Tax planning should always be a part of your financial planning, not a task to be completed at the end of the financial year. If you have not started your tax planning, do it now. Invest wisely keeping your financial goals in mind. After the Reserve Bank of India (RBI) increased the repo rate five times in a row in 2022, many banks have increased the interest rates on tax saving FDs. Small banks are offering rates up to 7.60 percent on such FDs.