the Corporation Bank as under:

TDS on Interest Amount

TDS shall be deducted at applicable rate on entire interest amount once it crosses Rs.10, 000/- during the financial year

Tax Saving FD:

This scheme attracts those investors who want to invest for saving income tax. in this scheme, it is a compulsory lock-in of five years under this scheme, and fund cannot be withdrawn before completion of this period.

TDS limits for companies:

The TDS limits for companies deposit schemes are Rs 5000 only. It means if the interest earned from a company deposit exceeds Rs 5000, then the investors are liable for a TDS on interest.

How to save TDS on FD?

By Submitting Form 15G/15H
Distributing FD investment
Timing the FD
Splitting FD another way


Fixed deposit rates of the Corporation Bank:
Term Deposits [% per annum with effect from 21st November 2015]
Term Deposits (Other than NRE)

Maturity Band Less than Rs.1 Crore(applicable
For domestic, NRO and Capital Gains deposits)
7 to 14 days 5.5
15 to 45 days 6
46 to 60 days 6
61 to 90 days 6.25
91 to 120 days 7
121 to 180 days 7
181 to 270 days 7
271 days to less than 1 year 7
1 year only 7.25
Above 1 year to less than 2 years 7.25
2 years & above 7.25


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