Whether a bank deducts TDS on a senior citizen’s FD interest under the ₹1 lakh limit
Estimates only, not financial advice. What you type stays on your device. Checked against sources on 30 Oct 2026.A bank deducts no TDS from a senior citizen’s deposit interest until the year’s interest at that bank passes ₹1,00,000, the limit in force since 1 April 2025. Above it, 10% comes off the whole interest, not just the part over the limit. Enter your deposit, rate and any other deposits at the same bank to see each year’s TDS, and the largest deposit that stays under the limit.
₹0
No year crosses the ₹1,00,000 limitAn estimate. Treats each deposit year as one tax year; not tax advice.
| Year | Interest | Total at this bank | TDS | You keep |
|---|---|---|---|---|
| 1 | ₹71,859 | ₹71,859 | ₹0 | ₹71,859 |
| 2 | ₹77,023 | ₹77,023 | ₹0 | ₹77,023 |
| 3 | ₹82,557 | ₹82,557 | ₹0 | ₹82,557 |
TDS applies when the total at this bank is above ₹1,00,000, and then on the whole of the interest. Maturity before TDS: ₹12,31,439.
FY 2026-27 · Rates and rules read from the sources listed on this page (the earliest on 30 Oct 2026); they may have changed since.
The page opens with "Aged 60 or more" on, so the higher senior citizen limit applies.
Enter the Deposit amount, rate, Tenure and any interest from other deposits at the same bank.
Turn on "Form 121 given to the bank" only if the tax on your estimated income for the year is nil.
Read the Yearly limit at this bank, the TDS and Interest after TDS, and open Year by year.
A bank must deduct income-tax at source from the interest it pays on deposits once that interest crosses a yearly limit. This calculator works out the interest your fixed deposit earns in each year, adds the interest from your other deposits at the same bank, and shows whether TDS applies, how much, and what reaches you.
The limits. Under section 393(1) of the Income-tax Act, 2025, a bank deducts tax when a year's interest exceeds ₹50,000, or ₹1,00,000 for a resident aged 60 or more. These limits rose from ₹40,000 and ₹50,000 on 1 April 2025. Above the limit, tax is deducted on the entire interest, not only on the part above it. With core banking the limit counts every branch of the bank together, so two deposits in different branches add up.
This page does not work out your income-tax, does not model a deposit that starts mid-year, and assumes each deposit year is one tax year. The interest uses the same method as the FD Calculator, and the rate you enter should include any senior citizen extra your bank pays.
The rest of the article, and all 6 questions about FD TDS Calculator, are on the FD TDS Calculator page.
Banks deduct TDS once the interest you earn at that bank in a tax year exceeds ₹50,000, or ₹1,00,000 if you are 60 or older. These limits apply from 1 April 2025 and are in section 393(1) of the Income-tax Act, 2025. The limit counts all your deposits at the same bank together.
Ten percent of the interest for a resident individual who has given the bank a PAN, and 20% without a PAN. Once the year's interest crosses the limit, the bank deducts on the whole interest, not only the part above the limit. On ₹71,859 of interest, TDS is ₹7,186.
From 1 April 2026, Forms 15G and 15H were replaced by a single Form 121 under the Income-tax Rules, 2026. Giving the bank Form 121 stops TDS when the tax on your estimated total income for the year is nil. Below 60, the form is not valid once such income passes the basic exemption limit.
Yes. Banks deduct TDS each year on the interest that accrues, even when a cumulative deposit pays nothing until maturity. The bank usually recovers it from the deposit or a linked savings account, which lowers the maturity amount a little. This calculator shows the TDS for each year of the deposit.
Rates and rules change; check the source before you rely on a figure.
Still stuck? Ask about FD TDS Calculator and anybody who knows can answer. No account needed.
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