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Fixed deposit comparison

Axis Bank Tax Saver Fixed Deposit vs Canara Bank Tax Saver Scheme

Compare Axis Bank Tax Saver Fixed Deposit and Canara Bank Tax Saver Scheme using the controlling cost, balance, rate, tenure, liquidity, limits, eligibility and current first-party bank evidence for this product type.

Fixed deposit comparison

Axis Bank Tax Saver Fixed Deposit vs Canara Bank Tax Saver Scheme

Compare the two source-backed records without collapsing unlike conditions into a winner score.

Latest underlying reviewSeptember 10, 2026
Axis BankAxis Bank Tax Saver Fixed Deposit

Eligible individuals/HUFs who want a tax-saver whose bank page already reflects the 2026 tax-law numbering and who can accept a five-year no-preclosure lock.

Cost / pricing
Axis publishes its domestic FD schedule effective 8 September 2026, but the parsed current first-party table in this review did not expose a safely attributable exact five-year row. The product’s live booking rate therefore remains refresh-gated instead of inferred.
Reviewed
September 10, 2026
Evidence
2 bank sources
Open product research
Canara BankCanara Bank Tax Saver Scheme

Eligible public-sector-bank depositors who want a low minimum tax-saving FD and value a clearly documented death exception and payout-mode choices.

Cost / pricing
Canara’s domestic callable schedule below ₹3 crore is effective 17 March 2026; the five-years-to-ten-years rate is 6.25% p.a. general and 6.75% p.a. for eligible resident senior citizens.
Reviewed
September 10, 2026
Evidence
2 bank sources
Open product research
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bankingreference.info · Comparison research sheet

Axis Bank Tax Saver Fixed Deposit vs Canara Bank Tax Saver Scheme

Prepared 14 Sep 2026 · Source page: https://bankingreference.info/compare-banking/axis-tax-saver-fixed-deposit-vs-canara-tax-saver-scheme/

General product research only. Recheck the listed first-party sources before acting because product terms can change after the recorded review dates.

Decision checkpoints

Answer the questions that can actually change the choice.

Each checkpoint reproduces the recorded product fields instead of assigning a winner. Read the condition, scope and missing-data state before treating a difference as useful to you.

01Are you comparing the same customer, amount and tenure?Start with the eligible customer or relationship and any balance, funding or tenure requirement.

Axis Bank Tax Saver Fixed Deposit

Taxpayer / regime eligibility
Individuals and HUFs under current Axis product/KYC requirements; first-holder rules apply to joint tax-benefit claims.
Qualifying amount / lock-in
Minimum ₹100 or multiples thereof; maximum ₹1.5 lakh; fixed five-year tax-saver maturity.

Canara Bank Tax Saver Scheme

Taxpayer / regime eligibility
Individuals, Karta of HUF and permitted joint formats under current Canara terms; tax deduction in a joint deposit is attached to the first holder subject to current law/regime.
Qualifying amount / lock-in
Minimum ₹100 in ₹100 multiples; maximum ₹1.5 lakh per person; fixed five-year tax-saver period.
02Which dated rate schedule applies to that deposit?Match the customer category, currency, amount, tenure and effective date before comparing quoted rates. No return is calculated here.

Axis Bank Tax Saver Fixed Deposit

Current five-year rate evidence
Axis publishes its domestic FD schedule effective 8 September 2026, but the parsed current first-party table in this review did not expose a safely attributable exact five-year row. The product’s live booking rate therefore remains refresh-gated instead of inferred.

Canara Bank Tax Saver Scheme

Current five-year rate evidence
Canara’s domestic callable schedule below ₹3 crore is effective 17 March 2026; the five-years-to-ten-years rate is 6.25% p.a. general and 6.75% p.a. for eligible resident senior citizens.
03What happens if you need the money before maturity?Read the full liquidity and relationship conditions, including any recorded early-exit or payment restrictions.

Axis Bank Tax Saver Fixed Deposit

Preclosure / loan restriction
Premature closure is not permitted during the five-year lock; bank support documents a death-related exception process separately.
Tax-law / maturity condition
This is a five-year statutory tax-saver and is kept separate from ordinary callable Axis FDs and Fixed Deposit Plus structures.

Canara Bank Tax Saver Scheme

Preclosure / loan restriction
Cannot be pledged as collateral and cannot normally be closed prematurely; Canara explicitly states an exception in the event of the depositor’s death.
Tax-law / maturity condition
This tax-saver is held apart from Canara’s ordinary callable and non-callable rate structures even when its five-year rate is sourced from the current domestic schedule.
Other maintained comparisons for Axis Bank Tax Saver Fixed DepositOther maintained comparisons for Canara Bank Tax Saver Scheme
Exact terms

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Banking product terms side by side for Axis Bank Tax Saver Fixed Deposit and Canara Bank Tax Saver Scheme
Decision factorAxis Bank Tax Saver Fixed DepositCanara Bank Tax Saver Scheme
Current five-year rate evidenceAxis publishes its domestic FD schedule effective 8 September 2026, but the parsed current first-party table in this review did not expose a safely attributable exact five-year row. The product’s live booking rate therefore remains refresh-gated instead of inferred.Canara’s domestic callable schedule below ₹3 crore is effective 17 March 2026; the five-years-to-ten-years rate is 6.25% p.a. general and 6.75% p.a. for eligible resident senior citizens.
Qualifying amount / lock-inMinimum ₹100 or multiples thereof; maximum ₹1.5 lakh; fixed five-year tax-saver maturity.Minimum ₹100 in ₹100 multiples; maximum ₹1.5 lakh per person; fixed five-year tax-saver period.
Deduction context / payoutReinvestment, quarterly payout or monthly payout choices. Axis explicitly frames the qualifying deduction under Section 123 read with Schedule XV; interest remains taxable and subject to current TDS rules.Monthly discounted or quarterly payout under the Fixed Deposit stream, or quarterly compounding under Kamadhenu. Qualifying principal can fall within the aggregate statutory deduction ceiling; interest remains taxable/TDS-applicable.
Preclosure / loan restrictionPremature closure is not permitted during the five-year lock; bank support documents a death-related exception process separately.Cannot be pledged as collateral and cannot normally be closed prematurely; Canara explicitly states an exception in the event of the depositor’s death.
Taxpayer / regime eligibilityIndividuals and HUFs under current Axis product/KYC requirements; first-holder rules apply to joint tax-benefit claims.Individuals, Karta of HUF and permitted joint formats under current Canara terms; tax deduction in a joint deposit is attached to the first holder subject to current law/regime.
Tax-law / maturity conditionThis is a five-year statutory tax-saver and is kept separate from ordinary callable Axis FDs and Fixed Deposit Plus structures.This tax-saver is held apart from Canara’s ordinary callable and non-callable rate structures even when its five-year rate is sourced from the current domestic schedule.
Wrong-fit risks

Keep each product’s cautions beside the product.

A useful comparison shows what can make either option unsuitable instead of averaging those conditions into a score.

Axis Bank

Axis Bank Tax Saver Fixed Deposit

  • The deduction is part of the aggregate ₹1.5 lakh Section 123 / Schedule XV framework and is not available under the new concessional tax regime under Section 202; individual tax circumstances can differ.
  • Exact five-year rate remains refresh-gated even though the broader Axis domestic rate schedule is current as of 8 September 2026.
  • The bank’s calculator display should not be treated as a controlling product quote.
  • Interest remains taxable/TDS-applicable.
Canara Bank

Canara Bank Tax Saver Scheme

  • The deduction is part of the aggregate ₹1.5 lakh Section 123 / Schedule XV framework and is not available under the new concessional tax regime under Section 202; individual tax circumstances can differ.
  • From 1 April 2026, current tax-year references should use Section 123 read with Schedule XV of the Income-tax Act, 2025; some bank product copy still uses the legacy Section 80C label.
  • The death exception is not ordinary liquidity and should not be presented as a normal premature-withdrawal option.
  • Interest is taxable/TDS-applicable even though the qualifying principal can support a deduction.
Research tools

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Independent source state

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MethodologyResearch statusMore banking comparisons

First-party source appendix

These are the exact source URLs already attached to the two research records. Re-open the controlling documents before relying on a fee, rate, limit, eligibility rule or benefit.

Axis Bank Tax Saver Fixed Deposit

Reviewed September 10, 2026 · 2 attached first-party sources

  1. Issuer product pagehttps://www.axis.bank.in/deposits/tax-saver-fixed-deposit
  2. Issuer product pagehttps://www.axis.bank.in/deposits/fixed-deposits/fd-interest-rates

Canara Bank Tax Saver Scheme

Reviewed September 10, 2026 · 2 attached first-party sources

  1. Issuer product pagehttps://www.canarabank.bank.in/canara-tax-saver-scheme
  2. Issuer product pagehttps://www.canarabank.bank.in/term-deposits-rate-of-interest-p.a.