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.
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:
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 |
NBFC |
8.05% p.a. |
₹ 648 |
₹ 1,45,375 |
|
NBFC |
7.50% p.a. |
₹ 604 |
₹ 1,41,901 |
|
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.
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.
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.
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.
Check Monthly Interest Rates on Your Fixed Deposits |
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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.