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

If you are an individual seeking financial stability while fostering growth, a ₹8 lakh fixed deposit (FD) could prove to be a viable option. Offering a safe haven for funds, FDs guarantee a fixed interest rate within a specified timeframe.

 

Yet, it is imperative to examine the current interest rates from different issuers before booking an FD. This due diligence ensures the assured returns, allowing for well-informed decisions that align with the ever-changing market conditions. This ultimately optimises 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 ₹8 Lakhs Fixed Deposit

Refer to the table below for the monthly interest payout you could earn on a fixed deposit of ₹8 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%

₹5,367

8.30%

₹5,333

PNB Housing Finance Ltd. 

7.65%

₹5,100

7.95%

₹5,300

Mahindra Finance Ltd. 

8.05%

₹5,367

8.30%

₹5,333

LIC Housing Finance Ltd

7.50%

₹5,000

7.75%

₹5,167

Shriram Finance

8.60%

₹5,733

9.14%

₹6,093

ICICI Bank 

7.00%

₹4,667

7.50%

₹5,000

HDFC Bank 

7.00%

₹4,667

7.50%

₹5,000

IDFC First Bank 

7.00%

₹4,667

7.50%

₹5,000

Axis Bank 

7.00%

₹4,667

7.75%

₹5,167

IndusInd Bank 

7.25%

₹4,833

8.00%

₹5,333

YES Bank 

7.25%

₹4,833

8.00%

₹5,333

Jana Small Finance Bank 

7.25%

₹4,833

7.75%

₹5,167

Ujjivan Small Finance Bank

7.20%

₹4,800

7.70%

₹5,133

Kotak Mahindra Bank

6.20%

₹4,133

6.70%

₹4,467

SBI

6.50%

₹4,333

7.50%

₹5,000

AU Small Finance Bank

7.25%

₹4,833

7.75%

₹5,167

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 ₹8 Lakhs Fixed Deposit

The below mentioned table below the monthly interest income you could earn on an FD of ₹8 Lakhs across different interest rates:

Deposit Amount

Interest Rate (p.a.)

Monthly Interest Payout

₹8 Lakhs

6.00%

₹4,000

₹8 Lakhs

6.50%

₹4,333

₹8 Lakhs

7.00%

₹4,667

₹8 Lakhs

7.50%

₹5,000

₹8 Lakhs

8.00%

₹5,333

₹8 Lakhs

8.50%

₹5,667

₹8 Lakhs

9.00%

₹6,000

₹8 Lakhs

9.50%

₹6,333

₹8 Lakhs

10.00%

₹6,667

Now that you have an understanding of the potential returns you could earn from an ₹8 Lakhs fixed deposit, secure your investment by booking an FD on Bajaj Markets. The process is quite straightforward and hassle-free, allowing you to complete it entirely online.

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 About Interest Per Month on an ₹8 Lakh FD

Yes. If the annual interest income from your ₹8 Lakhs fixed deposit surpasses ₹40,000 (₹50,000 if senior citizen), you are liable to pay TDS as per Section 194A of the Income Tax Act. The TDS rate will be 10% if you have a valid PAN and 20% if you do not.

Earnings on your FD depend on the rate offered. Given the current rates by top issuers, you can earn up to ₹5,180 as monthly interest for an ₹8 Lakhs fixed deposit with a tenor of 5 years. Your earnings will also depend on your investment tenor, amount, payout option, and other factors.

You generally need to submit your PAN card, KYC documents, ID proof, and passport-sized photographs to the fixed deposit issuers at the time of investment.

Financial institutions offering fixed deposits require you to be of the minimum age (generally 18) and a citizen of India (resident or otherwise).

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