Canara Bank launches Can-Tax Saver Deposit

Bangalore, Sep 4 (UNI) Public Sector Canara Bank today announced launch of Can-Tax Saver Deposit scheme, in line with the Union Government's aim of providing the public with yet another avenue of tax saving.

Besides higher return on the deposit, under Can-Tax Saver Deposit Scheme, the customer can get benefits of deduction from income upto Rs One lakh under Section 80C Income Tax Act.

Under the new scheme eight per cent interest was offered on Fixed Deposit or Reinvestment plan (Kamadhenu deposits) with monthly (discounted) or quarterly interest payment on FD and Quarterly compound interest on maturity. Minimum deposit under the scheme is Rs 100 and in multiples of Rs 100 thereafter.

UNI MSP RKN1651