Senior citizen FD calculator
The extra rate for people over 60, and the higher TDS limit that comes with it.
Record this deposit once and the app does the rest: reminded before it matures, told the day TDS starts at that bank, and the rules of the product explained with your own numbers. Free, and your deposits stay on your phone.
Get it on Google PlayQuestions people ask
How much extra do senior citizens get?
It varies by bank and by tenure, usually 0.25% to 0.75%. Seven of the ten largest banks use something other than a flat 0.50%, so check the bank's own card.
What is the TDS limit for senior citizens?
₹1,00,000 of interest per bank per year, against ₹50,000 for everyone else.
Is SCSS better than a senior FD?
SCSS usually pays more and is government backed, but it caps at ₹30 lakh, pays quarterly rather than compounding, and runs for five years.
Can I avoid TDS if I owe no tax?
Form 15H at each bank, once a year, stops the deduction. It has to be given at every bank separately.
Is FD interest taxable?
Yes, in full, at your slab rate. TDS is a separate thing: the bank deducts a part up front once interest at that bank crosses the yearly limit, and you settle the rest when you file.