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# ₹10,00,000 Senior Citizen FD for 3 Years

> See the maturity value and total interest earned on a ₹10,00,000 senior citizen fixed deposit for 3 years at 7.5% p.a., compounded quarterly.

Interactive calculator: https://awesomecalcs.com/fd-calculator/1000000-senior-citizen-fd-3-years

Keywords: 10 lakh senior citizen FD 3 years maturity value, 1000000 senior citizen fixed deposit 3 years returns, FD calculator 1000000 senior citizen, senior citizen FD 1000000, senior citizen fixed deposit interest, extra 0.5 percent FD senior citizen

## Scenario inputs

```json
{
  "inputs": {
    "principal": 1000000,
    "interestRate": 7.5,
    "tenureMonths": 36
  }
}
```

## Frequently asked questions

### How much more does a senior citizen earn compared to a regular FD on ₹10,00,000 for 3 years?

At 7.5% p.a. a ₹10,00,000 senior citizen FD matures to about ₹12,49,628 after 3 years. The same FD at the regular 7% rate matures to about ₹12,31,439. The extra 0.5% adds roughly ₹18,189 over 3 years. On a ₹10 lakh corpus the difference is meaningful, so always verify whether your bank is applying the senior citizen rate at booking.

### Is TDS deducted on a ₹10,00,000 senior citizen FD?

At 7.5% the annual interest on a ₹10,00,000 FD is about ₹75,000 in year 1, well above the ₹50,000 senior citizen TDS exemption. TDS at 10% is therefore deducted each year (20% without PAN). If your total income is below the basic exemption limit, submit Form 15H to the bank at the start of each financial year to avoid deduction. If TDS is already deducted, claim the refund in your ITR.

### How does a ₹10,00,000 senior citizen FD compare to SCSS?

SCSS allows a maximum of ₹30 lakh per individual. At ₹10 lakh, SCSS at 8.2% p.a. would generate about ₹82,000/year in quarterly payouts and also qualifies for Section 80C benefit up to ₹1.5 lakh. The bank FD at 7.5% earns less and pays on maturity (or as per the payout option chosen). For most senior citizens, deploying at least part of the ₹10 lakh into SCSS before using FDs is a tax-efficient strategy.