Fixed deposits are a reliable way to grow your savings—but did you know that non-filers pay significantly more tax on their profits compared to filers?
When you’re listed as an Active Taxpayer (Filer), you benefit from lower withholding tax on the profit you earn from fixed deposits in banks, National Savings Schemes, or other financial institutions.
Tax on Fixed Deposit Profit
| Source of Profit | Filer | Non-Filer |
|---|---|---|
| Fixed Deposit Profit (Banks or Institutions) | 10% | 17.5% (Over Rs. 500,000) |
| National Savings / Post Office Schemes | 10% | 17.5% (Over Rs. 500,000) |
| Profit on Debt Instruments (Bonds, etc.) | 10% | 17.5% (Over Rs. 500,000) |
Why Filers Save More
- More returns on your savings
- Less deduction at source by banks
- No hidden taxes on eligible income
By simply becoming a filer, you keep more of your hard-earned money. Whether you’re planning for a home, education, or future investment—every rupee saved in taxes matters.
Start Saving Smarter
If you have Rs. 500,000+ in fixed deposits or savings, switching to filer status can instantly boost your profit margins by reducing your tax by up to 7.5%.