Formula & Calculation Methodology
Senior Rate = Base Bank Rate + 0.50% (Age 60-79) or +0.75% (Super Senior 80+).
Interactive Senior Citizen FD 0.50% Extra Rate & Form 15H TDS Saver
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Calculate higher returns for seniors (60+) and super-seniors (80+) on bank fixed deposits with Section 80TTB ₹50,000 tax exemption rules.
Senior Rate = Base Bank Rate + 0.50% (Age 60-79) or +0.75% (Super Senior 80+).
₹5,00,000 FD for 1 Year @ 7.50% (Senior Citizen)
Form 15H should be submitted in the first week of April (beginning of the financial year) to prevent 10% TDS deduction.