As far as tax saving is concerned, Karur Vysya bank is best as it offers dual use financial products which offer tax saving opportunities too.
This section allows the taxpayers to increase the limit of income exempted from taxes by a maximum of Rupees 1.5 lakhs. Following are some products from Karur Vysya Bank (KVB) which offer tax benefits:
Unlike most of the tax saving investment vehicles which carry a long period of investment, KYB offers a fixed deposit scheme which qualifies for tax saving under section 80C with a fixed lock in tenure of just 5 years. As far as tax saving vehicles is concerned, the investment period is around 10 to 15 years, whereas KVB offers it in 5 years too.
Mainly the health insurance products lie under this category for tax saving purposes and KVB along with Bajaj Allianz offer certain products for this purpose:
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