Investing ₹15 Lakhs in a fixed deposit (FD) with monthly payouts can help you generate a steady source of income. These interest payments can be a dependable boost that takes the pressure off your everyday expenses.

 

The monthly interest on a fixed deposit of ₹15 Lakhs for 2 years would be ₹4,000, considering the interest rate is 8% p.a. Your potential monthly earnings will increase if you opt for an FD offering higher rates.

Deposit Amount

Interest Rate

Tenure

Months

Interest Payout

At Maturity
At Maturity
Monthly
Quaterly
Half Yearly
Yearly

Invest Amount

Interest Rate

Total Interest Amount

Total Payout Principal + Interest

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Monthly Interest on an FD of ₹15 Lakhs

As mentioned earlier, you can earn more as monthly interest payments on FDs with higher interest rates. Here is an estimate of the monthly interest payout you would receive on a fixed deposit of ₹15 Lakhs for 5 years:

Deposit Amount

Interest Rate (p.a.)

Monthly Interest Payout

₹15 Lakhs

6.00%

₹7,500

₹15 Lakhs

6.50%

₹8,125

₹15 Lakhs

7.00%

₹8,750

₹15 Lakhs

7.50%

₹9,375

₹15 Lakhs

8.00%

₹10,000

₹15 Lakhs

8.50%

₹10,625

₹15 Lakhs

9.00%

₹11,250

₹15 Lakhs

9.50%

₹ 11,875

₹15 Lakhs

10.00%

₹ 12,500

Note: The monthly payouts mentioned above are indicative, and your actual returns depend on the issuer’s policies.

Monthly Interest on an FD of ₹15 Lakhs from Different Banks/NBFCs

Here is a breakdown of the monthly payouts you can earn when you invest in a fixed deposit of ₹15 Lakhs for 5 years:

Bank/NBFC/HFC

Non-Senior Citizen (p.a.)

Monthly Interest Payout

Senior Citizen (p.a.)

Monthly Interest Payout

Bajaj Finance Ltd.

7.81%

₹9,762

8.05%

₹10,062

PNB Housing Finance Ltd.

7.39%

₹9,237

7.59%

₹9,487

Mahindra Finance Ltd.

7.55%

₹9,437

7.80%

₹9,750

LIC Housing Finance Ltd

7.50%

₹9,375

7.75%

₹9,687

Shriram Finance

8.47%

₹10,587

8.97%

₹11,212

ICICI Bank 

7.00%

₹8,750

7.50%

₹9,375

HDFC Bank 

7.00%

₹8,750

7.50%

₹9,375

IDFC First Bank 

7.00%

₹8,750

7.50%

₹9,375

Axis Bank 

7.00%

₹8,750

7.75%

₹9,687

IndusInd Bank 

7.25%

₹9,062

7.75%

₹9,687

YES Bank 

7.25%

₹9,062

8.00%

₹10,000

Jana Small Finance Bank  

7.25%

₹9,062

7.75%

₹9,687

Kotak Mahindra Bank

6.20%

₹7,750

6.70%

₹8,375

SBI

6.50%

₹8,125

7.50%

₹9,375

AU Small Finance Bank

7.21%

₹9,012

7.70%

₹9,625

Ujjivan Small Finance Bank

7.20%

₹ 9,000

7.70%

₹9,625

Note: The above-mentioned rates are subject to change at the discretion of the issuer.

 

On Bajaj Markets, you can compare multiple FD issuers who offer competitive interest rates and select the best offer. You can also use the FD interest calculator to determine the potential returns you could earn on your FD.

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. 

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FAQs on the Monthly Interest on an FD of ₹15 Lakhs

Is there a minimum and maximum cap to the monthly interest for a fixed deposit of ₹15 Lakhs?

No, there is no floor or ceiling on monthly payouts you can earn on investing in an FD of ₹15 Lakhs. Among other factors, the monthly interest depends on the interest rate offered by the bank or NBFC.

Are FDs of ₹15 Lakhs taxable?

Yes. If the interest earned on your fixed deposit of ₹15 Lakhs exceeds ₹40,000 in a year, the issuer will deduct a TDS at 10%. The exemption limit for senior citizens for the same is ₹50,000.

What are the documents required to book a fixed deposit of ₹15 Lakhs?

To open an FD account, you need to provide proof of identity, address, photographs, and other KYC documents.

What are the eligibility criteria that I need to meet to open a fixed deposit of ₹15 Lakhs?

Eligibility criteria may vary among banks and NBFCs. Generally, you need to be a resident or non-resident Indian (NRI) over 18 years of age to open an FD account.

How to calculate the FD interest on a deposit of ₹15 Lakhs?

For monthly interest payouts, use the formula for simple interest: (P × R × T) ÷ 100. For compound interest, the formula is: P × [(1 + R/100)^(T)] - P. Here, P is the investment amount, R is the interest rate, and T is the investment period in years.

Is there a penalty for withdrawing the fixed deposit before maturity?

Yes, withdrawing an FD prematurely typically incurs a penalty, which could result in a reduction of interest earnings. However, these penalties vary among FD issuers.

What happens if I do not renew my FD of ₹15 Lakhs after maturity?

If you don’t renew your FD, the issuer usually transfers the principal amount along with the interest earned to your linked savings account.

Is my fixed deposit amount of ₹15 Lakhs insured?

The Deposit Insurance and Credit Guarantee Corporation (DICGC) scheme insures fixed deposits of up to ₹5 Lakhs issued by banks.

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