Monthly FD Interest on ₹1 Crore

A Fixed Deposit (FD) scheme helps to earn monthly FD interest on ₹1 crore investment and provides a stable income stream. In this article, discover how much of your wealth can grow consistently and offer you financial stability and peace of mind.

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What is Monthly FD Interest?

Monthly interest on FD stands for the interest earned on a Fixed Deposit (FD) account every month. When you put money in an FD scheme, the bank pays you interest regularly, typically on a monthly basis. This interest is calculated based on the amount you deposit and the FD interest rates offered by the bank. It is a simple way to earn a little extra income on your savings each month.

Comparison Between
Fixed Deposits, Guaranteed Return Plans & Debt Mutual Fund
Guaranteed Return Plans, Fixed Deposits &
Debt Mutual Fund
Guaranteed Return Plans
Returns Before Tax
7.5% (TAX-FREE)
Returns After Tax
7.5%
Guaranteed Returns
Yes
Life Cover
Yes
Tax on Profit
Tax Free*
Risk
No Risk
awards
Still Better than FD’s and Debt Mutual Fund
Fixed Deposits
Returns Before Tax
7% (TAXABLE)
Returns After Tax
4.8%
Guaranteed Returns
Yes
Life Cover
No
Tax on Profit
Taxable
Risk
Low Risk
Debt Mutual Fund
Returns Before Tax
8% (TAXABLE)
Returns After Tax
5.5%
Guaranteed Returns
No
Life Cover
No
Tax on Profit
Taxable
Risk
High Risk
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*For annual premium upto ₹5 Lacs

Introduction to FD Calculator

An FD calculator, or Fixed Deposit calculator, is a financial tool that helps you estimate the maturity amount you will receive on your fixed deposit (FD) investment.

Maturity amount refers to the total amount you will get at the end of the FD term, which includes both your initial deposit and the interest earned.

FD calculators simplify this process, especially for longer terms with compound interest, giving accurate estimates in seconds.

Monthly Interest on ₹1 Crore FD in Different Banks

The monthly interest you can earn on a ₹1 Crore Fixed Deposit (FD) can vary depending on the bank you choose. Let us get a general idea for a tenure of 5 years:

Public/Private Sector Banks and Small Finance Banks Regular Citizen FD Rates* (% p.a.) Monthly Interest Payout Senior Citizen FD Rates* (% p.a.) Monthly Interest Payout
SBI FD Rates 6.50% ₹63,403.30 7.50% ₹74,991.33
HDFC Bank FD Rates 7.00% ₹69,129.70 7.75% ₹77,973.81
ICICI Bank FD Rates 7.00% ₹69,129.70 7.50% ₹74,991.33
Axis Bank FD Rates 7.00% ₹69,129.70 7.75% ₹77,973.81
PNB FD Rates 6.50% ₹63,403.30 7.00% ₹69,129.70
Yes Bank FD Rates 7.25% ₹72,043.43 8.00% ₹80,991.23
Kotak Mahindra FD Rates 6.20% ₹60,031.13 6.70% ₹65,677.81
Bandhan Bank FD Rates 5.85% ₹56,156.28 6.60% ₹64,537.90
Suryoday SFB FD Rates 8.25% ₹84,043.98 8.75% ₹90,257.06
Ujjivan SFB FD Rates 7.20% ₹71,457.96 7.70% ₹77,374.53
ESAF SFB FD Rates 6.25% ₹60,589.88 6.75% ₹66,249.78
Unity SFB FD Rates 8.15% ₹82,818.61 8.65% ₹89,002.86
Citi Bank FD Rates 7.00% ₹69,129.70 7.75% ₹77,973.81
Barclays Bank FD Rates 6.27% ₹60,813.75 6.27% ₹60,813.75

*Disclaimer: The FD interest rates listed above are effective as on 01 April 2024 and are subject to change by the issuer any time.

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Monthly Interest for ₹1 Crore in FD for Different Interest Rates

The monthly interest you might earn on a ₹1 Crore Fixed Deposit (FD) depends on the offered rate of interest on the FD scheme. Let us assume a ₹1 Crore FD with 5 years tenure and for different interest rates. The monthly FD interest on ₹1 Crore is as follows:

Deposit Amount (₹) Regular Citizen FD Rates* (% p.a.) Monthly Interest Payout (₹) Senior Citizen FD Rates* (% p.a.) Monthly Interest Payout (₹)
₹1 Crore 3.50% ₹31,723.30 4.00% ₹31,723.3
₹1 Crore 4.75% ₹44,383.68 5.25% ₹49,659.66
₹1 Crore 5.75% ₹55,060.8 6.25% ₹60,589.88
₹1 Crore 6.00% ₹57809.16 6.50% ₹63,403.30
₹1 Crore 6.80% ₹66,823.08 7.30% ₹72,630.26
₹1 Crore 7.00% ₹69,129.70 7.50% ₹74,991.33
₹1 Crore 6.75% ₹66,249.78 7.25% ₹72043.43
₹1 Crore 6.50% ₹63,403.30 7.50% ₹74,991.33

Benefits of Investing in FD

Fixed deposits (FDs) are a popular investment option in India, especially for risk-averse investors. Here are some of the key benefits of investing in FDs:

  • Assured Returns: Unlike stocks or mutual funds, FDs offer a fixed rate of interest that is predetermined at the time of investment. This provides stability and predictability to your investment.

  • Safety and Security: FDs are considered a safe investment option. Deposits up to Rs 5 lakh are insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC) in case of bank failure.

  • Flexible Tenure: FDs offer a wide range of tenures, ranging from a few days to 10 years. This allows you to choose an investment period that aligns with your financial goals.

  • Liquidity: While FDs offer fixed tenure, some options provide liquidity. You can typically withdraw your money before maturity by paying a penalty. This can be helpful in case of emergencies.

  • Higher Interest Rates than Savings Accounts: FDs typically offer higher interest rates than regular savings accounts. This allows you to grow your money at a faster pace.

  • Loan Facility: Many banks allow you to take a loan against your FD. This can be a convenient way to access funds without having to break your deposit.

  • Tax Benefits: You can claim a deduction of up to Rs. 1.5 lakh per financial year on the amount you invest in a Tax Saving FD under Section 80C of the Income Tax Act.

  • Tax on Interest: The interest earned on a Tax Saving FD is taxable as income from other sources. The bank deducts Tax Deducted at Source (TDS) on the interest if it exceeds Rs. 40,000 per year (Rs. 50,000 for senior citizens).

FD interest rates India have fallen consistently over the last 12 years.
Invest in Plans that offer Guaranteed Returns for over 25 Years

TDS for Fixed Deposit Interest on 1 Crore

  1. Bank FDs:

    • For Bank FDs, taxation is applicable based on your income bracket.

    • TDS rate of 10% is applied if interest income exceeds ₹40,000.

    • Senior citizens have a higher threshold limit of ₹50,000 before TDS is applied.

    • Not having a PAN card increases TDS to 20% on monthly interest for ₹1 Crore in banks.

  2. NBFCs FDs:

    • NBFCs have a threshold limit of ₹5,000 for Tax Deducted at Source (TDS).

    • If interest income exceeds ₹5,000, a TDS rate of 10% is applied.

Allahabad Bank FD Interest Rates

Allahabad Bank FD Interest Rates

Andhra Bank FD Interest Rates

Andhra Bank FD Interest Rates

Assam Gramin Vikash Bank FD Interest Rates

Assam Gramin Vikash Bank FD Interest Rates

AU Small Finance Bank FD Interest Rates

AU Small Finance Bank FD Interest Rates

Axis Bank FD Rates

Axis Bank FD Rates

Bajaj Finance FD Interest Rates

Bajaj Finance FD Interest Rates

Bandhan Bank FD Interest Rates

Bandhan Bank FD Interest Rates

Bangiya Gramin Vikash Bank FD Interest Rates

Bangiya Gramin Vikash Bank FD Interest Rates

Bank of Baroda FD Interest Rates

Bank of Baroda FD Interest Rates

Bank of Ceylon FD Interest Rates

Bank of Ceylon FD Interest Rates

Bank of India FD Interest Rates

Bank of India FD Interest Rates

Bank of Maharashtra FD Interest Rates

Bank of Maharashtra FD Interest Rates

Baroda Gujarat Gramin Bank FD Interest Rates

Baroda Gujarat Gramin Bank FD Interest Rates

Canara Bank FD Interest Rates

Canara Bank FD Interest Rates

Capital Small Finance Bank FD Interest Rates

Capital Small Finance Bank FD Interest Rates

Central Bank of India FD Interest Rates

Central Bank of India FD Interest Rates

Citibank FD Interest Rates

Citibank FD Interest Rates

City Union Bank FD Interest Rates

City Union Bank FD Interest Rates

Corporation Bank FD Interest Rates

Corporation Bank FD Interest Rates

Dakshin Bihar Gramin Bank FD Interest Rates

Dakshin Bihar Gramin Bank FD Interest Rates

DBS Bank FD Interest Rates

DBS Bank FD Interest Rates

Dena Bank FD Interest Rates

Dena Bank FD Interest Rates

Dhanlaxmi Bank FD Interest Rates

Dhanlaxmi Bank FD Interest Rates

Equitas Small Finance Bank FD Interest Rates

Equitas Small Finance Bank FD Interest Rates

ESAF Small Finance Bank FD Interest Rates

ESAF Small Finance Bank FD Interest Rates

HDFC Bank FD Interest Rates

HDFC Bank FD Interest Rates

HSBC FD Interest Rates

HSBC FD Interest Rates

ICICI Bank FD Interest Rates

ICICI Bank FD Interest Rates

IDBI Bank FD Interest Rates

IDBI Bank FD Interest Rates

IDFC First Bank FD Interest Rates

IDFC First Bank FD Interest Rates

Indian Bank FD Interest Rates

Indian Bank FD Interest Rates

Indian Overseas Bank FD Interest Rates

Indian Overseas Bank FD Interest Rates

IndusInd Bank FD Interest Rates

IndusInd Bank FD Interest Rates

Jana Small Finance Bank FD Interest Rates

Jana Small Finance Bank FD Interest Rates

Karnataka Bank FD Interest Rates

Karnataka Bank FD Interest Rates

Kerala Gramin Bank FD Interest Rates

Kerala Gramin Bank FD Interest Rates

Kotak Mahindra Bank FD Interest Rates

Kotak Mahindra Bank FD Interest Rates

Lakshmi Vilas Bank FD Interest Rates

Lakshmi Vilas Bank FD Interest Rates

Muthoot Capital

Muthoot Capital

Nainital Bank FD Interest Rates

Nainital Bank FD Interest Rates

Odisha Gramya Bank FD Interest Rates

Odisha Gramya Bank FD Interest Rates

Paschim Banga Gramin Bank FD Interest Rates

Paschim Banga Gramin Bank FD Interest Rates

Paytm Payments Bank FD Interest Rates

Paytm Payments Bank FD Interest Rates

PNB FD Interest Rates

PNB FD Interest Rates

Prathama UP Gramin Bank FD Interest Rates

Prathama UP Gramin Bank FD Interest Rates

RBL Bank FD Rates

RBL Bank FD Rates

Saurashtra Gramin Bank FD Interest Rates

Saurashtra Gramin Bank FD Interest Rates

SBI FD Interest Rates

SBI FD Interest Rates

Shriram Finance FD Interest Rates

Shriram Finance FD Interest Rates

State Bank of Hyderabad FD Interest Rates

State Bank of Hyderabad FD Interest Rates

State Bank of Mysore FD Interest Rates

State Bank of Mysore FD Interest Rates

State Bank of Travancore FD Interest Rates

State Bank of Travancore FD Interest Rates

Syndicate Bank FD Interest Rates

Syndicate Bank FD Interest Rates

Tamil Nadu Grama Bank FD Interest Rates

Tamil Nadu Grama Bank FD Interest Rates

Telangana Grameena Bank FD Interest Rates

Telangana Grameena Bank FD Interest Rates

Tripura Gramin Bank FD Interest Rates

Tripura Gramin Bank FD Interest Rates

UCO Bank FD Interest Rates

UCO Bank FD Interest Rates

Ujjivan Small Finance Bank FD Interest Rates

Ujjivan Small Finance Bank FD Interest Rates

Union Bank of India FD Interest Rates

Union Bank of India FD Interest Rates

Uttar Bihar Gramin Bank FD Interest Rates

Uttar Bihar Gramin Bank FD Interest Rates

Uttarakhand Gramin Bank FD Interest Rates

Uttarakhand Gramin Bank FD Interest Rates

Vijaya Bank FD Interest Rates

Vijaya Bank FD Interest Rates

Yes Bank FD Interest Rates

Yes Bank FD Interest Rates

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In Summary

Investing in a monthly fixed deposit with a principal amount of ₹1 crore can yield significant interest returns, providing a steady source of income. It offers financial stability and growth potential, making it a prudent choice for long-term financial planning.

FAQs

  • Can I deposit ₹1 crore in a bank savings account?

    Yes, you can deposit ₹1 crore in a bank savings account. There is no upper limit on deposits in savings accounts. However, savings accounts typically offer lower interest rates compared to fixed deposits (FDs).
  • How to invest ₹1 crore for monthly income?

    Some of the investment options to consider for monthly income are as follows:
  • Is ₹1 crore FD taxable?

    Yes, the interest earned on a ₹1 crore FD is taxable. It is added to your total income for the year and is taxed according to your chosen old vs. new income tax slab rate.
  • Is there tax on FD?

    Interest income on all regular FDs is taxable. However, there are tax-saving FD schemes (under Section 80C of the Income Tax Act) where the principal amount invested (up to a limit) is eligible for tax deduction. But the interest earned on these FDs is still taxable.

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FD Calculator

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