Yes, NRIs can open a ₹10 Lakh FD either in a bank or an NBFC that offers this facility.

Yes, the returns earned annually on a ₹10 Lakh FD are taxable as per the applicable income tax slab rate.

No, there is no official cap on the interest rate for a ₹10 Lakh fixed deposit. The rates vary between banks and NBFCs and are subject to change.

Documents required for a ₹10 Lakh FD include identity proof, signature proof, and address proof. These include passport, voter ID card, Aadhaar card, ration card, driving licence, etc. Senior citizens may need to submit age proof along with Form 15H.

To invest in a ₹10 Lakh fixed deposit, you must be at least 18 years old and hold a PAN card. Members of Hindu Undivided Families (HUFs) must have a separate PAN card in their name. Minors can open an FD with a guardian's assistance.

You can calculate monthly interest on a ₹10 Lakh FD using an FD calculator online. Simply select your customer and deposit type, enter the FD amount and maturity period, and the calculator will provide the interest payout based on the applicable FD rate.

The monthly interest you can earn on a ₹10 Lakh fixed deposit depends on the interest rate offered by the bank or NBFC. Typically, you can expect to earn anywhere from around ₹5,000 to ₹8,000 per month, depending on the prevailing interest rate.

Yes, there may be penalties for premature withdrawal of a ₹10 Lakh fixed deposit before its maturity date. These penalties vary among banks and financial institutions and are usually a percentage of the interest earned or a fixed amount.

Yes, many banks offer loans against fixed deposits as collateral. The loan amount you can avail of typically ranges from 70% to 90% of the fixed deposit's principal amount. Interest rates on such loans are generally lower than other types of loans.

If you do not renew your ₹10 Lakh fixed deposit after maturity, the funds, including the interest earned, will be transferred to your linked savings account. Some banks may automatically renew the FD for the same tenor unless you instruct them otherwise.

Deposits up to ₹5 Lakh in a bank, including fixed deposits, are insured under the Deposit Insurance and Credit Guarantee Corporation (DICGC) scheme. Therefore, your ₹10 Lakh fixed deposit is insured up to ₹5 Lakh, and any amount above that is not covered by insurance.