Labs›Post-Tax Safe Money

Post-Tax Safe Money Comparer

FD vs Debt MF vs T-Bills vs PPF — which actually keeps more in your pocket after tax?

⚠Analysis tool — not investment advice. Results are estimates for educational purposes only and do not constitute a recommendation to buy, sell, or hold any security. Past performance is not indicative of future results. For personalised advice, consult a SEBI-registered investment advisor.

Who this is for

Anyone deciding where to park their emergency fund, short-term savings, or debt allocation. The gross rate banks advertise is not what you earn — your tax bracket changes the ranking dramatically.

T-bill / Liquid Fund

91-day Treasury Bills are short-term government debt instruments. Liquid funds invest in them. They're as safe as FDs but taxed differently — gains are at your slab rate.

Debt Mutual Fund

Invests in bonds, corporate debt, and government securities. Returns are market-linked (not guaranteed). Since Apr 2023, gains are taxed at slab rate regardless of holding period.

PPF / EPF

Public Provident Fund and Employee Provident Fund. Contributions get 80C deduction, interest is tax-free, and maturity is tax-free. The trifecta — but locked up for years.

Your Situation

Income tax slab

Your marginal rate: 0%, 5%, 10%, 20%, or 30%

Expected inflation

Holding period

Current Rates (adjust to today)

Bank FD rate

SBI/HDFC 1–3yr: 6.5–7.25%

91d T-bill / Liquid Fund

Recent T-bill yield: ~6.8–7%

Debt MF (short duration)

Short duration YTM avg: ~7.2–7.8%

PPF rate

Govt announces quarterly. Currently 7.1%

EPF / VPF rate

EPFO declared 8.25% for FY24

RBI Floating Bond

Currently 8.05% (NSC + 0.35%)

Best post-tax return (3yr hold)

VPF / EPF

8.00% after-tax

Real return: 1.89%

Ranked by post-tax return

1. VPF / EPF

8.25% gross8.00%

real: 1.89%

2. PPF (EEE)

7.10% gross7.10%

real: 1.04%

3. RBI Floating Rate Bond (8.05%)

8.05% gross5.63%

real: -0.34%

4. Debt Mutual Fund (>3 yr)

7.50% gross5.25%

real: -0.71%

5. Bank FD

7.25% gross5.07%

real: -0.87%

6. 91-day T-bill / Liquid Fund

6.90% gross4.83%

real: -1.10%

Assumptions: 30% slab · 6% inflation · 3yr hold. PPF and EPF are partially or fully tax-exempt (EEE/EET).

₹10L invested — gain after 3 yrs

VPF / EPF₹2,59,799

PPF (EEE)₹2,28,481

RBI Floating Rate Bond (8.05%)₹1,78,755

Debt Mutual Fund (>3 yr)₹1,65,913

Bank FD₹1,60,107

91-day T-bill / Liquid Fund₹1,52,011

Net gain on ₹10,00,000 after 3 years, after tax.