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.

Deposit Amount
Tenure
Months
Interest Rate
%
Interest Payout
Your Total Maturity Amount is
Your Total Maturity Amount is
Total Investment
Total Interest Earned

Monthly Interest on ₹50 Lakh FD

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:

Bank/NBFC/HFC

Non-Senior Citizen (p.a.)

Monthly Interest Payout

Senior Citizen (p.a.)

Monthly Interest Payout

Bajaj Finance Ltd. 

8.05%

₹ 33,542

8.30%

₹ 34,583

PNB Housing Finance Ltd. 

7.65%

₹ 31,875

7.95%

₹ 33,125

Mahindra Finance Ltd. 

8.05%

₹ 33,542

8.30%

₹ 34,583

LIC Housing Finance

7.75%

₹ 32,292

8.00%

₹ 33,333

Shriram Finance

8.50%

₹ 35,417

9.00%

₹ 37,500

ICICI Bank 

7.00%

₹ 29,167

7.50%

₹ 31,250

HDFC Bank 

7.00%

₹ 29,167

7.50%

₹ 31,250

IDFC First Bank 

7.00%

₹ 29,167

7.50%

₹ 31,250

Axis Bank 

7.00%

₹ 29,167

7.75%

₹ 32,292

IndusInd Bank 

7.25%

₹ 30,208

8.00%

₹ 33,333

YES Bank

7.25%

₹ 30,208

8.00%

₹ 33,333

Jana Small Finance Bank 

7.25%

₹ 30,208

7.75%

₹ 32,292

Kotak Mahindra Bank

6.20%

₹ 25,833

6.25%

₹ 26,042

SBI

6.50%

₹ 27,083

7.50%

₹ 31,250

AU Small Finance Bank

7.25%

₹ 30,208

7.75%

₹ 32,292

Ujjivan Small Finance Bank

7.20%

₹ 30,000

7.70%

₹ 32,083

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

Monthly Interest for ₹50 Lakh in Fixed Deposit

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

Deposit Amount

Interest Rate (p.a.)

Monthly Interest Payout

₹50 Lakh

3.00%

₹ 12,500

₹50 Lakh

3.50%

₹ 14,583

₹50 Lakh

4.00%

₹ 16,667

₹50 Lakh

4.50%

₹ 18,750

₹50 Lakh

5.00%

₹ 20,833

₹50 Lakh

5.50%

₹ 22,917

₹50 Lakh

6.00%

₹ 25,000

₹50 Lakh

6.50%

₹ 27,083

₹50 Lakh

7.00%

₹ 29,167

₹50 Lakh

7.50%

₹ 31,250

₹50 Lakh

8.00%

₹ 33,333

₹50 Lakh

8.50%

₹ 35,417

₹50 Lakh

9.00%

₹ 37,500

₹50 Lakh

9.50%

₹ 39,583

₹50 Lakh

10.00%

₹ 41,667

Benefits of Opting for Monthly Payout in FDs

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.

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, trade names, 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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FAQs on Monthly Interest for ₹50 Lakh FD

Is there a tax applicable on the interest earned on a ₹50 Lakh FD?

Yes. According to the Income Tax Act, 1961, if your annual FD interest exceeds ₹40,000, a minimum of 10% TDS will be deducted.

How much interest will I get on a ₹50 Lakh fixed deposit?

The monthly payout on a ₹50 Lakh FD depends on the interest rate offered by the bank or NBFC, and the tenor.

What are the documents required for a ₹50 Lakh fixed deposit?

To invest in an FD of ₹50 Lakhs, you need to provide documents such as a PAN card, KYC documents, identity proof, and passport-size photographs.

What are the eligibility criteria for a ₹50 Lakh fixed deposit?

Indian citizens,  non-resident Indians, and overseas citizens of India, aged 18 years and above, are eligible. However, the specific criteria may vary across issuers.

How can I calculate interest on a ₹50 Lakh FD?

You can calculate monthly interest for a ₹50 Lakh FD either manually via simple/compound interest or by using an online FD interest calculator.

Are there any penalties for premature withdrawal of a ₹50 Lakh FD?

Yes. Penalties for premature FD withdrawal vary across issuers. Typically, they're deducted from the interest earned, with the remainder paid upon withdrawal.

What happens to the interest if I choose to reinvest it instead of receiving monthly payouts on my ₹50 Lakh FD?

If you reinvest the interest earned from your ₹50 Lakh FD, it is added to the principal amount and earns interest as per the prevailing rates. This allows your investment to grow faster over time, potentially increasing your overall returns.

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