Are you someone who has accumulated a notable corpus over a long period of time? Then opting for an FD could be the right way to go about it.
Opting for monthly interest payouts can help ensure you get a steady stream of income each month, which can finance your various expenses. These can include purchasing a new vehicle, property, or luxury products, among others. Furthermore, such funds can also be useful for all kinds of emergencies, such as for medical purposes, repairs and renovations, among others.
Find out more about the monthly interest payout on ₹30 Lakh FD at different rates of interest and across different banks and NBFCs.
The table below indicates the monthly interest payout on a ₹30 Lakh fixed deposit you could earn across different banks and NBFCs for a tenor of 5 years:
Bank/NBFC/HFC |
Non-Senior Citizen (p.a.) |
Monthly Interest Payout |
Senior Citizen (p.a.) |
Monthly Interest Payout |
8.05% |
₹ 20,125 |
8.30% |
₹ 20,750 |
|
7.65% |
₹ 19,125 |
7.95% |
₹ 19,875 |
|
8.05% |
₹ 20,125 |
8.30% |
₹ 20,750 |
|
LIC Housing Finance |
7.75% |
₹ 19,375 |
8.00% |
₹ 20,000 |
8.50% |
₹ 21,250 |
9.00% |
₹ 22,500 |
|
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 |
8.00% |
₹ 20,000 |
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 |
6.25% |
₹ 15,625 |
SBI |
6.50% |
₹ 16,250 |
7.50% |
₹ 18,750 |
7.25% |
₹ 18,125 |
7.75% |
₹ 19,375 |
|
7.20% |
₹ 18,000 |
7.70% |
₹ 19,250 |
*Disclaimer: The above-mentioned rates are effective as of 20 October 2023 and are subject to change as per the issuer’s discretion.
Here is an estimate of the monthly interest payout you would receive on a ₹30 Lakh fixed deposit -
Deposit Amount |
Interest Rate (p.a.) |
Monthly Interest Payout |
₹30 Lakh |
3.00% |
₹ 7,500 |
₹30 Lakh |
3.50% |
₹ 8,750 |
₹30 Lakh |
4.00% |
₹ 10,000 |
₹30 Lakh |
4.50% |
₹ 11,250 |
₹30 Lakh |
5.00% |
₹ 12,500 |
₹30 Lakh |
5.50% |
₹ 13,750 |
₹30 Lakh |
6.00% |
₹ 15,000 |
₹30 Lakh |
6.50% |
₹ 16,250 |
₹30 Lakh |
7.00% |
₹ 17,500 |
₹30 Lakh |
7.50% |
₹ 18,750 |
₹30 Lakh |
8.00% |
₹ 20,000 |
₹30 Lakh |
8.50% |
₹ 21,250 |
₹30 Lakh |
9.00% |
₹ 22,500 |
₹30 Lakh |
9.50% |
₹ 23,750 |
₹30 Lakh |
10.00% |
₹ 25,000 |
Now that you have a better understanding of the estimated returns you can earn on a ₹30 Lakh FD, choose from your preferred issuer and get started with an FD today!
You can also make use of the FD interest calculator to determine the potential returns you could earn on your fixed deposit investment.
Check Monthly Interest Rates on Your Fixed Deposits |
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Different banks and NBFCs offer varied interest rates on a ₹30 Lakhs fixed deposit. Compare the interest rates offered by issuers before making an investment.
Yes, the interest earned on an FD of ₹30 Lakhs is taxable. However, you can save taxes up to ₹1.5 Lakhs by choosing a tax saver FD.
No, there is no minimum or maximum cap fixed deposit interest per month. You will regularly receive monthly interest payouts at a fixed rate for the tenor selected.
The documents required for a ₹30 Lakh FD include your identity, signature, and address proof. These documents generally include your passport, voter ID card, Aadhaar card, ration card, and driving license. However, this requirement may vary across issuers and it’s advised to check these parameters beforehand.
For investing in a ₹30 Lakhs fixed deposit, you must be at least 18 years old, and you should possess a PAN card. If you are a member of a Hindu Undivided Family (HUF), you should have a separate PAN card issued in your name.
You can open a ₹30 Lakh fixed deposit even if you are a minor, but you will need a legal guardian to invest in your stead.
You can calculate the monthly interest on a ₹30 Lakhs FD online or manually. If you choose the online route, select your customer type and the deposit type. Then, enter the FD amount and maturity period, and then the calculator shows the interest payout and your total earnings.
You can also calculate your interest manually using the formula A = P (1 + r/n) ^(n*t). Here, A is the maturity amount, P is the Principal Amount, r is the interest rate, and n is the compounding frequency, and t refers to the years.
Yes, there might be penalties for premature withdrawal of a fixed deposit. The exact penalty amount would depend on the terms and conditions set by the FD issuer.
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, and additional deposits are not allowed once the FD is opened.
The Deposit Insurance and Credit Guarantee Corporation (DICGC) insures each FD for up to ₹5 Lakhs per depositor per bank.