How and how much TDS is deducted on fixed deposit interest. Check details here - BusinessToday

If you want to avoid TDS on your fixed deposit when you invest, here’s a useful tip. Banks deduct 10% TDS when your FD interest exceeds ₹40,000 in a year. You can get this TDS refunded when you file your ITR, which will reduce your overall tax burden. However, it’s more advantageous to prevent TDS from being deducted in the first place. To do this, you need to split your FDs across different banks so that the interest in any one bank does not exceed ₹40,000, preventing them from deducting TDS. B

Section 194A - TDS on Interest Other than Interest on Securities