Investing ₹4 Lakhs in an FD with a monthly payout could help you fulfil payments for certain recurring expenses. Considering a rate of 8.50%, you can receive up to ₹2,833 as interest per month on a fixed deposit of ₹4 Lakhs. Compare FD rates and choose the ideal tenor to maximise your payout and supplement your income.

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)

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Monthly Interest Income for an FD of ₹4 Lakhs

Here is a breakdown of the monthly interest income on an FD of ₹4 Lakhs for 5 years at different rates of interest:

Deposit Amount

Interest Rate (p.a.)

Monthly Interest Payout

₹4 Lakhs

6.00%

₹2,000

₹4 Lakhs

6.50%

₹2,167

₹4 Lakhs

7.00%

₹2,333

₹4 Lakhs

7.50%

₹2,500

₹4 Lakhs

8.00%

₹2,667

₹4 Lakhs

8.50%

₹2,833

₹4 Lakhs

9.00%

₹3,000

₹4 Lakhs

9.50%

₹3,167

₹4 Lakhs

10.00%

₹3,333

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

Monthly Interest Payout for an FD of ₹4 Lakhs from Banks and NBFCs

Comparing different issuers is crucial as the rates differ across banks and NBFCs. Check out the monthly interest on an FD of ₹4 Lakhs for a tenor of 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.

8.10%

₹2,700

8.35%

₹2,783

PNB Housing Finance Ltd.

7.65%

₹2,550

7.85%

₹2,617

Mahindra Finance Ltd.

8.10%

₹2,700

8.35%

₹2,783

LIC Housing Finance Ltd

7.75%

₹2,583

8.00%

₹2,667

Shriram Finance

8.47%

₹2,823

8.97%

₹2,990

ICICI Bank 

7.00%

₹2,333

7.50%

₹2,500

HDFC Bank 

7.00%

₹2,333

7.50%

₹2,500

IDFC First Bank 

7.00%

₹2,333

7.50%

₹2,500

Axis Bank 

7.10%

₹2,367

7.60%

₹2,533

IndusInd Bank 

7.25%

₹2,417

7.75%

₹2,583

YES Bank 

7.25%

₹2,417

8.00%

₹2,667

Jana Small Finance Bank 

7.25%

₹2,417

7.75%

₹2,583

Ujjivan Small Finance Bank

7.20%

₹2,400

7.70%

₹2,567

Kotak Mahindra Bank

6.20%

₹2,067

6.70%

₹2,333

SBI

6.50%

₹2,167

7.50%

₹2,500

AU Small Finance Bank

7.25%

₹2,417

7.75%

₹2,583

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

 

Choosing the right FD scheme is key to earning higher monthly interest income. On Bajaj Markets, you can compare different options with an online FD calculator and choose the one that offers the best returns. 

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.

Frequently Asked Questions

Are the monthly interest earnings on a fixed deposit of ₹4 Lakhs taxable?

Yes. As per Section 194A of the Income Tax Act, TDS is applicable if your annual interest exceeds ₹40,000. For senior citizens, the limit is ₹50,000.

What are the eligibility criteria for a fixed deposit of ₹4 Lakhs?

To invest in an FD of ₹4 Lakhs, you need to be an Indian citizen over 18 years. Some issuers also allow non-resident Indians to invest in a fixed deposit.

What is the maximum interest I can get on a fixed deposit of ₹4 Lakhs?

The maximum interest depends on the tenor and interest rate offered by the issuer.

Is there a minimum and maximum cap on the interest rate for a fixed deposit of ₹4 Lakhs?

No, there is no official limit on the interest rate for an FD. However, it depends on the policies and varies across issuers.

Is there a penalty for withdrawing the FD of ₹4 Lakhs before maturity?

Yes, the issuer may levy penalties for premature withdrawal of an FD. The penalty amount varies between banks and NBFCs.

What happens if I do not renew my fixed deposit of ₹4 Lakhs after maturity?

If you do not renew your ₹4 Lakhs fixed deposit, the issuer may contact you or renew the FD for the same tenor. They may also credit the funds to your bank account. The procedure varies depending on the issuer.

Can I add more money to my fixed deposit of ₹4 Lakhs during the tenor?

No, you cannot add more money to an existing fixed deposit during its tenor. However, you can open a new fixed deposit if you wish to invest more money.

Is my ₹4 Lakh fixed deposit amount insured?

Yes, the Deposit Insurance and Credit Guarantee Corporation (DICGC) insures FDs issued by banks up to ₹5 Lakhs.

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