Senior Citizen FD Calculator 2026 — Higher Interest Rates & Maturity
Senior citizens (60+ years) enjoy 0.25–0.50% higher FD interest rates across all banks. At 7.75% p.a., a ₹10 Lakh FD matures to approximately ₹14.68 L in 5 years — earning ₹35,582 more than regular depositors at 7.25%. The TDS threshold is also higher at ₹50,000 (vs ₹40,000 for others). Use the calculator below to check maturity at senior citizen rates.
Last updated: 24 May 2026, 10:00 AM IST
Maturity Amount
₹14.68 L
at 7.75% for 5 years (quarterly compounding)
₹10.00 L FD — Detailed Breakdown
A 65-year-old retired government officer deposits ₹10 Lakh in a bank FD at the senior citizen rate of 7.75% for 5 years. With quarterly compounding, the maturity amount is ₹14.68 L, compared to ₹14.32 L at the regular rate of 7.25% — a benefit of ₹35,582 simply for being over 60. The TDS threshold for seniors is ₹50,000 per year (vs ₹40,000 for others), providing slightly more tax-free income. For monthly income needs, the non-cumulative payout at 7.75% gives about ₹7,797/month on ₹10 Lakh. Senior citizens should also consider SCSS (Senior Citizens Savings Scheme) at 8.2% with quarterly payouts — it offers even higher rates but has a ₹30 Lakh cap. A combination of FD + SCSS + PMVVY provides optimal returns with government backing.
Data Sources
- RBI — Master Direction on Interest Rates (2026) — www.rbi.org.in
- Bank Websites — Latest FD Rates (May 2026) — www.rbi.org.in
- Income Tax Act — TDS on FD Interest (2025) — incometaxindia.gov.in
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Important: This calculator provides estimates based on the inputs and assumptions you provide. Results are mathematical projections, not financial advice or recommendations. Actual outcomes will vary based on market conditions, policy changes, individual circumstances, and factors not captured by this tool. Verify all figures independently and consult qualified professionals before making financial decisions.
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Frequently Asked Questions
What is the FD interest rate for senior citizens?
Senior citizens typically get 0.25–0.50% above regular rates. Current senior rates: SBI 7.30%, HDFC 7.50%, ICICI 7.50%, Kotak 7.70%, IDFC FIRST 7.75%, Post Office 7.50%.
What is the TDS limit for senior citizen FD?
TDS is deducted at 10% when annual FD interest exceeds ₹50,000 for senior citizens (₹40,000 for others). Submit Form 15H to avoid TDS if total income is below taxable limit.
Is SCSS better than FD for senior citizens?
SCSS offers 8.2% with quarterly payouts — higher than most FDs. But SCSS has a ₹30 Lakh cap and 5-year lock-in. For amounts above ₹30 Lakh, FD is the only option.
At what age do you become eligible for senior citizen FD rates?
Most banks offer senior citizen rates from age 60. Some banks (like SBI, HDFC) offer super-senior rates for 80+ with an additional 0.10–0.25% premium.
How much extra interest do senior citizens earn on FD?
On ₹10 Lakh for 5 years, the senior citizen premium of 0.50% earns an extra ₹35,582 compared to regular rates. This gap widens for larger deposits and longer tenures.
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Disclaimer
This calculator provides estimates based on the interest rates and tenure shown. Actual maturity may vary based on the bank's specific compounding method and any rate revisions during the tenure. Bank rates are sourced from public data and may not reflect the latest changes — always confirm with your bank before investing. TDS is deducted at source if applicable. This is not financial advice. RupayWise is not a deposit broker or financial advisor.