No. You need not go through any formalities. You just have to provide the Customer ID, type of deposit and cheque/cash and we will take care of the rest. In case you want to have the deposit as senior citizen and the existing Customer ID is for non senior citizen, then you need to go through the formalities mentioned in 'Open your account'.

If the aggregate interest income that you are likely to earn for all your deposits held in a branch is greater than Rs 5,000 in a financial year, you become liable for TDS.

Note: Tax liability for TDS purpose is determined at branch level. Deposits held by minors are also subject to TDS. The credit for the TDS can be claimed by the person in whose hands the minor's income is included.

TDS is made every time the Bank pays interest during the financial year and the above mentioned criterion is satisfied. In addition, TDS is also deducted on interest accrued (but not yet paid) at the end of the financial year viz. 31 March.

Yes. If the change or enhancement in your deposit portfolio earns a cumulative interest along with that of the earlier portfolio greater than Rs 5,000 you will be liable for TDS on your current portfolio.

Note: If interest on the current portfolio is not sufficient to cover TDS, it will be recovered from the principal   

A TDS is deducted at the following rates for the following category of account holders: 

Type of Account Holders	TDS (%)
Resident Individuals, Sole Proprietorship, Trusts, Association of Persons, Hindu Undivided Family (HUF)	10.2%
Domestic Companies	20.4%
NRO Deposits	30.6%

Note: With the exception of FCNR (B) Deposits and NRE F.D's, TDS is deductible on every other foreign currency deposit. The TDS rate applicable will depend on the category of the account holder as per the above schedule.

If you believe that your total interest income for the year will not fall within overall taxable limits, you should inform the Bank not to deduct TDS on deposits. You can do this by submitting a form as per the provisions of the Income Tax Act. The forms required for different categories have been listed below:

Category of Account	Form required
Individual	15H
Companies	15AA
Association of Companies	15AA
Trusts	15AA

A consolidated TDS Certificate in Form 16A, for TDS deducted during a financial year will be issued in the month of April of the following financial year. 

The account can be opened joint with a non-senior citizen, provided the first account holder is a senior citizen.  

While opening the account, the customer needs to provide proof of age - to ensure that account holder is a senior citizen. He can provide either of the following:

• Secondary School Leaving Certificate (Class 10)
• LIC Policy
• Voters Identity Card
• Pension Payment Order
• Birth Certificate issued by the competent authority
• Passport / Defence ID Card / Govt ID Card (Provided they have the    cardholder's photo,signature and date of birth)
• PSU issued ID Cards
• Senior Citizen Cards issued by Indian Airlines / Indian Railways
• PAN Card

The same Customer ID may be used and there is no need to create a separate Customer ID to avail of this product. For new FDs being booked, you only have to provide proof of age. In case proof of age is not submitted, the interest earned will be the same as for regular FD.