Investing in a ₹16 Lakhs fixed deposit offers secure capital growth and assured returns. Factors such as the current interest rates and tenor influence your FD returns, enhancing profitability.

 

Additionally, compounding, frequency of interest payouts, and any applicable taxes impact your final returns. A ₹16 Lakhs fixed deposit, guided by these factors, becomes a prudent choice for stable and rewarding long-term financial planning.

Monthly Interest Payout on a ₹16 Lakhs Fixed Deposit

The table below highlights the monthly interest payout you could earn on an investment of  ₹16 Lakhs in an FD over a tenor of 5 years - 

Bank/NBFC/HFC

Non-Senior Citizen (p.a.)

Monthly Interest Payout

Senior Citizen (p.a.)

Monthly Interest Payout

Bajaj Finance Ltd.

8.05%

₹10,733

8.30%

₹11,067

PNB Housing Finance Ltd. 

7.65%

₹10,200

7.95%

₹10,600

Mahindra Finance Ltd. 

8.05%

₹10,733

8.30%

₹11,067

LIC Housing Finance Ltd

7.50%

₹10,000

7.75%

₹10,333

Shriram Finance

8.60%

₹11,467

9.14%

₹12,187

ICICI Bank 

7.00%

₹9,333

7.50%

₹10,000

HDFC Bank 

7.00%

₹9,333

7.50%

₹10,000

IDFC First Bank 

7.00%

₹9,333

7.50%

₹10,000

Axis Bank 

7.00%

₹9,333

7.75%

₹10,333

IndusInd Bank 

7.25%

₹9,667

8.00%

₹10,667

YES Bank 

7.25%

₹9,667

8.00%

₹10,667

Jana Small Finance Bank 

7.25%

₹9,667

7.75%

₹10,333

Ujjivan Small Finance Bank

7.20%

₹9,600

7.70%

₹10,267

Kotak Mahindra Bank

6.20%

₹8,267

6.70%

₹8,933

SBI

6.50%

₹8,667

7.50%

₹10,000

AU Small Finance Bank

7.25%

₹9,667

7.75%

₹10,333

Disclaimer: The above-mentioned rates are effective as of 16th November 2023 and are subject to change as per the issuer’s discretion.

Monthly Interest Income on a ₹16 Lakhs Fixed Deposit

Here's the monthly interest income you could earn on a fixed deposit of ₹16 Lakhs across different interest rates:

Deposit Amount

Interest Rate (p.a.)

Monthly Interest Payout

₹16 Lakhs

6.00%

₹8,000

₹16 Lakhs

6.50%

₹8,667

₹16 Lakhs

7.00%

₹9,333

₹16 Lakhs

7.50%

₹10,000

₹16 Lakhs

8.00%

₹10,667

₹16 Lakhs

8.50%

₹11,333

₹16 Lakhs

9.00%

₹12,000

₹16 Lakhs

9.50%

₹12,667

₹16 Lakhs

10.00%

₹13,333

For a better understanding of the potential returns you could earn on your fixed deposit, you can use the FD calculator. The tool will compute the estimated returns based on inputs such as investment tenor, expected rate of return and the deposit amount.

 

Secure your investments by booking an FD on Bajaj Markets today.

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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