Monthly Interest for ₹1 Crore FD

If you have a sizable amount of savings lying idle, Fixed Deposits (FDs) are a great way to securely grow your wealth. A ₹1 Crore Fixed Deposit with monthly interest payout offers substantial monthly income, making it an attractive choice for those seeking significant returns on their investments while maintaining liquidity.

A monthly interest payout on such large FDs offer a unique  opportunity to not only preserve your wealth but also generate a consistent income stream.

Read on to learn more about the monthly interest payout on ₹1 Crore FD at different rates of interest and across different banks and NBFCs.

The table below indicates the monthly interest payout on a ₹1 Crore fixed deposit you could earn across different banks and NBFCs for a tenor of 5 years:

*Disclaimer: The above-mentioned rates are effective as of 05 October 2023 and are subject to change as per the issuer’s discretion.

The table below shows an estimate of the monthly interest payout you would receive on a ₹1 Crore fixed deposit -

Earning a monthly interest on ₹1 Crore FD can be subject to taxation. Taxes will be applicable as per the income bracket you fall under. 

For Bank FDs, a TDS rate of 10% is applicable if the interest income exceeds the TDS threshold limit of ₹40,000. For senior citizens, however, this threshold limit is set at ₹50,000.Furthermore, not having a PAN card will increase the TDS to 20% on the monthly interest for ₹1 Crore in bank. 

For NBFCs FDs, the threshold limit for Tax Deducted at Source (TDS) stands at ₹5,000. If the interest income exceeds ₹5,000, a TDS of 10% is applicable.

Now that you have a better understanding of the estimated returns you can earn on a ₹1 Crore FD, choose from your preferred issuer and get started with an FD today!

You can also make use of the FD interest calculator to determine the potential returns you could earn on your fixed deposit investment.