https://www.hdfcbank.com/personal/save/deposits/fixed-deposit/five-year-tax-saving-fixed-deposit

Features

Minimum Amount – Rs. 100 & in Multiples of Rs. 100
Maximum amount – Rs. 1.5 Lakhs (in a FY)
Tenure – 5 Years (Lock In)
Can be booked with Monthly and quarterly payout
In the case of joint deposits, the Tax benefit under 80 c will be available only to the first holder of the deposit

Tax Deductions For Re-investment Fixed Deposits

The following will be applicable for a Regular Fixed Deposit

TDS will be deducted when interest payable or reinvested on RD and FD per customer across all branches, exceeds Rs.40,000/- (Rs. 50,000/- for senior citizens) in a financial year.
TDS Certificate will be mailed to you after the end of every quarter during the financial year providing the details of TDS deducted during the quarter.

W.e.f Aug 09, applicable TDS rates(if applicable) are as follows:

w.e.f 14th May 2020 till 31st March 2021, the TDS rate is reduced from 10% to 7.5% on resident deposits.

****	Tax Rate	Surcharge	Education Cess	TOTAL
Resident Individuals & HUF	10%	----	----	10%
Corporate Entity	10%	----	----	10%
Firms	10%	----	----	10%
Co-operative Societies & Local Authority	10%	----	----	10%

As per section 206AA introduced by finance (No.2) Act, 2009 wef 01.4.2010, every person who receives income on which TDS is deductible shall furnish his pan, failing which TDS shall be deducted at the rate of 20% as against the existing TDS rate.

TDS rate is applicable from time to time as per the IT Act, 1961 and IT rules. Today, TDS is recovered when interest payable or reinvested on FD & RD per customer, across all Branches, exceeds Rs 40,000/- (Rs. 50,000/- for senior citizens) in a Financial Year. Further, TDS is recovered at the end of the financial year on Interest accruals if applicable.

If the interest amount is insufficient to recover TDS, the same may be recovered from the principal amount of the Fixed Deposit. If a customer wishes to have TDS recovered from CASA, the same can be availed by filling a separate declaration at the branch.
For renewed deposits, the new deposit amount consists of the original deposit amount plus Interest less TDS, if any, less compounding effect on TDS. For reinvestment deposits, the interest reinvested is post-TDS recovery and "hence the maturity amount for reinvestment deposits would vary to the extent of tax and compounding effect on tax for the period subsequent of deduction till maturity.
As Per Section 139A(5A) of the IT Act, every person receiving any sum of income or amount from which tax has been deducted under the provisions of the IT Act shall provide his PAN to the person responsible for deducting such tax. In case PAN is not provided as required, the bank shall not be liable for the non-availment of the credit of Tax deducted at the Source

and non-issuance of a TDS certificate.
If your PAN is not updated with the Bank or is incorrect; please visit your nearest branch to submit your PAN details.