Monthly Interest for 15 Lakhs Fixed Deposit

In case you have a lump sum amount of ₹15 Lakhs or so in hand, you may be keen on figuring out the best way to invest these funds. If you want guaranteed returns over a given period, it may be ideal to invest the ₹15 Lakhs in a fixed deposit. The monthly interest for ₹15 Lakhs fixed deposits can be quite significant, allowing you to supplement your primary source of income over the investment tenor. 

For a ₹15 Lakhs FD, the interest per month depends on the rate of interest offered by the bank or NBFC that you choose.  An FD compound interest calculator can help you calculate the monthly returns you earn on your fixed deposit. All you have to do is enter the fixed deposit amount, tenor and rate of interest. Get to know more about the interest rates prevailing in the market right now and see for yourself what the monthly interest for ₹15 Lakhs in bank FDs and NBFC deposits will be. 

List of NBFC Fixed Deposit Interest Rates for ₹15 Lakhs 

NBFCs or Non-Banking Financial Companies offer fixed deposit facilities for interested investors who are looking for safe yet fruitful investment avenues. Fixed deposits by NBFCs may carry a slightly higher interest rate than bank FDs.

Check out the table below to get a better idea of the interest rates, monthly interest amount and the maturity amount for ₹15 Lakhs FDs offered by the top NBFCs. The metrics shown below are for deposits with an investment tenor of 5 years. 

List of Banks Fixed Deposit Interest Rates for ₹15 Lakhs 

If you want to earn interest per month on a ₹15 Lakhs FD, you can choose to open an FD with a bank instead. Bank FDs are considered slightly safer than NBFC fixed deposits, although the interest rates may be a tad bit lower. 

The table below shows you the interest rates, monthly interest and the maturity amounts for the bank FDs of ₹15 Lakhs. The interest rates shown are for deposits with an investment tenor of 5 years. 

Why you should choose monthly interest for a ₹15 Lakhs FD 

When you invest a lump sum such as ₹15 Lakhs in an FD, you can choose to reinvest the interest (as in the case of a cumulative FD) or you can choose to have it paid out to you regularly (as in the case of a non-cumulative FD). If you choose the latter, you can even select the frequency of the payout, such as monthly, quarterly, half-yearly or annual payments. 

Here are some key reasons to choose the option of earning interest per month on your ₹15 Lakhs FD.

• Better Returns 

You can earn higher interest on your ₹15 Lakhs FD than on your savings account, because fixed deposits carry a higher rate of interest than savings account interest rates. 

• Flexible Tenor

Since fixed deposits typically have flexible tenor options ranging from 7 days to 10 years or more, you can get regular income over the long term via your ₹15 Lakhs FD interest per month.

• Higher Rates for Senior Citizens

Senior citizens get the benefit of nominally higher interest rates on fixed deposits. So, if you are a retired person looking for a steady source of pension, this feature can benefit you greatly.

• Guaranteed Returns 

The interest per month on ₹15 Lakhs FDs is also guaranteed and unaffected by market movements. This makes FDs a good choice for conservative investors. 

Conclusion

This sums up the essential details about earning monthly interest on your ₹15 Lakhs fixed deposit. You can make use of the information provided above to take an informed investment decision. Keep in mind that the rates on fixed deposits may vary from time to time. So, check the latest interest rates before you invest. 

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