Traditional investment tools, like Fixed Deposits, are often ignored by investors who prefer avenues that provide them with high returns. However, in April 2022, the Reserve Bank of India’s Monetary Policy Committee began raising the repo rates, which caused several financial institutions to raise their fixed deposit interest rates.

  

If you have accumulated a large amount of savings or have windfall funds, you can consider parking them in a fixed deposit. This investment tool is known to provide guaranteed returns, making it a stable and secure option for risk-averse investors. 

 

FDs will also provide you with guaranteed returns as it is not linked to the market. You can also opt for a monthly interest payout to improve your overall finances, as an added benefit.

 

Find out about the various applicable interest rates offered by our partners, including those of other FD issuers.

The table below indicates the monthly interest payout on a ₹50 Lakh fixed deposit you could earn across different banks and NBFCs for a tenor of 5 years:

*Disclaimer: The above-mentioned rates are effective as of 20 October 2023, and are subject to change at the issuer’s discretion.

Here is an estimate of the monthly interest payout you would receive on a ₹50 Lakh fixed deposit -

Here are some of the advantages you can enjoy by choosing FDs to park your funds in:

• Higher interest rates than a savings account

• Easy deposit withdrawal via partial or premature withdrawal options 

• Quick and hassle-free online application procedure

• Overdraft against your FD for all emergency requirements

• Auto-renewal facility offered by most FD issuers  

 

Now that you have a better understanding of the potential returns you could earn on a ₹50 Lakh FD, choose an issuer of your choice. On Bajaj Markets, you can browse multiple FD issuers who offer competitive interest rates, with some also offering tax-saving benefits u/s 80C of the Income Tax Act.  

Additionally, on the platform, you can also make use of the FD interest calculator to determine the potential returns you could earn on your fixed deposit investment.