FD rate up to 8.3% for senior citizens investing for three years; Know list of banks

Select banks offer senior citizens fixed deposit interest rates up to 8.3 percent. Jana Small Finance Bank provides this highest rate for a three-year term. TDS is deducted if FD interest exceeds Rs 1 lakh annually for senior citizens. Senior citizens can submit Form 15H to avoid TDS if their tax liability is zero. This form helps banks avoid deducting tax when income falls below taxable limits.