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.

Deposit Amount
Tenure
Months
Interest Rate
%
Interest Payout
Your Total Maturity Amount is
Your Total Maturity Amount is
Total Investment
Total Interest Earned

Monthly Interest on ₹30 Lakh FD

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

Bajaj Finance Ltd. 

8.05%

₹ 20,125

8.30%

₹ 20,750

PNB Housing Finance Ltd. 

7.65%

₹ 19,125

7.95%

₹ 19,875

Mahindra Finance Ltd. 

8.05%

₹ 20,125

8.30%

₹ 20,750

LIC Housing Finance

7.75%

₹ 19,375

8.00%

₹ 20,000

Shriram Finance

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

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

6.25%

₹ 15,625

SBI

6.50%

₹ 16,250

7.50%

₹ 18,750

AU Small Finance Bank

7.25%

₹ 18,125

7.75%

₹ 19,375

Ujjivan Small Finance Bank

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.

Monthly Interest for ₹30 Lakh in Fixed Deposit

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.

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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FAQs on Monthly Interest for ₹30 Lakh Fixed Deposit

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

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. 

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

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.

Is there a minimum and maximum cap on the monthly interest for a ₹30 Lakh Fixed Deposit?

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. 

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

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. 

What are the eligibility criteria for opening a ₹30 Lakh fixed deposit?

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.

How to calculate FD interest on ₹30 Lakhs?

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.

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

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.

Can I add more money to my ₹30 Lakh fixed deposit 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, and additional deposits are not allowed once the FD is opened.

Is my ₹30 Lakh fixed deposit amount insured?

The Deposit Insurance and Credit Guarantee Corporation (DICGC) insures each FD for up to ₹5 Lakhs per depositor per bank. 

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