A fixed deposit (FD) with substantial deposits of ₹30 Lakhs may help you build a consistent source of income. Assuming the rate of interest is 8% p.a., monthly interest on a fixed deposit of ₹30 Lakhs for 2 years would be ₹8,000.

 

Thus, the passive income earned from this FD can supplement your salary and cover your regular expenses, allowing you to plan your budget effectively.

Deposit Amount

Interest Rate

Tenure

Months

Interest Payout

At Maturity
At Maturity
Monthly
Quaterly
Half Yearly
Yearly

Investment Amount

Interest Rate

Total Interest Amount

Total Payout (Principal + Interest)

INVEST NOW

Monthly Interest on an FD of ₹30 Lakhs

Choosing a fixed deposit with higher interest rates provides increased monthly earnings. Here is an estimate of the monthly interest payout you can receive on an investment of ₹30 Lakhs for 5 years across different FD rates:

Deposit Amount

Interest Rate (p.a.)

Monthly Interest Payout

₹30 Lakhs

6.00%

₹15,000

₹30 Lakhs

6.50%

₹16,250

₹30 Lakhs

7.00%

₹17,500

₹30 Lakhs

7.50%

₹18,750

₹30 Lakhs

8.00%

₹20,000

₹30 Lakhs

8.50%

₹21,250

₹30 Lakhs

9.00%

₹22,500

₹30 Lakhs

9.50%

₹23,750

₹30 Lakhs

10.00%

₹25,000

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

Monthly Interest on an FD of ₹30 Lakhs from Various Banks/NBFCs

The table below indicates the monthly interest payout you can earn on an FD of ₹30 Lakhs for 5 years across different issuers:

Bank/NBFC/HFC

Non-Senior Citizen (p.a.)

Monthly Interest Payout

Senior Citizen (p.a.)

Monthly Interest Payout

Bajaj Finance Ltd.

7.81%

₹19,524

8.05%

₹20,124

PNB Housing Finance Ltd.

7.39%

₹18,474

7.59%

₹18,974

Mahindra Finance Ltd.

7.55%

₹18,875

7.80%

₹19,500

LIC Housing Finance Ltd

7.50%

₹18,750

7.75%

₹19,375

Shriram Finance

8.47%

₹21,175

8.97%

₹22,425

ICICI Bank 

7.00%

₹17,500

7.50%

₹18,750

HDFC Bank 

7.00%

₹17,500

7.50%

₹18,750

IDFC First Bank 

7.00%

₹17,500

7.50%

₹18,750

Axis Bank 

7.00%

₹17,500

7.75%

₹19,375

IndusInd Bank 

7.25%

₹18,125

7.75%

₹19,375

YES Bank 

7.25%

₹18,125

8.00%

₹20,000

Jana Small Finance Bank 

7.25%

₹ 18,125

7.75%

₹ 19,375

Kotak Mahindra Bank

6.20%

₹15,500

6.70%

₹16,750

SBI

6.50%

₹16,250

7.50%

₹18,750

AU Small Finance Bank

7.21%

₹18,050

7.70%

₹19,250

Ujjivan Small Finance Bank

7.20%

₹18,000

7.70%

₹19,250

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

 

On Bajaj Markets, you can use the FD interest calculator to determine the potential returns you could earn on your fixed deposit investment. Moreover, you can compare different offers and apply for a scheme with the highest earning potential online with ease.

Disclaimer

The information provided by BFDL is related to the rates provided by Banks and Deposit taking NBFCs as available from public domain and under no circumstances is intended to be source of advice or recommendation of any financial investment advice or endorsement of any sort. BFDL disclaims any responsibility or liability regarding inaccuracies, omissions, mistakes etc. as well as offers and use of such 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. Display of any intellectual property along with the related product information does not imply BFDL’s partnership with the owner of the intellectual property of such products and is solely for the purpose of information, unless otherwise provided by BFDL.

FAQs on the Monthly Interest on a Fixed Deposit of ₹30 Lakhs

How much interest will I get on a fixed deposit of ₹30 Lakhs?

Different banks and NBFCs offer varied interest rates on an FD of ₹30 Lakhs, which impacts the monthly interest earned. For instance, you can earn a monthly interest payout of ₹40,000 for an FD investment of ₹30 Lakhs for 10 years at 8% p.a.

Is there a tax applicable on the interest on an FD of ₹30 Lakhs?

Yes, as per Section 194A of the Income Tax Act of 1961, the interest earned on an FD of ₹30 Lakhs is taxable. If your yearly interest earnings exceed ₹40,000, your returns will attract a TDS deduction of 10%.

Is there a minimum and maximum cap on the monthly interest for a fixed deposit of ₹30 Lakhs?

No, there is no minimum or maximum cap on monthly earnings from a fixed deposit. You will regularly receive monthly interest payouts at a fixed rate for the tenor selected.

What are the documents required for a fixed deposit of ₹30 Lakhs?

The documents required for an FD of ₹30 Lakhs include proof of identity, residence proof, and other KYC documents. However, this requirement may vary across issuers.

What are the eligibility criteria for opening an FD of ₹30 Lakhs?

For investing in a fixed deposit, you must be at least 18 years old, and you should possess a PAN card. You can also open an FD account for minors as a legal guardian.

How to calculate FD interest on ₹30 Lakhs?

You can calculate the monthly interest on an FD online or manually. For the former, open an FD calculator online and enter the loan amount, tenor, and interest rates to find the estimate of your monthly returns. You can also calculate your interest manually using the formula: 


Maturity Amount = Principal Amount (1 + Interest Rate/Compounding Frequency) ^ (Compounding Frequency X Tenor in Years)

Is there a penalty for withdrawing a fixed deposit of ₹30 Lakhs before maturity?

Yes, an issuer may levy penalties for premature withdrawal of a fixed deposit. The exact penalty amount would depend on the terms and conditions set by the FD issuer.

Can I add more money to my fixed deposit of ₹30 Lakhs during the tenor?

Generally, you cannot add more money to an existing fixed deposit during its tenor. Fixed deposits are typically made for a specific amount and duration.

Is my fixed deposit amount of ₹30 Lakhs insured?

Yes, the Deposit Insurance and Credit Guarantee Corporation (DICGC) insures each FD for an amount of up to ₹5 Lakhs per depositor per bank.

Home
active_tab
Loan Offer
active_tab
Download App
active_tab
CIBIL Score
active_tab