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:
Bank/NBFC/HFC |
Non-Senior Citizen (p.a.) |
Monthly Interest Payout |
Senior Citizen (p.a.) |
Monthly Interest Payout |
8.05% |
₹ 33,542 |
8.30% |
₹ 34,583 |
|
7.65% |
₹ 31,875 |
7.95% |
₹ 33,125 |
|
8.05% |
₹ 33,542 |
8.30% |
₹ 34,583 |
|
LIC Housing Finance |
7.75% |
₹ 32,292 |
8.00% |
₹ 33,333 |
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 |
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 |
7.25% |
₹ 30,208 |
7.75% |
₹ 32,292 |
|
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.
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 |
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.
Check Monthly Interest Rates on Your Fixed Deposits |
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Yes. According to the Income Tax Act, 1961, if your annual FD interest exceeds ₹40,000, a minimum of 10% TDS will be deducted.
The monthly payout on a ₹50 Lakh FD depends on the interest rate offered by the bank or NBFC, and the tenor.
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.
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.
You can calculate monthly interest for a ₹50 Lakh FD either manually via simple/compound interest or by using an online FD interest calculator.
Yes. Penalties for premature FD withdrawal vary across issuers. Typically, they're deducted from the interest earned, with the remainder paid upon withdrawal.
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.