Fixed Deposits – Tax Question?

Hi, I am not talking about the 5-year lock in Fixed Deposits for claiming tax-relief under 80C.

I want to know what are the tax implications for opening a normal FD for say, 1 year for an amount like 5 lacs.
I notice that PAN is asked even while opening such FDs online.

1) On maturity, Will the tax be applied on the interest at source & then the balance be given to me ?

2) Or should I have to file the interest gained separately while Tax-filing (like what is done for savings a/c interests).