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Fixed deposit comparison

HDFC Bank Five-Year Tax Saving Fixed Deposit vs SBI Tax Savings Scheme Fixed Deposit

Compare HDFC Bank Five-Year Tax Saving Fixed Deposit and SBI Tax Savings Scheme Fixed Deposit using the controlling cost, balance, rate, tenure, liquidity, limits, eligibility and current first-party bank evidence for this product type.

Fixed deposit comparison

HDFC Bank Five-Year Tax Saving Fixed Deposit vs SBI Tax Savings Scheme Fixed Deposit

Compare the two source-backed records without collapsing unlike conditions into a winner score.

Latest underlying reviewSeptember 10, 2026
HDFC BankHDFC Bank Five-Year Tax Saving Fixed Deposit

Eligible resident individuals or HUFs using a deduction-eligible tax regime who want a large-bank five-year locked deposit and can accept taxable interest plus no normal liquidity during the lock-in.

Cost / pricing
The product uses HDFC Bank’s prevailing five-year deposit rate. The current sub-₹3 crore schedule applicable from 19 August 2026 places the exact five-year bucket at 6.40% p.a. general and 6.90% p.a. for eligible resident senior citizens.
Reviewed
September 10, 2026
Evidence
3 bank sources
Open product research
State Bank of IndiaSBI Tax Savings Scheme Fixed Deposit

SBI customers who want a public-sector tax-saving deposit and are willing to verify the exact live five-year resident rate at booking rather than relying on an older cached rate.

Cost / pricing
SBI states that the applicable rate is the prevailing Term Deposit rate for Public/Senior Citizens. The engine leaves the exact five-year numeric anchor refresh-gated because the current first-party rate page did not expose a safely attributable tax-saver five-year row in this review.
Reviewed
September 10, 2026
Evidence
2 bank sources
Open product research
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littleden.blog · Comparison research sheet

HDFC Bank Five-Year Tax Saving Fixed Deposit vs SBI Tax Savings Scheme Fixed Deposit

Prepared 14 Sep 2026 · Source page: https://littleden.blog/compare-banking/hdfc-five-year-tax-saving-fixed-deposit-vs-sbi-tax-savings-scheme-fixed-deposit/

General product research only. Recheck the listed first-party sources before acting because product terms can change after the recorded review dates.

Decision checkpoints

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Each checkpoint reproduces the recorded product fields instead of assigning a winner. Read the condition, scope and missing-data state before treating a difference as useful to you.

01Are you comparing the same customer, amount and tenure?Start with the eligible customer or relationship and any balance, funding or tenure requirement.

HDFC Bank Five-Year Tax Saving Fixed Deposit

Taxpayer / regime eligibility
Resident individuals and HUFs under current HDFC Bank product/KYC rules; in a joint deposit, the deduction is attached to the first holder subject to tax law.
Qualifying amount / lock-in
Minimum ₹5,000 and thereafter in ₹100 multiples; maximum qualifying tax-saving deposit ₹1.5 lakh in a financial year; mandatory five-year lock-in.

SBI Tax Savings Scheme Fixed Deposit

Taxpayer / regime eligibility
Eligible SBI depositors under current scheme/KYC and tax-law conditions; senior pricing is subject to the current resident senior-citizen term-deposit schedule.
Qualifying amount / lock-in
Minimum ₹1,000 and thereafter in ₹100 multiples; maximum ₹1.5 lakh per financial year for the tax-saving scheme. SBI publishes a minimum five-year and maximum ten-year scheme period.
02Which dated rate schedule applies to that deposit?Match the customer category, currency, amount, tenure and effective date before comparing quoted rates. No return is calculated here.

HDFC Bank Five-Year Tax Saving Fixed Deposit

Current five-year rate evidence
The product uses HDFC Bank’s prevailing five-year deposit rate. The current sub-₹3 crore schedule applicable from 19 August 2026 places the exact five-year bucket at 6.40% p.a. general and 6.90% p.a. for eligible resident senior citizens.

SBI Tax Savings Scheme Fixed Deposit

Current five-year rate evidence
SBI states that the applicable rate is the prevailing Term Deposit rate for Public/Senior Citizens. The engine leaves the exact five-year numeric anchor refresh-gated because the current first-party rate page did not expose a safely attributable tax-saver five-year row in this review.
03What happens if you need the money before maturity?Read the full liquidity and relationship conditions, including any recorded early-exit or payment restrictions.

HDFC Bank Five-Year Tax Saving Fixed Deposit

Preclosure / loan restriction
Normal premature withdrawal/partial liquidity and loan-style access should not be assumed during the five-year tax-saver lock; death-related settlement follows the bank’s applicable process.
Tax-law / maturity condition
A tax-saving FD is a locked tax-law product, not an ordinary callable five-year FD. The prevailing five-year rate at booking controls; monthly payout can use a discounted payout rate.

SBI Tax Savings Scheme Fixed Deposit

Preclosure / loan restriction
The tax-saving lock-in is at least five years. Do not treat this as an ordinary callable SBI term deposit or infer a current five-year rate from a promotional maximum.
Tax-law / maturity condition
Rate is explicitly tied to SBI’s prevailing Public/Senior Citizen term-deposit rate; exact booking date and chosen scheme tenor remain controlling.
Other maintained comparisons for HDFC Bank Five-Year Tax Saving Fixed DepositOther maintained comparisons for SBI Tax Savings Scheme Fixed Deposit
Exact terms

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Banking product terms side by side for HDFC Bank Five-Year Tax Saving Fixed Deposit and SBI Tax Savings Scheme Fixed Deposit
Decision factorHDFC Bank Five-Year Tax Saving Fixed DepositSBI Tax Savings Scheme Fixed Deposit
Current five-year rate evidenceThe product uses HDFC Bank’s prevailing five-year deposit rate. The current sub-₹3 crore schedule applicable from 19 August 2026 places the exact five-year bucket at 6.40% p.a. general and 6.90% p.a. for eligible resident senior citizens.SBI states that the applicable rate is the prevailing Term Deposit rate for Public/Senior Citizens. The engine leaves the exact five-year numeric anchor refresh-gated because the current first-party rate page did not expose a safely attributable tax-saver five-year row in this review.
Qualifying amount / lock-inMinimum ₹5,000 and thereafter in ₹100 multiples; maximum qualifying tax-saving deposit ₹1.5 lakh in a financial year; mandatory five-year lock-in.Minimum ₹1,000 and thereafter in ₹100 multiples; maximum ₹1.5 lakh per financial year for the tax-saving scheme. SBI publishes a minimum five-year and maximum ten-year scheme period.
Deduction context / payoutEligible deposit principal may qualify within the aggregate Section 123 / Schedule XV deduction framework; monthly or quarterly payout can be selected, while reinvestment compounds quarterly. Interest itself remains taxable.Term Deposit or Special Term Deposit payout mechanics follow SBI’s applicable deposit terms; qualifying principal can fall within the current aggregate tax-saving deduction framework, while interest remains subject to tax/TDS rules.
Preclosure / loan restrictionNormal premature withdrawal/partial liquidity and loan-style access should not be assumed during the five-year tax-saver lock; death-related settlement follows the bank’s applicable process.The tax-saving lock-in is at least five years. Do not treat this as an ordinary callable SBI term deposit or infer a current five-year rate from a promotional maximum.
Taxpayer / regime eligibilityResident individuals and HUFs under current HDFC Bank product/KYC rules; in a joint deposit, the deduction is attached to the first holder subject to tax law.Eligible SBI depositors under current scheme/KYC and tax-law conditions; senior pricing is subject to the current resident senior-citizen term-deposit schedule.
Tax-law / maturity conditionA tax-saving FD is a locked tax-law product, not an ordinary callable five-year FD. The prevailing five-year rate at booking controls; monthly payout can use a discounted payout rate.Rate is explicitly tied to SBI’s prevailing Public/Senior Citizen term-deposit rate; exact booking date and chosen scheme tenor remain controlling.
Wrong-fit risks

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A useful comparison shows what can make either option unsuitable instead of averaging those conditions into a score.

HDFC Bank

HDFC Bank Five-Year Tax Saving Fixed Deposit

  • The deduction is part of the aggregate ₹1.5 lakh Section 123 / Schedule XV framework and is not available under the new concessional tax regime under Section 202; individual tax circumstances can differ.
  • The deposit deduction and the taxation of FD interest are separate: interest can be taxable/TDS-applicable.
  • From 1 April 2026, current tax-year references should use Section 123 read with Schedule XV of the Income-tax Act, 2025; some bank product copy still uses the legacy Section 80C label.
  • A current regular five-year rate should not be confused with HDFC’s 5-years-1-day-to-10-years bucket.
State Bank of India

SBI Tax Savings Scheme Fixed Deposit

  • The deduction is part of the aggregate ₹1.5 lakh Section 123 / Schedule XV framework and is not available under the new concessional tax regime under Section 202; individual tax circumstances can differ.
  • The current exact five-year numeric rate is intentionally refresh-gated instead of copied from older SBI schedules.
  • From 1 April 2026, current tax-year references should use Section 123 read with Schedule XV of the Income-tax Act, 2025; some bank product copy still uses the legacy Section 80C label.
  • Interest on the deposit is not made tax-free merely because the principal is a qualifying tax-saving instrument.
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First-party source appendix

These are the exact source URLs already attached to the two research records. Re-open the controlling documents before relying on a fee, rate, limit, eligibility rule or benefit.

HDFC Bank Five-Year Tax Saving Fixed Deposit

Reviewed September 10, 2026 · 3 attached first-party sources

  1. Issuer product pagehttps://www.hdfc.bank.in/fixed-deposit/five-year-tax-saving-fixed-deposit
  2. Fee / charge schedulehttps://www.hdfc.bank.in/fixed-deposit/five-year-tax-saving-fixed-deposit/fees-and-charges
  3. Issuer product pagehttps://www.hdfc.bank.in/fixed-deposit/fd-interest-rate

SBI Tax Savings Scheme Fixed Deposit

Reviewed September 10, 2026 · 2 attached first-party sources

  1. Issuer product pagehttps://sbi.bank.in/web/yono/tax-saver-fixed-deposit?inheritRedirect=true
  2. Issuer product pagehttps://sbi.bank.in/web/interest-rates/deposit-rates/retail-domestic-term-deposits