Monthly Interest for ₹5 Crore FD

You can extend your ₹5 Crores FD when it reaches a period of maturity. You can also opt for an auto-renewal feature for your ₹5 Crores FD. Under this feature, the bank itself automatically renews your fixed deposit for the same term and interest rate upon maturity.

Senior citizen interest rates on a ₹5 Crores FD range from 2.55% -8.50% p.a. Most banks and NBFCs offer an additional interest rate for senior citizens of 50 bps over the regular fixed deposit interest rates.

You can simply calculate the monthly interest on ₹5 Crores fixed deposit by using the free Fixed Deposit Calculator. The calculator helps you to instantly know the interest amount on your ₹5 Crores fixed deposit along with the maturity amount. 

 

To calculate interest on your ₹5 Crores fixed deposit using this online tool, select the customer type. You will receive the options of senior citizens and non-senior citizens.

Select the FD type between a cumulative or a non-cumulative FD.

 

Now, enter your deposit amount and select your desired investment tenor, ranging from a week to 10 years. The online calculator will now display the interest earned and the total amount at maturity.

 

Alternatively, you can also calculate the FD interest rate by using the mathematical formula: 

M= P + P {(1 + i/100) t – 1}, where P equals the principal amount, i equals the rate of interest per period, and t equals the tenor.

The eligibility criteria to open a ₹5 Crores fixed deposit requires investors to be 18 years of age or above. Moreover, only Indian residents are eligible to open a fixed deposit account with Indian financial institutions. 

 

Further, both salaried individuals and self-employed individuals are eligible to open a fixed deposit of ₹5 Crores.

You will have to submit a driving licence, Aadhar card, Voter’s ID card or a Government-issued ID card to prove your identity. Additionally, you will also have to submit an electricity bill, telephone bill or passport as address proof. In the case of a non-individual you will have to submit Registration/Incorporation certificate, Memorandum or Articles of Association, Board resolution for opening FD, Partnership deed, HUF deed and a recent bank account statement.