Investing in an FD could be a wise choice for investors looking to earn stable and assured returns at regular intervals. With a 9% interest rate on an FD of ₹20 Lakhs for 5 years, you can get monthly earnings of up to ₹15,000. Likewise, booking an FD at a rate of 8% can fetch you a payout of ₹13,333 every month. 

 

Your interest payouts depend on the FD rate, tenor and invested amount. By choosing the right terms, you can maximise profits. Compare issuers and rates and forecast your earnings to go about this smartly.

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 Income for an FD of ₹20 Lakhs

Your monthly payouts will differ when you book an FD of ₹20 Lakhs for 1 year compared to a tenor of 5 years. Here is an estimate of the potential monthly earnings on a deposit of ₹20 Lakhs for 5 years across various interest rates.

Deposit Amount

Interest Rate (p.a.)

Monthly Interest Payout

₹20 Lakhs

6.00%

₹10,000

₹20 Lakhs

6.50%

₹10,833

₹20 Lakhs

7.00%

₹11,667

₹20 Lakhs

7.50%

₹12,500

₹20 Lakhs

8.00%

₹13,333

₹20 Lakhs

8.50%

₹14,167

₹20 Lakhs

9.00%

₹15,000

₹20 Lakhs

9.50%

₹15,833

₹20 Lakhs

10.00%

₹16,667

Note: These values are indicative and actual returns may vary based on the invested amount and chosen tenor.

 

While the aforementioned values refer to the monthly payout, you could easily calculate the yearly interest on an FD of ₹20 Lakhs, too. Use the FD interest calculator to determine the potential returns you could earn on your fixed deposit.

Monthly Interest Payout for an FD of ₹20 Lakhs by Banks/NBFCs

FD interest rates for senior citizens and regular investors usually differ across issuers. Consider the table below to compare the monthly interest payout on an FD of ₹20 Lakhs invested for 5 years.

Bank/NBFC/HFC

Non-senior Citizen (p.a.)

Monthly Interest Payout

Senior Citizen (p.a.)

Monthly Interest Payout

Bajaj Finance Ltd. 

8.10%

₹13,500

8.35%

₹13,917

PNB Housing Finance Ltd.

7.65%

₹12,750

7.85%

₹13,083

Mahindra Finance Ltd. 

8.10%

₹13,500

8.35%

₹13,917

LIC Housing Finance

7.75%

₹12,917

8.00%

₹13,333

Shriram Finance

8.47%

₹14,117

8.97%

₹14,950

ICICI Bank 

7.00%

₹11,667

7.50%

₹12,500

HDFC Bank 

7.00%

₹11,667

7.50%

₹12,500

IDFC First Bank 

7.00%

₹11,667

7.50%

₹12,500

Axis Bank 

7.10%

₹11,833

7.60%

₹12,667

IndusInd Bank 

7.25%

₹12,083

7.75%

₹12,917

YES Bank 

7.25%

₹12,083

8.00%

₹13,333

Jana Small Finance Bank 

7.25%

₹ 12,083

7.75%

₹ 12,917

Kotak Mahindra Bank

6.20%

₹10,333

6.70%

₹11,167

SBI

6.50%

₹10,833

7.50%

₹12,500

AU Small Finance Bank

7.25%

₹12,083

7.75%

₹ 12,917

Ujjivan Small Finance Bank

7.20%

₹12,000

7.70%

₹12,833

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


With insight into the interest per month on a fixed deposit of ₹20 Lakhs, you can choose the best FD plan. To get closer to your goals, compare multiple options on Bajaj Markets and book an FD online.

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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Frequently Asked Questions

Is there a minimum and maximum cap on the monthly interest on an FD of ₹20 Lakhs?

No. The monthly interest you can earn on a fixed deposit of ₹20 Lakhs varies among FD issuers. Your payout depends on the interest rate and the tenor.

What are the benefits of opting for monthly interest payouts on an FD of ₹20 Lakhs?

Opting for monthly interest payouts ensures a regular income stream, providing financial stability. It offers liquidity by providing access to funds at regular intervals instead of waiting for the FD to mature.

Can we take monthly interest on fixed deposits of ₹20 Lakhs?

Yes, you can sign up to receive payouts every month on your FD investment of ₹20 Lakhs. The amount you get depends on the FD interest rate offered by the issuer you choose and the tenor selected.

How much interest per month on a fixed deposit of ₹20 Lakhs can I get?

The payout depends on the monthly interest rate on an FD of ₹20 Lakhs. Check the latest rates of issuers on Bajaj Markets and use an FD calculator to forecast your returns.

Is the monthly interest on a fixed deposit of ₹20 Lakhs taxable?

Yes, the interest earned annually on FDs is taxable. It is considered additional income and taxed based on applicable income tax slabs. This tax is applied only when the interest income crosses the threshold ₹40,000 for regular investors. The limit is ₹50,000 in the case of senior investors.

What are the documents required to book a fixed deposit of ₹20 Lakhs?

You need to submit proof of identity (PAN card, Aadhaar card, etc.) and proof of address (passport, utility bills, etc.). Some issuers may also require proof of income. However, these requirements differ among issuers.

What are the eligibility criteria to meet when opening a fixed deposit of ₹20 Lakhs?

You must be an Indian resident aged 18 or above. Make sure to submit all necessary documents as per the requirements of the bank or NBFC.

Is there a penalty for withdrawing the FD amount of ₹20 Lakhs before maturity?

Yes, FD issuers impose a penalty for premature withdrawal of a fixed deposit. The penalty amount varies depending on the issuer’s policy and the remaining tenor.

Can I add more money to my fixed deposit of ₹20 Lakhs during the tenor?

No, you cannot add additional funds to an existing fixed deposit during its tenor. However, you can open a new fixed deposit account with additional funds if you wish to invest more.

Is my fixed deposit of ₹20 Lakhs insured?

Yes. FDs up to ₹5 Lakhs per depositor per bank are insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC).

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