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There are multiple banks and NBFCs that offer competitive FD rates ranging between 6-10% p.a. For instance, you can potentially earn a payout of over ₹22,000 in 3 years with an interest rate of 7% p.a.

You can use these funds to achieve most of your financial objectives over the course of time. To start investing in FDs, find out more about the applicable interest rates from various partner and non-partner issuers here:

Fixed Deposit Calculator

The Fixed Deposit Calculator can help you calculate interest rates according to the specified tenor, the provided investment amount, and the applicable interest rate.

Deposit Amount
Tenure
Months
Interest Rate
%
Interest Payout
Total Investment
Total Interest Earned

You can also use the following to manually determine the interest rates:

• Simple Interest

Here is the formula for calculating simple interest -

SI = (Principal x Rate of Interest x Time Period) / 100

For instance, if you deposit ₹1 Lakh at an interest rate of 7% p.a. for 3 years, then the interest  can be calculated in the following manner:

1,00,000 x 7 x 3 = ₹21,00,000

21,00,000/100 = ₹21,000

This means that you can earn an interest of ₹21,000 on your FD amount in 3 years.

• Compound Interest

The formula for calculating compound interest is the same as that of simple interest. However, the principal amount is increased every year due to the addition of the previous year’s interest amount, as it is considered to be an increased yield.

For instance, the interest amount on depositing ₹1 Lakh at a rate of 7% p.a. for a tenor of 3 years can be calculated as follows:

For Year 1 -

Multiply the principal amount by the interest rate and divide it by 100

1,00,000 x 7 / 100 = 7,000

For Year 2 -

Add the previously calculated interest amount to the principal, multiply it by the interest rate and divide it by 100

1,07,000 x 7 / 100 = 7,490

This new return after the second year will then be added to your principal, bringing the total to ₹1,14,490. The interest can then be calculated in a similar way for the remaining 1 year, which is then added to the principal.

Interest Payout on ₹1 Lakh Fixed Deposit in 3 Years

The table below shows an estimate of the interest payout you can potentially receive on a ₹1 Lakh fixed deposit and tenor of 3 years with various applicable interest rates -

 Deposit Amount Interest Rate (p.a.) Maturity Amount in 3 Years ₹1 Lakh 6.00% ₹ 1,19,102 ₹1 Lakh 6.50% ₹ 1,20,795 ₹1 Lakh 7.00% ₹ 1,22,504 ₹1 Lakh 7.50% ₹ 1,24,230 ₹1 Lakh 8.00% ₹ 1,25,971 ₹1 Lakh 8.50% ₹ 1,27,729 ₹1 Lakh 9.00% ₹ 1,29,503 ₹1 Lakh 9.50% ₹ 1,31,293 ₹1 Lakh 10.00% ₹ 1,33,100

Find out more about the interest you could earn on your fixed deposit of ₹1 Lakh with a tenor of 3 years with the help of the tables below:

₹1 Lakh FD Interest Per Month Offered by NBFCs - Non-Senior Citizen

Below are the FD rates offered by NBFCs for non-senior citizens along with the monthly interest amount and the total maturity payout on a tenor of 3 years:

 Issuer Interest Rate for Non-Senior Citizen Monthly Interest Amount Total Payout at Maturity Bajaj Finance Ltd. 8.05% p.a. ₹ 671 ₹ 1,26,146 PNB Housing Finance Ltd. 7.50% p.a. ₹ 625 ₹ 1,24,230 Mahindra Finance Ltd. 8.05% p.a. ₹ 671 ₹ 1,26,146 Muthoot Finance 7.25% p.a. ₹ 604 ₹ 1,23,365 LIC Housing Finance 7.75% p.a. ₹ 646 ₹ 1,25,098 Shriram Finance 8.50% p.a. ₹ 708 ₹ 1,27,729

*Disclaimer: The above-mentioned rates are subject to change as per the issuer’s discretion.

₹1 Lakh FD Interest Per Month Offered by NBFCs - Senior Citizen

Here are the FD rates offered by NBFCs for senior citizens along with the monthly interest amount and the total maturity payout on a tenor of 3 years:

 Issuer Interest Rate for Senior Citizen Monthly Interest Amount Total Payout at Maturity Bajaj Finance Ltd. 8.30% p.a. ₹ 692 ₹ 1,27,024 PNB Housing Finance Ltd. 7.80% p.a. ₹ 650 ₹ 1,25,273 Mahindra Finance Ltd. 8.30% p.a. ₹ 692 ₹ 1,27,024 Muthoot Finance 7.50% p.a. ₹ 625 ₹ 1,24,230 LIC Housing Finance 8.00% p.a. ₹ 667 ₹ 1,25,971 Shriram Finance 9.00% p.a. ₹ 750 ₹ 1,29,503

*Disclaimer: The above-mentioned rates are subject to change as per the issuer’s discretion.

₹1 Lakh FD Interest Per Month Offered by Banks - Non-Senior Citizen

Learn about the FD rates offered by banks along with the monthly interest amount and the total maturity payout for non-senior citizens on a tenor of 3 years:

 Issuer Interest Rate for Non-Senior Citizen Monthly Interest Amount Total Payout at Maturity ICICI Bank 6.75% p.a. ₹ 563 ₹ 1,21,648 HDFC Bank 7.00% p.a. ₹ 583 ₹ 1,22,504 IDFC First Bank 7.00% p.a. ₹ 583 ₹ 1,22,504 Axis Bank 7.00% p.a. ₹ 583 ₹ 1,22,504 IndusInd Bank 7.25% p.a. ₹ 604 ₹ 1,23,365 Yes Bank 7.25% p.a. ₹ 604 ₹ 1,23,365 Jana Small Finance Bank 7.25% p.a. ₹ 604 ₹ 1,23,365 Kotak Mahindra Bank 6.20% p.a. ₹ 517 ₹ 1,19,777 SBI 6.50% p.a. ₹ 542 ₹ 1,20,795 Punjab National Bank 6.50% p.a. ₹ 542 ₹ 1,20,795 Bank of India 6.00% p.a. ₹ 500 ₹ 1,19,102

*Disclaimer: The rates mentioned above are subject to change as per the issuer’s discretion.

₹1 Lakh FD Interest Per Month Offered by Banks - Senior Citizen

Find out about the 3 year FD interest rates offered by banks along with the monthly interest amount and the total maturity payout for senior citizens:

 Issuer Interest Rate for Senior Citizen Monthly Interest Amount Total Payout at Maturity ICICI Bank 6.75% p.a. ₹ 563 ₹ 1,21,648 HDFC Bank 7.50% p.a. ₹ 625 ₹ 1,24,230 IDFC First Bank 7.50% p.a. ₹ 625 ₹ 1,24,230 Axis Bank 7.75% p.a. ₹ 646 ₹ 1,25,098 IndusInd Bank 8.00% p.a. ₹ 667 ₹ 1,25,971 Yes Bank 8.00% p.a. ₹ 667 ₹ 1,25,971 Jana Small Finance Bank 7.75% p.a. ₹ 646 ₹ 1,25,098 Kotak Mahindra Bank 6.70% p.a. ₹ 558 ₹ 1,21,477 SBI 7.50% p.a. ₹ 625 ₹ 1,24,230 Punjab National Bank 7.00% p.a. ₹ 583 ₹ 1,22,504 Bank of India 6.75% p.a. ₹ 563 ₹ 1,21,648

*Disclaimer: The rates mentioned above are subject to change as per the issuer’s discretion.

With this, you may now have a better idea about your potential earnings on saving ₹1 Lakh in an FD. These funds can help you meet your short-term as well long-term financial requirements. Don’t wait any further. Book an FD today on Bajaj Markets!

Disclaimer

The information provided by BFDL herein above is related to the Non-Partnered Banks/ NBFCs and is just for the purpose of information and under no circumstances the information provided hereinabove is intended to be source of advice or recommending any financial investment advice or endorsement of any sort.

The information including interest rates with regard to fixed deposit, provided on this website is gathered through publicly available sources over the internet and is considered as accurate and reliable to the best of our knowledge. BFDL disclaims any responsibility or liability regarding inaccuracies, omissions, mistakes etc. as well as offers by the Non-Partnered Banks. The use of information set out is entirely at the User’s own risk and User should exercise due care prior taking of any decision, on the basis of information mentioned hereinabove. You are advised to visit/ contact the respective Banks/ NBFCs to verify the information before making any investment or opening an account. Further, BFDL does not undertake any responsibility or liability to update this information. YOU ARE SOLELY RESPONSIBLE FOR ANY LIABILITY OR DAMAGE YOU INCUR THROUGH ACCESS TO OR USE OF THE SITE OR SUCH INFORMATION OR MATERIALS EXCEPT WHERE THE LAWS AND REGULATIONS OF A PARTICULAR JURISDICTION CONCERNING WARRANTIES CANNOT BE WAIVED. Additionally, display of any trademarks, tradenames, logo and other subject matters of intellectual property owners. Display of such Intellectual Property along with the related product information does not imply BFDL’s partnership with the owner of the Intellectual Property of such products.