Bank Details for 80C: Where to Send Tax-Saving Investments in India

When you invest under Section 80C, a tax deduction provision in India that lets you reduce your taxable income by up to ₹1.5 lakh per year. Also known as tax-saving investments, it covers everything from fixed deposits to mutual funds and pension plans. But knowing what qualifies isn’t enough—you also need to know where to send your money. Many people miss out on their full deduction because they send funds to the wrong bank account or forget to mention their PAN. This isn’t just paperwork—it’s your money on the line.

Every ELSS fund, a type of equity mutual fund with a mandatory 3-year lock-in that offers tax benefits under Section 80C has its own bank account for SIPs and lump-sum payments. The same goes for PPF accounts, a government-backed savings scheme with fixed returns and tax-free growth. You can’t just deposit cash at any branch. You need the correct IFSC, account number, and your name as it appears on your PAN card. For employer-based deductions like EPF or NPS, your HR department handles the transfer—but you still need to confirm the details are accurate. A mismatched name or wrong account can delay your tax proof, and that means missing your deadline.

Some banks and fund houses have separate accounts for direct plans versus regular plans. If you’re investing through a distributor, make sure the payment goes to their authorized collection account—not a personal one. Always check the official website of the fund house or bank before making a payment. Don’t rely on old emails or WhatsApp messages. The NPS account, a retirement scheme managed by the PFRDA that allows you to choose your investment mix requires payments to the CRA’s designated bank, and errors there can lock your contributions for weeks.

You’ll find bank details for these investments in your application form, on the fund’s official portal, or in the welcome email after you register. Keep a printed copy or screenshot handy. If you’re paying via NEFT or RTGS, always use the payee name exactly as registered. Add your PAN and investor ID in the remarks section. No one will chase you if you mess this up—you’ll just lose your tax benefit for the year.

There’s no one-size-fits-all bank account for all 80C investments. Each product has its own rules, its own bank, and its own process. The good news? Once you set it up right once, you can automate it. SIPs in ELSS, monthly PPF deposits, employer deductions—all of these become easy once the initial bank details are confirmed. The next time you think about saving tax, don’t just pick a fund. Pick the right account to send the money to. Because in tax saving, the details matter more than the amount.

Below, you’ll find real guides that walk you through how to choose the right 80C instruments, how to avoid common mistakes with ELSS and PPF, and how to structure your investments so you never miss a deadline or a deduction. These aren’t theory pieces—they’re practical checklists from people who’ve been through it.