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Fixed deposit comparison

SBI Tax Savings Scheme Fixed Deposit vs ICICI Bank Tax Saver Fixed Deposit

Compare SBI Tax Savings Scheme Fixed Deposit and ICICI Bank Tax Saver 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

SBI Tax Savings Scheme Fixed Deposit vs ICICI Bank Tax Saver Fixed Deposit

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

Latest underlying reviewSeptember 10, 2026
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
ICICI BankICICI Bank Tax Saver Fixed Deposit

Eligible ICICI Bank customers who want a current five-year locked deposit with clear online opening and maturity rules and can accept taxable interest.

Cost / pricing
ICICI Bank’s current FD schedule effective 4 September 2026 places the 3-years-1-day-to-5-years bucket at 6.50% p.a. general and 7.10% p.a. senior citizen; the Tax Saver FD is fixed at exactly five years.
Reviewed
September 10, 2026
Evidence
3 bank sources
Open product research
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littleden.blog · Comparison research sheet

SBI Tax Savings Scheme Fixed Deposit vs ICICI Bank Tax Saver Fixed Deposit

Prepared 14 Sep 2026 · Source page: https://littleden.blog/compare-banking/sbi-tax-savings-scheme-fixed-deposit-vs-icici-tax-saver-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

Answer the questions that can actually change the choice.

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.

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.

ICICI Bank Tax Saver Fixed Deposit

Taxpayer / regime eligibility
Individuals and HUFs with valid PAN/KYC under ICICI’s current product terms; tax deduction eligibility depends on the applicable tax regime and law.
Qualifying amount / lock-in
Minimum ₹10,000 and thereafter in ₹100 multiples; maximum aggregate Tax Saver FD amount under one PAN is ₹1.5 lakh; fixed tenure of five years.
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.

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.

ICICI Bank Tax Saver Fixed Deposit

Current five-year rate evidence
ICICI Bank’s current FD schedule effective 4 September 2026 places the 3-years-1-day-to-5-years bucket at 6.50% p.a. general and 7.10% p.a. senior citizen; the Tax Saver FD is fixed at exactly five years.
03What happens if you need the money before maturity?Read the full liquidity and relationship conditions, including any recorded early-exit or payment restrictions.

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.

ICICI Bank Tax Saver Fixed Deposit

Preclosure / loan restriction
Premature withdrawal, loan/lien and overdraft against the Tax Saver FD are not permitted. ICICI also states the product cannot be auto-renewed; maturity proceeds return to the selected savings account.
Tax-law / maturity condition
The five-year lock and no-auto-renew maturity instruction are product-specific and distinguish this deposit from an ordinary callable ICICI FD.
Other maintained comparisons for SBI Tax Savings Scheme Fixed DepositOther maintained comparisons for ICICI Bank Tax Saver Fixed Deposit
Exact terms

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Banking product terms side by side for SBI Tax Savings Scheme Fixed Deposit and ICICI Bank Tax Saver Fixed Deposit
Decision factorSBI Tax Savings Scheme Fixed DepositICICI Bank Tax Saver Fixed Deposit
Current five-year rate evidenceSBI 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.ICICI Bank’s current FD schedule effective 4 September 2026 places the 3-years-1-day-to-5-years bucket at 6.50% p.a. general and 7.10% p.a. senior citizen; the Tax Saver FD is fixed at exactly five years.
Qualifying amount / lock-inMinimum ₹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.Minimum ₹10,000 and thereafter in ₹100 multiples; maximum aggregate Tax Saver FD amount under one PAN is ₹1.5 lakh; fixed tenure of five years.
Deduction context / payoutTerm 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.Cumulative or traditional non-cumulative deposit with monthly or quarterly interest payout. Qualifying principal may be deductible within the applicable aggregate statutory ceiling; interest is taxable/TDS-applicable.
Preclosure / loan restrictionThe 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.Premature withdrawal, loan/lien and overdraft against the Tax Saver FD are not permitted. ICICI also states the product cannot be auto-renewed; maturity proceeds return to the selected savings account.
Taxpayer / regime eligibilityEligible SBI depositors under current scheme/KYC and tax-law conditions; senior pricing is subject to the current resident senior-citizen term-deposit schedule.Individuals and HUFs with valid PAN/KYC under ICICI’s current product terms; tax deduction eligibility depends on the applicable tax regime and law.
Tax-law / maturity conditionRate is explicitly tied to SBI’s prevailing Public/Senior Citizen term-deposit rate; exact booking date and chosen scheme tenor remain controlling.The five-year lock and no-auto-renew maturity instruction are product-specific and distinguish this deposit from an ordinary callable ICICI FD.
Wrong-fit risks

Keep each product’s cautions beside the product.

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

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.
ICICI Bank

ICICI Bank Tax Saver 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.
  • 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.
  • ICICI’s product page still contains legacy Section 80C wording alongside current tax-regime guidance; current Income-tax Act 2025 numbering controls for Tax Year 2026-27 onward.
  • Interest is taxable even when principal qualifies for deduction.
Research tools

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Independent source state

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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.

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

ICICI Bank Tax Saver Fixed Deposit

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

  1. Issuer product pagehttps://www.icici.bank.in/personal-banking/deposits/fixed-deposit/tax-saver-fd
  2. Terms & conditionshttps://www.icici.bank.in/personal-banking/deposits/fixed-deposit/tax-saver-fd/terms-and-conditions
  3. Issuer product pagehttps://www.icici.bank.in/personal-banking/deposits/fixed-deposit/fd-interest-rates