This economic year is going to end in about 3 months. People are hunting for good deposit schemes to reduce the income. It is best to deposit the amount in the banks to minimize the income tax. If we deposit more than 5 years in banks, then according to section 80-C, we will get exemption for the amount of upto Rs.1,00,000. But this is applicable for the year, in which year we have deposited. We have to show this interest as income in further years. All the banks are offering the Tax Saving Deposits. Here some good and best bank deposit schemes to minimize the income tax.

State Bank of India :- Investment minimum atleast Rs. 1,000. Maximum Limit Rs. 1 Lakh, Time  Period Minimum 5 years, Maximum 10 years, Payment of Interest is after Maturity or once is 3 months period, Interest Rate:- 7.25%(if it is 8,10 years, more than 0.25%)

Bank of India :- Investment atleast minimum Rs.10,000. Maximum Limit Rs. 1 Lakh, Time  Period Maximum 5 years, Minimum 10 years, Payment of Interest is once or month to month or for 3 months period, Interest Rate:- 7%

Andhra Bank :- Investment atleast minimum Rs. 100. Maximum Limit Rs. 1 lakh, Time  Period Minimum 5 years, Minimum Nil, Payment of Interest is once, Month to Month or 3 months period, Interest Rate:- 7.5%.

ICICI Bank :- Investment atleast minimum Rs. 10,000. Maximum Limit Rs. 1 lakh, Time  Period Minimum 5 years, Maximum Nil, Payment of Interest is once, Month to Month or 3 months period, Interest Rate:- 7.75%.

Bank of Baroda :- Investment atleast minimum Rs. 100. Maximum Limit Rs. 1 lakh, Time  Period Minimum 5 years, Maximum 10 years, Payment of Interest is once, Month to Month or 3 months period, Interest Rate:- 7%.

HDFC Bank :- Investment atleast minimum Rs. 100. Maximum Limit Rs. 1 lakh, Time  Period Minimum 5 years, Maximum Nil, Payment of Interest is once or 3 months period, Interest Rate:- 7%.

Union Bank of India :- Investment atleast minimum Rs. 5000. Maximum Limit Rs. 1 lakh, Time  Period Minimum 5 years, Maximum 10 years, Payment of Interest is once or month to month or 3 months period, Interest Rate:- 6.75%.

Axis Bank :- Investment atleast minimum Rs. 100. Maximum Limit Rs. 1 lakh, Time  Period Minimum 5 years, Maximum Nil, Payment of Interest is once or month to month  or 3 months period, Interest Rate:- 7%.