Considering an investment of ₹35 lakhs in a fixed deposit (FD) presents a compelling opportunity for secure capital growth. The key factor in this decision is the interest rate associated with the FD.
Booking an FD with a competitive interest rate is crucial, as it directly impacts the returns over the investment period. Opting for a higher interest rate not only safeguards against inflation but also ensures a steady income stream.
The table below indicates the monthly interest payout you could earn on a fixed deposit of ₹35 Lakhs 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% |
₹23,479 |
8.30% |
₹24,208 |
PNB Housing Finance Ltd. |
7.65% |
₹22,313 |
7.95% |
₹23,188 |
Mahindra Finance Ltd. |
8.05% |
₹23,479 |
8.30% |
₹24,208 |
LIC Housing Finance Ltd |
7.50% |
₹21,875 |
7.75% |
₹22,604 |
Shriram Finance |
8.60% |
₹25,083 |
9.14% |
₹26,658 |
ICICI Bank |
7.00% |
₹20,417 |
7.50% |
₹21,875 |
HDFC Bank |
7.00% |
₹20,417 |
7.50% |
₹21,875 |
IDFC First Bank |
7.00% |
₹20,417 |
7.50% |
₹21,875 |
Axis Bank |
7.00% |
₹20,417 |
7.75% |
₹22,604 |
IndusInd Bank |
7.25% |
₹21,416 |
8.00% |
₹23,333 |
YES Bank |
7.25% |
₹21,416 |
8.00% |
₹23,333 |
Jana Small Finance Bank |
7.25% |
₹21,416 |
7.75% |
₹22,604 |
Ujjivan Small Finance Bank |
7.20% |
₹21,000 |
7.70% |
₹22,458 |
Kotak Mahindra Bank |
6.20% |
₹18,083 |
6.70% |
₹19,542 |
SBI |
6.50% |
₹18,958 |
7.50% |
₹21,875 |
AU Small Finance Bank |
7.25% |
₹21,416 |
7.75% |
₹22,604 |
Disclaimer: The above-mentioned rates are effective as of 16th November 2023 and are subject to change as per the issuer’s discretion.
Refer to the table below for the monthly interest income you could earn on an FD of ₹35 Lakhs across different interest rates:
Deposit Amount |
Interest Rate (p.a.) |
Monthly Interest Payout |
₹35 Lakhs |
6.00% |
₹17,500 |
₹35 Lakhs |
6.50% |
₹18,958 |
₹35 Lakhs |
7.00% |
₹20,417 |
₹35 Lakhs |
7.50% |
₹21,875 |
₹35 Lakhs |
8.00% |
₹23,333 |
₹35 Lakhs |
8.50% |
₹24,792 |
₹35 Lakhs |
9.00% |
₹26,250 |
₹35 Lakhs |
9.50% |
₹27,708 |
₹35 Lakhs |
10.00% |
₹29,167 |
Now that you have an understanding of the potential returns you could earn from an ₹35 Lakhs fixed deposit, secure your investment by booking an FD on Bajaj Markets. The process is quite straightforward and hassle-free, allowing you to complete it entirely online. You can also use the FD calculator to determine the returns you could earn on your investment.
Check the Monthly Interest Rate on your Fixed Deposits |
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Yes, as per Section 194A of the Income Tax Act, you are required to pay 10% TDS on your fixed deposit, if the annual interest income exceeds ₹40,000. As you can see, the annual interest income on your ₹35 lakhs fixed deposit exceeds this amount.
Therefore, you are liable to pay tax on this interest.
With a fixed deposit of ₹35 Lakhs, you will get assured return on your deposits in the form of interest. With most leading issuers, as per the table, you can expect around ₹20,000, as a monthly payout, if you invest today.
For booking your bank fixed deposit, you will be required to submit your PAN card, your KYC documents, proof of identity, and passport-sized photographs to the fixed deposit issuer.
Fixed deposits issuing financial institutions set some eligibility criteria that you need to fulfil for a fixed deposit. Most financial institutions require you to be an Indian citizen with the age of at least 18 years to invest in an FD.