Can I claim refund for tax deducted by the bank?

In case your income is not taxable, that is you are below exempt limit and bank has already deducted TDS on it, you can certainly file your income tax return and claim the TDS which the bank has deducted. In addition to that, if you feel that you are income is not going to be taxable then you can furnish Form 15G or 15H if you are a senior citizen before the bank credits the interest to your account.

So, you will not have to undergo this process of claiming return and incur expenditure in respect of filing of your income tax return.