Embark on a path of robust financial growth with a ₹70 Lakhs fixed deposit, a strategic investment avenue. Take charge by focusing on the pivotal element - interest rates - that shapes your returns.


Opt for an FD offering competitive interest rates to amplify profitability, safeguarding your investment against inflation and securing a consistent income flow with the monthly payout option.

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 a ₹70 Lakhs FD

To learn more about the monthly interest payout you could earn an FDof ₹70 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%

₹46,958

8.30%

₹48,417

PNB Housing Finance Ltd. 

7.65%

₹44,625

7.95%

₹46,375

Mahindra Finance Ltd. 

8.05%

₹46,958

8.30%

₹48,417

LIC Housing Finance Ltd

7.50%

₹43,750

7.75%

₹45,208

Shriram Finance

8.60%

₹50,167

9.14%

₹53,317

ICICI Bank 

7.00%

₹40,833

7.50%

₹43,750

HDFC Bank 

7.00%

₹40,833

7.50%

₹43,750

IDFC First Bank 

7.00%

₹40,833

7.50%

₹43,750

Axis Bank 

7.00%

₹40,833

7.75%

₹45,208

IndusInd Bank 

7.25%

₹42,292

8.00%

₹46,667

YES Bank 

7.25%

₹42,292

8.00%

₹46,667

Jana Small Finance Bank 

7.25%

₹42,292

7.75%

₹45,208

Ujjivan Small Finance Bank

7.20%

₹42,000

7.70%

₹44,917

Kotak Mahindra Bank

6.20%

₹36,167

6.70%

₹39,083

SBI

6.50%

₹37,917

7.50%

₹43,750

AU Small Finance Bank

7.25%

₹42,292

7.75%

₹45,208

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 ₹70 Lakhs Fixed Deposit

Here's the monthly interest income you could earn on a fixed deposit of ₹70 Lakhs across different interest rates:

Deposit Amount

Interest Rate (p.a.)

Monthly Interest Payout

₹70 Lakhs

6.00%

₹35,000

₹70 Lakhs

6.50%

₹37,917

₹70 Lakhs

7.00%

₹40,833

₹70 Lakhs

7.50%

₹43,750

₹70 Lakhs

8.00%

₹46,667

₹70 Lakhs

8.50%

₹49,583

₹70 Lakhs

9.00%

₹52,500

₹70 Lakhs

9.50%

₹55,417

₹70 Lakhs

10.00%

₹58,333

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.

 

Now that you have an understanding of the monthly interest payout you could receive on a ₹70 Lakhs FD, secure your investments by booking a fixed deposit on Bajaj Markets.

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 a Monthly Interest for ₹70 Lakh FD

Is the interest earned on a ₹70 Lakh FD taxed?

Yes, TDS is deducted if your interest income exceeds ₹40,000 (₹50,000 for senior citizens). The total interest earnings are taxed according to your income tax slab.

What are my earnings from a fixed deposit of ₹70 Lakhs?

Your earnings from a ₹70 Lakh FD depend on various factors such as the prevailing interest rate, the type of FD, and the tenor chosen. The interest rate is influenced by market conditions and your profile as an investor.

What documents should I submit to book an FD of ₹70 Lakhs?

To open an FD of ₹70 Lakhs, you need to submit basic KYC documents such as your PAN card, ID proof, and passport-size photographs. Additional documents may be required based on the policies of the issuer.

Am I eligible to book a fixed deposit of ₹70 Lakhs?

You can be eligible to book an FD of ₹70 Lakhs if you meet the basic eligibility criteria.  These include being a citizen of India, a non-resident citizen of India, or an overseas citizen of India, and being at least 18 years old.

How can I calculate interest on a ₹70 Lakh FD?

You can use an online FD interest calculator to estimate the interest earned on your ₹70 Lakh. Simply enter the investment amount, applicable interest rate, and tenor to instantly determine your monthly earnings and maturity amount.

Are there any penalties for premature withdrawal of an FD of ₹70 Lakh with monthly interest payouts?

Yes, the specific penalty amount varies depending on the terms and conditions set by the issuing bank or NBFC.

Can I reinvest the monthly interest earned from an FD of ₹70 Lakhs?

Yes. Some banks and NBFCs offer the option to automatically reinvest the FD amount, allowing for compounded growth over time.

Can the interest payout frequency be customised for an FD of ₹70 Lakhs?

Yes. Most banks and NBFCs offer flexible interest payout frequencies, including monthly, quarterly, semi-annually, or annually, based on depositor preferences.

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