Mainly the health insurance products lie under this category for tax saving purposes and KVB along with Bajaj Allianz offer certain products for this purpose: As far as tax saving vehicles is concerned, the investment period is around 10 to 15 years, whereas KVB offers it in 5 years too. Unlike most of the tax saving investment vehicles which carry a long period of investment, KYB offers a fixed deposit scheme which qualifies for tax saving under section 80C with a fixed lock in tenure of just 5 years. Following are some products from Karur Vysya Bank (KVB) which offer tax benefits: KVB's Tax Shield FD scheme: This section allows the taxpayers to increase the limit of income exempted from taxes by a maximum of Rupees 1.5 lakhs. As far as tax saving is concerned, Karur Vysya bank is best as it offers dual use financial products which offer tax saving opportunities too.
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