The money invested in a tax-saver bank FD is eligible for a deduction of up to Rs 1.5 lakh under Section 80C of the Income Tax Act, 1961 and subject to a lock-in period of 5 years.
You can book a 5-year tax saver FD with a minimum amount of Rs 100 and in multiples thereof but to subject to a maximum
of Rs 1.5 lakh.
On the other hand, a regular bank FD is not subject to a lock-in period and does not qualify for a deduction under Section 80C of the Income-Tax Act, 1961. The minimum investment amount in case of a regular
bank FD is Rs 5,000.