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 10,000 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, Tax is also deducted when the interest is credited/cumulated in the case of cumulative deposits.

Yes. If the change or enhancement in your deposit portfolio earns a cumulative interest along with that of the earlier portfolio greater than Rs 10,000 you will be liable for TDS on your current portfolio.

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

	Account holder	Rate of TDS (without surcharge)	Rate of TDS (with surcharge)
a)	A resident other then domestic company	10.3%	11.33%
b)	Domestic company	20.6%	22.66%

Note : Surcharge is not applicable when the aggregate amount payable in a year and Subject to TDS does not exceed Rs.10,00,000/- in the case an Individual, HUF, Body of Individuals or an association of persons, when the amount payable does not exceed Rs.1 Crore in the case of Domestic company. No surcharge is applicable in the case of Co-operative societies.

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 investor	Declaration / Certificate
a)	An investor not being a partnership firm or company.	Form 15G
b)	Resident individual whose age is 65 years or more at any time in the relevant financial year.	Form 15H.
c)	Others	A certificate authorising payment without deductions of tax issued by the Income tax officer.

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.