TDS on FD for Senior Citizen

Sir

My name is Sambaji and I am 65 yrs old.

I received an amount of Rs 653,000 from sale of my car.

I want to make a FD in HDFC bank which will give me a interest rate of 7.55% PA

Now I calculated that my total interest will be Rs 49,301.5
I am confused as the HDFC Bank says that I will be charged TDS on amount of Rs 40,000 even though I told him I am a senior citizen.

Is there any change in TDS law to this effect.

Please clarify

Sambaji Deshmukh
Thanne