Monthly Interest Payout on a ₹60 Lakh Fixed Deposit

Invest your savings in an FD at interest rates up to 9.14%* p.a. and opt for monthly interest payout!

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Unlock financial growth by strategically investing ₹60 Lakhs in a fixed deposit, a powerhouse for capital appreciation. Act decisively on interest rates, as they are the catalysts driving your returns.

Choose an FD with attractive interest rates to maximise profitability, securing your investment against inflation and ensuring a steady income stream. Seize the opportunity for substantial and action-driven wealth accumulation, making this a dynamic move for those prioritising tangible results and financial stability.

Deposit Amount

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Tenure

Months

Interest Rate

Interest Payout

Your Total Maturity Amount is

Total Investment

Total Interest Earned

Monthly Interest on a ₹60 Lakhs FD

To learn more about the monthly interest payout you could earn an FDof ₹60 Lakhs over a tenor of 5 years, refer to the table below -

Bank/NBFC/HFC	Non-Senior Citizen (p.a.)	Monthly Interest Payout	Senior Citizen (p.a.)	Monthly Interest Payout
Bajaj Finance Ltd.	8.05%	₹40,250	8.30%	₹41,500
PNB Housing Finance Ltd.	7.65%	₹38,250	7.95%	₹39,750
Mahindra Finance Ltd.	8.05%	₹40,250	8.30%	₹41,500
LIC Housing Finance Ltd	7.50%	₹37,500	7.75%	₹38,750
Shriram Finance	8.60%	₹43,000	9.14%	₹45,700
ICICI Bank	7.00%	₹35,000	7.50%	₹37,500
HDFC Bank	7.00%	₹35,000	7.50%	₹37,500
IDFC First Bank	7.00%	₹35,000	7.50%	₹37,500
Axis Bank	7.00%	₹35,000	7.75%	₹38,750
IndusInd Bank	7.25%	₹36,250	8.00%	₹40,000
YES Bank	7.25%	₹36,250	8.00%	₹40,000
Jana Small Finance Bank	7.25%	₹36,250	7.75%	₹38,750
Ujjivan Small Finance Bank	7.20%	₹36,000	7.70%	₹38,500
Kotak Mahindra Bank	6.20%	₹31,000	6.70%	₹33,500
SBI	6.50%	₹32,500	7.50%	₹37,500
AU Small Finance Bank	7.25%	₹36,250	7.75%	₹38,750

Disclaimer: The above-mentioned rates are effective as of 16th November 2023 and are subject to change as per the issuer’s discretion.

Monthly Interest Income on a ₹60 Lakhs Fixed Deposit

Here's the monthly interest income you could earn on a fixed deposit of ₹60 Lakhs across different interest rates:

Deposit Amount	Interest Rate (p.a.)	Monthly Interest Payout
₹60 Lakhs	6.00%	₹30,000
₹60 Lakhs	6.50%	₹32,500
₹60 Lakhs	7.00%	₹35,000
₹60 Lakhs	7.50%	₹37,500
₹60 Lakhs	8.00%	₹40,000
₹60 Lakhs	8.50%	₹42,500
₹60 Lakhs	9.00%	₹45,000
₹60 Lakhs	9.50%	₹47,500
₹60 Lakhs	10.00%	₹50,000

Secure your investments by booking a fixed deposit on Bajaj Markets. You can also use the FD calculator to determine the returns you could earn on your investment. All you need to do is enter values such as the deposit amount, investment tenor, and expected rate of interest. The tool will calculate the expected returns based on your inputs.

Check the Monthly Interest Rate on Your Fixed Deposits
Monthly Interest on ₹10 Crores FD	Monthly Interest on ₹5 Crore FD	Monthly Interest on ₹3 Crores FD
Monthly Interest on ₹2 Crore FD	Monthly Interest on ₹1.5 Crore FD	Monthly Interest on ₹1 Crore FD
Monthly Interest on ₹80 Lakh FD	Monthly Interest on ₹70 Lakhs FD	Monthly Interest on ₹50 Lakh FD
Monthly interest on ₹40 Lakh FD	Monthly Interest on ₹35 Lakh FD	Monthly Interest on ₹30 Lakhs FD
Monthly Interest on ₹25 Lakh FD	Monthly interest on ₹20 Lakh FD	Monthly interest on ₹15 Lakh FD
Monthly interest on ₹10 Lakh FD	Monthly Interest on ₹8 Lakh FD	Monthly Interest on ₹6 Lakhs FD
Monthly Interest on ₹5 Lakhs FD	Monthly Interest on ₹4 Lakhs FD	Monthly Interest on ₹3 Lakhs FD
Monthly interest on ₹2 Lakh FD	Monthly Interest on ₹1 Lakh FD	Monthly Interest on ₹10000 FD

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.

How much interest can I earn on a FD of ₹60 Lakhs?

The interest earned on a FD of ₹60 Lakhs depends on various factors such as the prevailing interest rates, the chosen tenor, and the type of FD.

What are the eligibility requirements to apply for ₹60 Lakhs FD?

Both Indian citizens, aged 18 and above, including both residents and non-residents, are eligible to apply for a ₹60 Lakhs FD, provided they meet the basic eligibility criteria.

What documents are required to invest in a ₹60 Lakhs FD?

To invest in a ₹60 Lakhs FD, you must provide KYC documents such as PAN card, proof of identity, proof of address, and passport-size photographs. The necessary documents may vary among issuers and applicants should verify requirements before applying.

What are my tax obligations on ₹60 Lakhs FD interest?

Interest earned on a ₹60 Lakhs FD is subject to TDS (Tax Deducted at Source) as per Section 194A of the Income Tax Act, 1961. If the annual interest income exceeds ₹40,000 (₹50,000 for senior citizens), a 10% TDS is deducted.

What are the benefits of opting for monthly interest payouts on a ₹60 Lakh FD?

A ₹60 Lakh FD with monthly payouts offers regular income, potential compounding benefits, and easier budgeting.

Can I set up automatic reinvestment of the monthly interest earned from my ₹60 Lakhs FD?

Yes, many banks and NBFCs offer the option to automatically reinvest the monthly interest earned from an FD. This ensures that your earnings are compounded, potentially leading to higher returns over time.

Can I change the frequency of interest payouts on my FD of ₹60 Lakhs?

In some cases, you may be able to change the frequency of interest payouts on your FD, depending on the terms and conditions set by the issuer. You can typically be given the choice between cumulative and non-cumulative FD. However, it is advisable to check with the bank or NBFC for specific details regarding this option.

Are there any penalties for premature withdrawal of a ₹60 Lakh FD with monthly interest payouts?

Premature withdrawal may incur penalties, depending on the terms of the FD agreement. These penalties could result in a reduction of the interest earned or other charges imposed by the bank or NBFC. It is recommended to review the terms and conditions of your FD carefully before making any premature withdrawals.