Source: https://awesomecalcs.com/fd-calculator/500000-senior-citizen-fd-1-year
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# ₹5,00,000 Senior Citizen FD for 1 Year

> See the maturity value and total interest earned on a ₹5,00,000 senior citizen fixed deposit for 1 year at 7.5% p.a., compounded quarterly.

Interactive calculator: https://awesomecalcs.com/fd-calculator/500000-senior-citizen-fd-1-year

Keywords: 5 lakh senior citizen FD 1 year maturity value, 500000 senior citizen fixed deposit 1 year returns, FD calculator 500000 senior citizen, senior citizen FD 500000, senior citizen fixed deposit interest, extra 0.5 percent FD senior citizen

## Scenario inputs

```json
{
  "inputs": {
    "principal": 500000,
    "interestRate": 7.5,
    "tenureMonths": 12
  }
}
```

## Frequently asked questions

### How much more does a senior citizen earn compared to a regular FD on ₹5,00,000 for 1 year?

At 7.5% p.a. a ₹5,00,000 senior citizen FD matures to about ₹5,38,566 after 1 year. The same FD at the regular 7% rate matures to about ₹5,35,894. The extra 0.5% adds roughly ₹2,672 over 1 year. The advantage grows with tenure; at 5 years the gap becomes roughly ₹15,000 on a ₹5 lakh deposit.

### Is TDS deducted on a ₹5,00,000 senior citizen FD?

At 7.5% the annual interest on a ₹5,00,000 FD is about ₹37,500 in year 1, which is below the ₹50,000 senior citizen TDS exemption. So no TDS is deducted in year 1. In subsequent years the interest grows slightly due to compounding and could approach the threshold, so monitor your total interest at the bank each year and submit Form 15H if your income is below the taxable limit.

### How does a ₹5,00,000 senior citizen FD compare to SCSS?

At ₹5 lakh, both SCSS and a bank senior citizen FD are viable. SCSS at 8.2% would earn about ₹41,000 interest in year 1 (paid quarterly), while this FD earns about ₹38,566. The SCSS income is quarterly cash in hand, while the FD reinvests interest. SCSS also gives Section 80C benefit up to ₹1.5 lakh. For most senior citizens with this deposit size, SCSS is worth prioritising up to the ₹30 lakh SCSS limit.