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Set a monthly income goal, estimate the needed principal at likely FD rates, and refine numbers with a payout calculator.
Last updated on: March 23, 2026
One of the most important factors you must consider while choosing a fixed deposit is the interest rate offered by the issuer. It determines how much returns you will make on a particular FD investment.
There are two formulas that you can use to calculate total interest receivable on FD: simple and compound interest. Read on to know how to calculate ₹2 interest for ₹30,000 per month or year when you invest in a fixed deposit.
Like the ‘₹1 interest’ method, you can find out the total interest receivable on FD using the ‘₹2 interest for ₹30,000 per month’ method. Here is a table showcasing how to calculate ₹2 interest for a ₹30,000 FD per month using different methods:
| Calculation Method | Formula | Illustration |
|---|---|---|
‘₹2 Interest for ₹30,000 Per Month’ Method |
With ₹2 interest on ₹100, the annual interest rate would be 2 X 12 = 24% |
Assume that you invest ₹30,000 for monthly payouts at a 2% interest rate. This means your annual interest rate would be 24%. Given this, the monthly interest amount would be: 30,000 X 2/100 = ₹600. |
Simple Interest Method |
The formula for simple interest is as follows: I = p × r × t Here,
|
If you invest ₹30,000 for one year, the interest earned at the end of the tenor would be - 30,000 X 24/100 X 1 = ₹7,200. Monthly interest: 7,200/12 = ₹600 |
Compound Interest Method |
The formula for compound interest is as follows: I = [P (1 + r/n)^n X t] – P Here,
|
If you invest ₹30,000 for one year with annual compounding, the interest amount would be: [30,000 X (1+0.24/1)^1*1] - 30,000 = ₹7,200 Monthly interest: 7200/12 = ₹600 |
The interest receivable for any amount you invest in an FD depends on whether the issuer uses the simple interest or compound interest formula. Generally, if you invest ₹30,000 in an FD, where the interest is compounded annually, your returns would be higher.
This is because the interest gets added to the principal to calculate the next interest amount. However, remember that there is a risk of error in manual calculations. But you can avoid this when you use the Fixed deposit interest calculator available on Bajaj Markets.
The FD calculator is an online tool that you can use to instantly and accurately estimate the interest receivable. Moreover, you can compare different schemes using the calculator and choose the best one.
You can also just as easily invest in an FD on Bajaj Markets by choosing from a plethora of FD options. With an entirely digital process and minimal paperwork, you can invest from the comfort of your home.
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You can calculate simple interest on an FD offering ₹2 interest for ₹30,000 per month using this formula: I = P X R X T
To calculate the total interest amount using an FD interest calculator, you need to enter just a few variables. These include the initial invested amount, investment horizon, interest rate offered, FD payout, and, in some cases, your age.
Based on these terms, you can earn interest of around ₹27,199 at the end of the tenor. Remember that this calculation is from an FD calculator, and the actual earnings may vary.
The compound interest formula to determine interest receivable on an FD is [P (1 + r/n)^n X t] – P.
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