₹40 Lakhs Fixed Deposit (FD) Interest Per Month in NBFCs & Banks

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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

Investing ₹40 Lakhs in a fixed deposit (FD) unfolds as a savvy financial decision for reliable capital growth. The pivotal factor in this decision-making process is the interest rate linked to the FD.

Carefully selecting an FD with a competitive interest rate directly shapes the overall returns over the investment period. A preference for a higher interest rate not only guards against inflation but also assures a stable income stream. Therefore, a diligent focus on interest rates is essential when aiming for substantial financial gains and sustained wealth augmentation.

Deposit Amount

₹

Tenure

Months

Interest Rate

Interest Payout

Your Total Maturity Amount is

Total Investment

Total Interest Earned

Monthly Interest Payout on a ₹40 Lakhs Fixed Deposit

The table below indicates the monthly interest payout you could earn on a fixed deposit of ₹40 Lakhs over 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%	₹26,833	8.30%	₹27,667
PNB Housing Finance Ltd.	7.65%	₹25,500	7.95%	₹26,500
Mahindra Finance Ltd.	8.05%	₹26,833	8.30%	₹27,667
LIC Housing Finance Ltd	7.50%	₹25,000	7.75%	₹25,833
Shriram Finance	8.60%	₹28,667	9.14%	₹30,467
ICICI Bank	7.00%	₹23,333	7.50%	₹25,000
HDFC Bank	7.00%	₹23,333	7.50%	₹25,000
IDFC First Bank	7.00%	₹23,333	7.50%	₹25,000
Axis Bank	7.00%	₹23,333	7.75%	₹25,833
IndusInd Bank	7.25%	₹24,167	8.00%	₹26,667
YES Bank	7.25%	₹24,167	8.00%	₹26,667
Jana Small Finance Bank	7.25%	₹24,167	7.75%	₹25,833
Ujjivan Small Finance Bank	7.20%	₹24,000	7.70%	₹25,667
Kotak Mahindra Bank	6.20%	₹20,667	6.70%	₹22,333
SBI	6.50%	₹21,667	7.50%	₹25,000
AU Small Finance Bank	7.25%	₹24,167	7.75%	₹25,833

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 ₹40 Lakhs Fixed Deposit

Refer to the table below for the monthly interest income you could earn on an FD of ₹40 Lakhs across different interest rates:

Deposit Amount	Interest Rate (p.a.)	Monthly Interest Payout
₹40 Lakhs	6.00%	₹20,000
₹40 Lakhs	6.50%	₹21,667
₹40 Lakhs	7.00%	₹23,333
₹40 Lakhs	7.50%	₹25,000
₹40 Lakhs	8.00%	₹26,667
₹40 Lakhs	8.50%	₹28,333
₹40 Lakhs	9.00%	₹30,000
₹40 Lakhs	9.50%	₹31,667
₹40 Lakhs	10.00%	₹33,333

Now that you have an understanding of the potential returns you could earn from an ₹40 Lakhs fixed deposit, you can secure your investment by booking an FD on Bajaj Markets. You can also use the FD calculator to determine the returns you could earn on your investment.

Check Monthly Interest Rates on Your Fixed Deposits
Monthly Interest on ₹10 Crores FD	Monthly Interest on ₹5 Crore FD	Monthly Interest on ₹3 Crores FD
Monthly Interest on ₹2 Crore FD	Monthly Interest on ₹1.5 Crore FD	Monthly Interest on ₹1 Crore FD
Monthly Interest on ₹80 Lakh FD	Monthly Interest on ₹70 Lakhs FD	Monthly Interest on ₹60 Lakhs FD
Monthly Interest on ₹50 Lakh FD	Monthly Interest on ₹35 Lakh FD	Monthly Interest on ₹30 Lakhs FD
Monthly Interest on ₹25 Lakh FD	Monthly interest on ₹20 Lakh FD	Monthly interest on ₹15 Lakh FD
Monthly interest on ₹10 Lakh FD	Monthly Interest on ₹8 Lakh FD	Monthly Interest on ₹6 Lakhs FD
Monthly Interest on ₹5 Lakhs FD	Monthly Interest on ₹4 Lakhs FD	Monthly Interest on ₹3 Lakhs FD
Monthly interest on ₹2 Lakh FD	Monthly Interest on ₹1 Lakh FD	Monthly Interest on ₹10000 FD

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.

Your salary or business earnings are your primary source of income over which tax is deducted at source (TDS). When you get interest per month on a ₹40 Lakh FD, it is treated as ‘Income from Other Sources’.

This additional income is taxable as per the Income Tax Act of India. Banks and NBFCs are directed to deduct a 10% TDS at the end of each fiscal year. This, however, can be avoided by the submission of Form 15G to your FD provider.

The balance tax, if any, is calculated based on the individual’s tax slab and needs to be paid directly to the Income Tax Department.

The monthly interest on a ₹40 Lakh FD varies according to parameters such as the interest rate offered by the institution, the type of FD chosen, and the tenure of investment. NBFCs tend to offer higher returns than banks.

While the specific requirements may vary across different financial institutions, typically you need KYC documents and passport-size photographs. KYC documents include proof of identity like a PAN card, Aadhaar card, Driving Licence, Voter’s ID, or Passport.

You will also need to furnish certain documents as your proof of address such as an Aadhaar card, Driving Licence, Voter’s ID, or Passport.

All resident citizens of India and Hindu Undivided Families (HUFs) are eligible to open a regular ₹40 Lakh fixed deposit.

In addition, sole proprietorship or partnership firms, trusts, and limited companies can also apply for a ₹40 Lakh fixed deposit. However, the required documentation may differ accordingly.

The interest on ₹ 40 Lakhs is calculated using the formula: P (1 + r/n)nt - P, where P is the amount invested, r is the rate of interest, n is the frequency of compounding, and t is the investment tenor.

However, the quicker and more convenient way to calculate the interest is by using the online FD calculator at Bajaj Markets.