Earn interest up to 8.60% p.a. by investing in a Bajaj Finance Fixed Deposit | Rated CRISIL AAA/ STABLE and [ICRA]AAA(stable) Invest Now

Investing in a ₹6 lakh fixed deposit (FD) could be a great way to ensure financial stability and growth. FDs offer a secure avenue for parking funds, providing a fixed interest rate over a specified period. 

 

However, it's essential to check current interest rates across various issuers before investing, as rates can vary. This diligence ensures that you maximise your returns and make an informed decision tailored to prevailing market conditions, ultimately optimising the potential gains from your investment.

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 Payout on a ₹6 Lakhs Fixed Deposit

Refer to the table below for the monthly interest payout you could earn on a fixed deposit of ₹6 Lakhs 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%

₹4,025

8.30%

₹4,150

PNB Housing Finance Ltd. 

7.65%

₹3,825

7.95%

₹3,975

Mahindra Finance Ltd. 

8.05%

₹4,025

8.30%

₹4,150

LIC Housing Finance Ltd

7.50%

₹3,750

7.75%

₹3,875

Shriram Finance

8.60%

₹4,300

9.14%

₹4,570

ICICI Bank 

7.00%

₹3,500

7.50%

₹3,750

HDFC Bank 

7.00%

₹3,500

7.50%

₹3,750

IDFC First Bank 

7.00%

₹3,500

7.50%

₹3,750

Axis Bank 

7.00%

₹3,500

7.75%

₹3,875

IndusInd Bank 

7.25%

₹3,625

8.00%

₹4,000

YES Bank 

7.25%

₹3,625

8.00%

₹4,000

Jana Small Finance Bank 

7.25%

₹3,625

7.75%

₹3,875

Ujjivan Small Finance Bank

7.20%

₹3,600

7.70%

₹3,850

Kotak Mahindra Bank

6.20%

₹3,100

6.70%

₹3,350

SBI

6.50%

₹3,250

7.50%

₹3,750

AU Small Finance Bank

7.25%

₹3,625

7.75%

₹3,875

Disclaimer: The above-mentioned rates are effective as of 15th November 2023 and are subject to change as per the issuer’s discretion.

Monthly Interest Income on a ₹6 Lakhs Fixed Deposit

The monthly interest income varies considerably depending on the prevailing rate of interest. The table below highlights the payout you could receive on an FD of ₹6 Lakhs across different interest rates:

Deposit Amount

Interest Rate (p.a.)

Monthly Interest Payout

₹6 Lakhs

6.00%

₹3,000

₹6 Lakhs

6.50%

₹3,250

₹6 Lakhs

7.00%

₹3,500

₹6 Lakhs

7.50%

₹3,570

₹6 Lakhs

8.00%

₹4,000

₹6 Lakhs

8.50%

₹4,250

₹6 Lakhs

9.00%

₹4,500

₹6 Lakhs

9.50%

₹4,750

₹6 Lakhs

10.00%

₹4,800

A fixed deposit can serve as a reliable and secure investment option, fostering stability and growth. The fixed interest rates offered by FDs provide a predictable income stream, making them an ideal choice for risk-averse investors. By carefully considering current interest rates across different issuers , individuals can make informed decisions. This ensures that their hard-earned money is not just preserved but also has the potential for modest yet steady expansion over time.

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, tradenames, 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 ₹6 Lakh FD

According to Section 194A of the Income Tax Act, you will have to pay 10% TDS on your fixed deposit returns if the annual interest income goes beyond ₹40,000.

To open a fixed deposit account, you need to fulfil the eligibility criteria set out by the FD issuer bank or NBFC. Most financial institutions issuing FDs require you to be an Indian citizen above 18 years of age to invest.

To open a fixed deposit account, you are required to submit your PAN card, required KYC documents, identity proof, as well as your passport-sized photographs to the FD issuer.

The amount of monthly interest for a ₹6 Lakh fixed deposit you can expect is around ₹3,400, if you invest for 5 years. This does depend on the issuer, the rate you get, and the tenor you choose when investing.  

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