« Top Headlines » Open DEMAT Account in 24 hrs  ITR Filing 2025: These individuals are exempt from paying tax. Do they need to file returns?  Full List Of Trump's Reciprocal Tariffs Announced Wednesday  Top 5 tax-saving investment options for salaried individuals to consider before March 31, 2025  5 lesser lesser-known avenues of tax saving you can use to save income tax before March 31, 2025  March 15 is deadline for last advance tax installment: Know if you must pay «  Finmin, MCA differ on taxation policy for LLPs... ICFAI to start pvt varsities across India... » SBT unveils tax saver term deposit scheme August, 17th 2006 The State Bank of Travancore (SBT) has unveiled a new deposit scheme, "SBT Tax Saver Term Deposit Scheme", with effect from August 16. As per the scheme, a depositor can claim income tax exemption up to a maximum of Rs 1 lakh under section 80C of the Income Tax Act in a financial year. The deposit has to be made for a period of 5 years and will earn interest at 8 per cent per annum. The annualised return from the deposit will be 9.72 per cent. The SBT tax saver term deposit can be opened in a single name or jointly with another individual including a minor, either as a simple or a cumulative term deposit, according to the bank. Being a tax saver scheme, the depositor's PAN has to be quoted while opening the deposit. The bank added that premature withdrawal or loans were not permitted under the scheme.