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

A Fixed Deposit (FD) can come in handy if you have recently come upon a substantial windfall. This could be due to various reasons like a bonus paycheque, an inheritance, etc. If you haven’t decided between investing or spending the sum, you could consider opting for an FD. 

 

There are various banks and NBFCs that offer attractive interest rates between 6% and 10% p.a. On booking an FD of ₹1 Lakh at 7% interest p.a. for a tenor of 5 years, you could earn ₹40,000 in total interest payout. 

 

By aligning your FD’s maturity with your financial goals, you could direct these funds towards fulfilling financial goals. Learn more about the applicable interest rates across our partner and issuer pages below to start investing in FDs.

Monthly Interest Payout on ₹1 Lakh Fixed Deposit

The table below shows the monthly interest calculation you would earn on a ₹1 Lakh fixed deposit with various applicable interest rates -

Deposit Amount

Interest Rate (p.a.)

Monthly Interest Payout

₹1 Lakh

6.00%

₹500

₹1 Lakh

6.50%

₹542

₹1 Lakh

7.00%

₹583

₹1 Lakh

7.50%

₹625

₹1 Lakh

8.00%

₹667

₹1 Lakh

8.50%

₹708

₹1 Lakh

9.00%

₹750

₹1 Lakh

9.50%

₹792

₹1 Lakh

10.00%

₹833

Through the below tables, find out more about the interest you could earn on your fixed deposit of ₹1 Lakh with a tenor of 5 years across issuers:

₹1 Lakh FD Interest Per Month Offered by NBFCs - Non-Senior Citizen

Below are the FD rates offered by NBFCs for non-senior citizens along with the monthly interest amount and the total maturity payout on a tenor of 5 years:

Issuer

Type

Interest Rate for Non-Senior Citizen

Monthly Interest Amount

Total Payout at Maturity

Bajaj Finance Ltd.

NBFC

8.05% p.a.

₹ 648

₹ 1,45,375

PNB Housing Finance Ltd.

NBFC

7.50% p.a.

₹ 604

₹ 1,41,901

Mahindra Finance Ltd.

NBFC

8.05% p.a.

₹ 625

₹ 1,43,563

Muthoot Finance

NBFC

7.00% p.a.

₹ 583

₹ 1,40,255

LIC Housing Finance

NBFC

7.75% p.a.

₹ 646

₹ 1,45,240

Shriram Finance

NBFC

8.18% p.a.

₹ 682

₹ 1,48,161

*Disclaimer: The above-mentioned rates are subject to change as per the issuer’s discretion.

 

₹1 Lakh FD Interest Per Month Offered by NBFCs - Senior Citizen

Here are the FD rates offered by NBFCs for senior citizens along with the monthly interest amount and the total maturity payout on a tenor of 5 years:

Issuer

Type

Interest Rate for Senior Citizen

Monthly Interest Amount

Total Payout at Maturity

Bajaj Finance Ltd.

NBFC

8.30% p.a.

₹ 667

₹ 1,46,933

PNB Housing Finance Ltd.

NBFC

7.75% p.a.

₹ 625

₹ 1,43,563

Mahindra Finance Ltd.

NBFC

8.30% p.a.

₹ 646

₹ 1,45,240

Muthoot Finance

NBFC

7.25% p.a.

₹ 604

₹ 1,41,901

LIC Housing Finance

NBFC

8.00% p.a.

₹ 667

₹ 1,46,933

Shriram Finance

NBFC

8.68% p.a.

₹ 723

₹ 1,51,617

*Disclaimer: The above-mentioned rates are subject to change as per the issuer’s discretion.

₹1 Lakh FD Interest Per Month Offered by Banks - Non-Senior Citizen

Learn about the FD rates offered by banks along with the monthly interest amount and the total maturity payout for non-senior citizens on a tenor of 5 years:

Issuer

Type

Interest Rate for Non-Senior Citizen

Monthly Interest Amount

Total Payout at Maturity

ICICI Bank

Bank

6.75% p.a.

₹ 563

₹ 1,38,624

HDFC Bank

Bank

7.00% p.a.

₹ 583

₹ 1,40,255

IDFC First Bank

Bank

7.00% p.a.

₹ 583

₹ 1,40,255

Axis Bank

Bank 

7.00% p.a.

₹ 583

₹ 1,40,255

IndusInd Bank

Bank

7.25% p.a.

₹ 604

₹ 1,41,901

Yes Bank

Bank

7.00% p.a.

₹ 583

₹ 1,40,255

Jana Small Finance Bank

Bank

6.00% p.a.

₹ 500

₹ 1,33,823

Kotak Mahindra Bank

Bank

6.25% p.a.

₹ 521

₹ 1,35,408

SBI

Bank

6.50% p.a.

₹ 542

₹ 1,37,009

Punjab National Bank

Bank

6.50% p.a.

₹ 542

₹ 1,37,009

Bank of India

Bank

6.00% p.a.

₹ 500

₹ 1,33,823

*Disclaimer: The above-mentioned rates are subject to change as per the issuer’s discretion.

₹1 Lakh FD Interest Per Month Offered by Banks - Senior Citizen

Find out about the FD rates offered by banks along with the monthly interest amount and the total maturity payout for senior citizens on a tenor of 5 years:

Issuer

Type

Interest Rate for Senior Citizen

Monthly Interest Amount

Total Payout at Maturity

ICICI Bank

Bank

6.75% p.a.

₹ 563

₹ 1,38,624

HDFC Bank

Bank

7.50% p.a.

₹ 625

₹ 1,43,563

IDFC First Bank

Bank

7.50% p.a.

₹ 625

₹ 1,43,563

Axis Bank

Bank 

7.75% p.a.

₹ 646

₹ 1,45,240

IndusInd Bank

Bank

7.75% p.a.

₹ 646

₹ 1,45,240

Yes Bank

Bank

7.75% p.a.

₹ 646

₹ 1,45,240

Jana Small Finance Bank

Bank

6.50% p.a.

₹ 542

₹ 1,37,009

Kotak Mahindra Bank

Bank

6.25% p.a.

₹ 521

₹ 1,35,408

SBI

Bank

7.50% p.a.

₹ 625

₹ 1,43,563

Punjab National Bank

Bank

7.00% p.a.

₹ 583

₹ 1,40,255

Bank of India

Bank

6.75% p.a.

₹ 563

₹ 1,38,624

*Disclaimer: The above-mentioned rates are subject to change as per the issuer’s discretion.

 

Now that you have a better understanding about your potential returns on depositing ₹1 Lakh in an FD, consider booking one today. These funds could be utilised to help fulfil financial goals like purchasing a vehicle or property. 

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

The monthly interest for ₹1 Lakh fixed deposit earned will depend on the bank’s interest rate and there is no minimum or maximum limit to the monthly interest. 

No, there is no minimum or maximum cap to the monthly interest for 1 lakh fixed deposit as it depends on the bank’s interest rate.

Certainly, ₹1 Lakh fixed deposit is taxable based on your income slab. Banks will deduct TDS at 10% if the interest exceeds ₹40,000

Senior citizens can enjoy a couple of benefits on a₹ 1 Lakh fixed deposit interest per month. The TDS deduction for senior citizens is more than regular citizens. Also, if a senior citizen does not have a taxable income, they can submit Form 15H to enjoy a TDS exemption.

The documents required are identity proof such as passport, PAN card, Voter ID, Driving licence, any Government ID card or a Photo ration card. Additionally, address validation documents like the passport, telephone bill, electricity bill, bank statement with cheque, signature proof like the passport, PAN card or driving licence are needed. Senior citizens require an age proof document like the driving licence, PAN or voters card along with Form 15H whereas regular citizens do not need any age proof documents but require Form 15G.

The eligibility criteria for a ₹1 Lakh fixed deposit are the following:

  • The applicant must be above 18 years of age

  • Minors can have a Fixed Deposit but under the guardianship of a guardian

  • The applicant must essentially have a PAN card

  • Hindu Undivided family (HUF) must have a separate PAN card

  • The applicant must necessarily satisfy RBI mandated KYC guidelines like identity proof, address proof, and age proof.

You can use an online fixed deposit interest calculator to easily calculate the interest earned per month and your overall maturity amounts on Fixed deposits worth ₹1 Lakh. You just need to enter your initial principle i.e.₹ 1 Lakh, tenor or duration of the fixed deposit, and the interest rate charged to calculate the interest amount.

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