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.
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.
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.
Check the Monthly Interest Rate on Your Fixed Deposits |
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