Question

Difference between fixed deposit and tax saver deposit

Answer 1

Answer:

1) Normal FD can be opened for a minimum of 7 days to a maximum of 10 years. While the tax saving FD has a lock-in period of 5 years.

2) Normal FD doesn't allow you any tax benefits where's a tax-savings FD will enable you to have tax deductions under section 80C.

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Answer 2

Answer:

deposit of money on lum sum for a long period of time is FD

and TSD is amount of money saved as a deposit by accesment of a part of tax.