Monthly Interest Payout for an FD of ₹75 Lakhs

Deposit Amount

Interest Rate

Tenure

Months

Interest Payout

At Maturity
At Maturity
Monthly
Quaterly
Half Yearly
Yearly

Investment Amount

Interest Rate

Total Interest Amount

Total Payout (Principal + Interest)

Get Returns up to 9.40%* p.a.

Investing a large amount, like ₹75 Lakhs, in FDs with a monthly payout option could provide a steady interest income. For instance, you could earn approximately ₹35,000 per month on an FD of ₹75 Lakhs for 5 years at 8% p.a. Compare rates from leading banks and NBFCs to maximise your earnings.

Monthly Interest on a Fixed Deposit of ₹75 Lakhs

The interest amount varies depending on the rate offered. Check out the table below to understand the impact of rates on interest per month on an FD of ₹75 Lakhs. The tenure assumed is 5 years.

Deposit Amount

Interest Rate (p.a.)

Monthly Interest Payout

₹75 Lakhs

6.00%

₹37,500

₹75 Lakhs

6.50%

₹40,625

₹75 Lakhs

7.00%

₹43,750

₹75 Lakhs

7.50%

₹46,875

₹75 Lakhs

8.00%

₹50,000

₹75 Lakhs

8.50%

₹53,125

₹75 Lakhs

9.00%

₹56,250

₹75 Lakhs

9.50%

₹59,375

₹75 Lakhs

10.00%

₹62,500

Note: The above table is for illustrative purposes. The actual returns depend on the bank or NBFCs policies.

Interest on an FD of ₹75 Lakhs Offered by Banks and NBFCs

Refer to the following table for monthly interest on an FD of ₹75 Lakhs for 5 years across different banks and NBFCs:

Bank/NBFC/HFC

Non-senior Citizen (p.a.)

Monthly Interest Payout

Senior Citizen (p.a.)

Monthly Interest Payout

Bajaj Finance Ltd. 

8.10%

₹50,625

8.35%

₹52,188

PNB Housing Finance Ltd. 

7.60%

₹47,500

7.80%

₹48,750

Mahindra Finance Ltd.

8.10%

₹50,625

8.35%

₹52,188

LIC Housing Finance

7.75%

₹48,438

8.00%

₹50,000

Shriram Finance

8.47%

₹52,937

8.97%

₹56,062

ICICI Bank 

7.00%

₹43,750

7.60%

₹47,500

HDFC Bank 

7.20%

₹45,000

7.70%

₹48,125

IDFC First Bank 

7.00%

₹43,750

7.50%

₹46,875

Axis Bank 

7.00%

₹43,750

7.75%

₹48,437

IndusInd Bank 

7.25%

₹45,312

7.75%

₹48,437

YES Bank

7.25%

₹45,312

8.00%

₹50,000

Jana Small Finance Bank 

7.25%

₹45,312

7.75%

₹48,437

Kotak Mahindra Bank

7.00%

₹43,750

7.60%

₹47,500

SBI

6.50%

₹40,625

7.50%

₹46,875

AU Small Finance Bank

7.25%

₹45,312

7.75%

₹48,437

Ujjivan Small Finance Bank

7.20%

₹45,000

7.70%

₹48,125

Note: The above interest rates are as of June 2024 and subject to change at the bank or NBFCs’ discretion.

Interest Payout on ₹75 Lakhs FD Based on Tenure

Here’s a table detailing the maturity amounts for a ₹75 Lakh FD at an interest rate of 7.70% p.a., with a breakdown across different tenures:

Tenure

Yearly Payout

1 Year (12 Months)

₹80,77,500

2 Years (24 Months)

₹86,99,468

3 Years (36 Months)

₹93,69,326

4 Years (48 Months)

₹1,00,90,765

5 Years (60 Months)

₹1,08,67,754

Note: The above-mentioned rates are subject to change at the bank or NBFC's discretion.

NRI Fixed Deposit Rates for ₹75 Lakhs Offered by Banks and NBFCs

Non-resident Indians (NRIs) can invest in fixed deposits through Non-resident External (NRE) and Non-resident Ordinary (NRO) accounts. The table below highlights the interest rates offered for NRE and NRO fixed deposits:

Bank/NBFC/HFC

NRO

NRE

Bajaj Finance Ltd.

8.35%

-

ICICI Bank

7.25%

7.25%

HDFC Bank

7.40%

7.40%

IDFC First Bank

7.75%

7.75%

Axis Bank

7.10%

7.10%

IndusInd Bank

7.99%

7.99%

YES Bank

8.00%

8.00%

Jana Small Finance Bank

8.25%

8.25%

Kotak Mahindra Bank

7.50%

7.50%

SBI

7.25%

7.25%

AU Small Finance Bank

8.00%

8.00%

Ujjivan Small Finance Bank

8.25%

8.25%

Note: The above-mentioned rates are subject to change at the bank or NBFC's discretion.

TDS on a Fixed Deposit of ₹75 Lakhs

You can determine your actual returns on your FD only after deducting your tax liabilities. Here are some of the regulations that apply to investment in fixed deposits:

  • The bank or NBFC will impose Tax Deducted at Source (TDS) if your annual interest income is more than ₹40,000

  • Furnish Form 15G or 15H to avoid any deduction if you fall under no income tax bracket

  • A standard TDS rate of 10% will be applicable if you have furnished your PAN details 

  • A TDS of 20% will be applicable if you have not submitted your PAN card 

How to Calculate Interest on an FD of ₹75 Lakhs

To compute potential returns on your FD investment, utilise the facility provided above. Follow these simple steps to get an estimate for monthly interest on an FD of ₹75 Lakhs:

  1. Enter the investment amount, tenure, and interest rate

  2. Opt for the ‘Monthly’ option under the ‘Interest Payout’ section

  3. You can check the estimate of total and monthly interest payouts

Maturity Amount Calculation Example

Here’s how you can manually calculate the monthly interest earned for a fixed deposit of ₹75 Lakhs at an interest rate of 7.70% p.a. for a period of 3 years (36 months):

  • Monthly Interest Earned = Principal × Interest Rate / 12

  • Monthly Interest Earned = ₹75,00,000 × 7.70% / 12

  • Monthly Interest Earned = ₹5,77,500 / 12

  • Monthly Interest Earned = ₹48,125

 

Therefore, the monthly interest earned on an FD of ₹75 Lakhs at 7.70% p.a. would be ₹48,125

 

Total Interest Earned Upon Maturity

  • Total Interest Earned = Monthly Interest × Number of Months

  • Total Interest Earned = ₹48,125 × 36

  • Total Interest Earned = ₹17,32,500

 

The total interest accumulated over the 3-year period would be ₹17,32,500, with a monthly payout of ₹48,125

 

Note: This is an estimate. Actual figures may vary based on the bank or NBFC's specific calculation methods.

Penalty for Premature Withdrawal from a Fixed Deposit of ₹75 Lakhs

If you withdraw funds from your investment before maturity, the bank or NBFC will impose a penalty, leading to reduced earnings. Premature withdrawals often result in lower interest rates than initially offered. Some financial institutions may also charge an additional penalty on the withdrawn amount.

FD Premature Withdrawal Example

You invest ₹75 Lakhs in a fixed deposit at 7.70% p.a. for 3 years but withdraw after 1 year. The interest rate then drops to 6.70% p.a., and with a 1% penalty, the final rate is reduced to 5.70% p.a., resulting in lower returns.

Parameter

Details

Principal Amount Invested 

₹75,00,000

Maturity After 3 Year

₹ 93,69,326

Interest Rate at the Time of Booking

7.70% p.a.

Effective Interest Rate for 1 Year Tenure

6.70% p.a.

Premature Withdrawal Penalty Rate

1% p.a.

Final Interest Rate 

5.70% p.a.

Final Amount Payable

₹79,27,500

Note: The figures above are for illustration purposes only. The actual penalty charges may vary depending on the bank or NBFC’s policies.

Disclaimer

The information provided by BFDL is related to the rates provided by Banks and Deposit taking NBFCs as available from public domain and under no circumstances is intended to be source of advice or recommendation of any financial investment advice or endorsement of any sort. BFDL disclaims any responsibility or liability regarding inaccuracies, omissions, mistakes etc. as well as offers and use of such 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. Display of any intellectual property along with the related product information does not imply BFDL’s partnership with the owner of the intellectual property of such products and is solely for the purpose of information, unless otherwise provided by BFDL.

Frequently Asked Questions

What documents do I need to open a fixed deposit of ₹75 Lakhs?

The documents you need to open an FD of ₹75 Lakhs include an ID proof, like a PAN card, an address proof, and other KYC documents. Some issuers may require additional paperwork for verification. 

Are FDs of ₹75 Lakhs subject to taxation?

Yes, interest on even a ₹75 Lakh FD is taxable. However, it will not be subject to TDS if the interest does not exceed ₹40,000 annually. For senior citizens, this limit is ₹50,000.

Who is eligible to book a fixed deposit of ₹75 Lakhs?

This depends on the issuer you choose. Generally, issuers require you to be an Indian citizen over the age of 18 years. Many issuers also allow you to invest if you are a Non-resident Indian (NRI). 

Is there a minimum and maximum interest rate cap for a fixed deposit of ₹75 Lakhs?

There is no interest rate cap set by the government for FDs in India, regardless of the amount invested. Issuers determine the interest rates based on factors like the tenor, market conditions, and their internal policies. 

How can I calculate interest on an FD of ₹75 Lakhs?

You can use online FD calculators. These are user-friendly tools that provide quick estimates of your maturity amount based on the investment terms.

What is the monthly interest on a fixed deposit of ₹75 lakhs?

The interest per month on an FD of ₹75 Lakhs depends on the interest rate offered by the issuer. Browse and compare the interest rates offered by different issuers and use an FD calculator to estimate the returns.  

What factors influence the monthly interest earned on a ₹75 Lakh FD?

The FD rates, tenor, compounding frequency, and taxation can affect your monthly interest earnings. To optimise your returns, compare rates and other terms before investing.

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