Unlike cumulative FDs that offer earnings at maturity, non-cumulative FDs provide monthly payouts and offer a steady source of income. This can be a welcome addition to your finances when you have recurring expenses to fulfil. 

 

With some issuers offering interest rates of up to 9% p.a., the monthly interest on an FD of ₹35 Lakhs could come to ₹26,250 when booked for 5 years. Opting for an investment with regular payouts could help build financial security over time. 

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 ₹35 Lakhs

Along with factors like the tenor and the investment amount, the passive income you earn on an FD depends on the interest rates. With a higher rate, you could receive a sizable amount as the monthly payout.

 

Refer to the following table to find out the monthly interest paid out on an FD of ₹35 Lakhs for 5 years 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

Note: The monthly interest payouts mentioned above are indicative in nature; the exact returns will depend on the issuer’s policies.

 

Monthly Interest Payout on for an FD of ₹35 Lakhs from Banks and NBFCs

To maximise your payouts, start an FD with an issuer who offers the highest interest rates. The table below indicates the amount you could earn as interest per month on a fixed deposit of ₹35 Lakhs over 5 years from different issuers:  

Bank/NBFC/HFC

Non-senior Citizen (p.a.)

Monthly Interest Payout

Senior Citizen (p.a.)

Monthly Interest Payout

Bajaj Finance Ltd.

8.10%

₹23,625

8.35%

₹24,354

PNB Housing Finance Ltd.

7.65%

₹22,313

7.85%

₹22,896

Mahindra Finance Ltd. 

8.10%

₹23,625

8.35%

₹24,354

LIC Housing Finance Ltd

7.75%

₹22,604

8.00%

₹23,333

Shriram Finance

8.47%

₹24,704

8.97%

₹26,163

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 

7.10%

₹20,708

7.60%

₹22,167

IndusInd Bank 

7.25%

₹21,146

7.75%

₹22,604

YES Bank 

7.25%

₹21,146

8.00%

₹23,333

Jana Small Finance Bank 

7.25%

₹21,146

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%

₹21,146

7.75%

₹22,604

Ujjivan Small Finance Bank

7.20%

₹21,000

7.70%

₹22,458

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

 

Keeping in mind the potential returns you can receive on an FD of ₹35 Lakhs, book a scheme offering the highest rate on Bajaj Markets. The process is hassle-free and you can complete it entirely online. 

 

Use the FD calculator to determine the returns you could earn on your investment and make an informed decision.

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

Do I have to pay tax on the interest earned on an FD of ₹35 Lakhs?

Yes. As per Section 194A of the Income Tax Act, 1961, you need to pay 10% TDS on your annual FD interest if it exceeds ₹40,000. For a senior citizen, this limit extends to interest income exceeding ₹50,000.

What earnings can I get with a fixed deposit of ₹35 Lakhs?

With a fixed deposit of ₹35 Lakhs, you will get assured return on your deposits in the form of interest. For instance, at an interest rate of 8% p.a., the total interest earned over a 3-year tenor would amount to around ₹9 Lakhs. This holds true if you sign up for the payout at maturity.

What are the documents required to book an FD of ₹35 Lakhs?

For booking a fixed deposit of ₹35 Lakhs, you need to submit your PAN card, KYC documents, proof of identity, and passport-sized photographs. However, this may differ across issuers.

What are the eligibility criteria to book a fixed deposit of ₹35 Lakhs?

The eligibility criteria that you need to fulfil for a fixed deposit varies depending on the issuer of your choice. Most of them require you to be an Indian citizen and at least 18 years of age to invest in an FD.

Is there a penalty for withdrawing a fixed deposit of ₹35 Lakhs before maturity?

Yes, there is typically a penalty for withdrawing a fixed deposit early, which reduces the accrued interest. The penalty amount varies based on the issuer’s terms.

Can I take a loan against my ₹35 Lakh fixed deposit?

Depending on the issuer, you could take a loan against the fixed deposit's value. 

What happens if I do not renew my fixed deposit of ₹35 Lakhs after maturity?

If you do not renew your fixed deposit after maturity, the issuer will credit the funds automatically to your linked savings or current account. However, check with your bank or NBFC about their specific policies.

Is my fixed deposit of ₹35 Lakhs insured?

Fixed deposits issued by banks are usually insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC) for up to ₹5 Lakhs per depositor. 

Can the interest payout frequency be customised for an FD of ₹35 Lakhs?

Yes, most banks and NBFCs offer flexibility in choosing the interest payout frequency for a fixed deposit of ₹35 Lakhs. You can typically opt for monthly, quarterly, half-yearly, or annual interest payouts based on your preference and financial requirements.

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