Monthly Interest Payout on a ₹40 Lakh Fixed Deposit

Invest your savings of ₹40 Lakhs in an FD and receive up to ₹30,000 by choosing the monthly interest payout option!

Invest Now In FD

Book your FD in 4 simple steps

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 on a ₹40 Lakhs FD

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.

Is there a tax applicable on the interest earned on an FD of ₹40 Lakhs?

Yes, interest earned on a ₹40 Lakhs FD is taxable under 'Income from Other Sources'. Banks and NBFCs deduct a 10% TDS annually, but this can be avoided by submitting Form 15G, if applicable. Additional tax, if any, depends on your tax slab.

How much interest will I get on a fixed deposit of ₹40 Lakhs?

The interest on a ₹40 Lakh FD varies based on the bank or NBFC's interest rate, FD type, and tenure.

What are the documents required for a ₹40 Lakh fixed deposit?

You typically need KYC documents like PAN card, Aadhaar card, and proof of address. These can be Aadhaar, Driving Licence, Voter’s ID, or Passport to open a ₹40 Lakh FD.

What are the eligibility criteria for a ₹40 Lakh fixed deposit?

All Indian residents, including HUFs, sole proprietorships, partnerships, trusts, and companies, can open a ₹40 Lakh fixed deposit, subject to specific documentation requirements.

How to calculate FD interest on ₹40 Lakhs?

FD interest on ₹40 Lakhs is calculated using the formula: P(1 + r/n)nt - P. Here, P is the principal, r is the interest rate, n is the compounding frequency, and t is the tenor. Alternatively, use an online FD calculator for quick results.

Is there a penalty for withdrawing from the ₹40 Lakhs fixed deposit before maturity?

Yes, the penalty amount varies depending on the bank or NBFC's terms and conditions.

Can I take a loan against a ₹40 Lakh fixed deposit?

You can typically avail of a loan against your ₹40 Lakh fixed deposit. Banks and NBFCs offer loan facilities against fixed deposits, providing you with liquidity without breaking your deposit.

Can I add more funds to my ₹40 Lakh fixed deposit during the tenor?

You cannot add more funds to an existing fixed deposit in the middle of the tenor. These are typically one-time deposit investments, and additional deposits are not allowed once the FD is booked.

Is my ₹40 Lakh fixed deposit amount insured?

Fixed deposits are insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC) for up to ₹5 Lakhs per depositor per bank.

Can the interest payout frequency be customised for an FD of ₹40 Lakhs?

Yes, the interest payout frequency for a ₹40 Lakh fixed deposit can usually be customised according to your preference. You can choose from monthly, quarterly, half-yearly, or annual interest payouts based on your financial needs.