30 Lakhs Fixed Deposit Interest Per Month

If you are planning to invest Rs 30 lakhs in a Fixed Deposit, rest assured that you will credibly receive at least the full amount invested at maturity. FDs are a safe and popular investment option available today that offers you the flexibility of principal amount. This article explores 30 lakhs FD that gives you’re a regular income per month.

Read more
Return as high as 7.2%*Completely Tax Free

* The Guaranteed Returns are dependent on the policy term and premium term availed along with the other variable factors. 7.2% rate of return is for a 30 years old, healthy male for a policy term of 10 years and premium term of 5 years with Rs.20,000 monthly instalment premium. STANDARD TERMS AND CONDITIONS APPLY. For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale.

Best Investment Plans
  • Save upto ₹46,800 in tax under Sec 80C

  • Inbuilt Life Cover

  • Tax Free Returns Unlike FD

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

Buy Online & Get upto 4% extra#
Get Guaranteed returns upto 7.2%*
Invest in 100% Guaranteed Return Plans with Tax benefits under sec 80C & No Tax on returns*
View Plans
Please wait. We Are Processing..
Plans available only for people of Indian origin By clicking on "View Plans" you agree to our Privacy Policy and Terms of use #For a 55 year on investment of 20Lacs #Discount offered by insurance company Tax benefit is subject to changes in tax laws
Get Updates on WhatsApp

What Is a Fixed Deposit?

A fixed deposit (FD) is a term deposit that pays a high rate of interest offered by banks or non-banking financial organizations (NBFCs). An FD account allows you to invest a large sum of money for a set length of time at a specified rate of interest.

Interest rates on deposits less than Rs 2 crores accrue 3.00% per annum (for short-term deposits) and 9.54% per annum (for FDs up to 10 years). These rates fluctuate according to the laws and performance of financial sectors.

Also, you can choose a fixed deposit for a period ranging from 7 to 10 years. Longer-term FDs are usually offered at a higher interest rate by banks.

Depending on your preference, the interest you earn is paid at maturity or on a recurring basis. FDs are classified as cumulative or non-cumulative.

Guaranteed return plan Guaranteed return plan

Cumulative Fixed Deposits

The interest on a cumulative fixed deposit is compounded over the duration of the deposit and paid at maturity. The interest you earn each year is reinvested in the principal.

For example, you put Rs 100,000 in a cumulative FD for a year at an interest rate of 8% pa compounded quarterly. You will receive Rs 8234.2 in interest income at the end of the term, representing an absolute return of 8.24%.

When the FD matures, the maturity amount will include both the initial investment of INR 30 lakhs as well as the interest generated during the term.

The principal amount increases with each reinvestment in this type of FD, allowing you to benefit from compound interest. As a result, the interest earned rises and the cycle continues until the tenure ends.

Non-Cumulative Fixed Deposits

Assume you open a new FD with the bank. You select the non-cumulative interest option this time. With a Noncumulative Interest FD, you receive interest at regular periods and have a steady income stream. You can opt to receive the interest monthly, quarterly, half-yearly, or annual basis. It is calculated using the fundamental simple interest formula.

For example, suppose you put Rs 100,000 in a non-cumulative FD with a monthly interest payout option for three years.

If the bank's interest rate is 8% p.a., you will receive Rs 666.66 (8% of 100000/12) in interest income every month, for a total of Rs 8,000 in a year.

Which Type of FD is Suitable for You?

While Cumulative FD programs are known as money multiplier schemes, non-cumulative FD programs pay interest at specified intervals.

A cumulative FD is an excellent option for salaried people or small business owners who do not require additional money to fulfil their monthly obligations.

Cumulative FDs are ideal for building a longer-term deposit.

Noncumulative FDs are appropriate for investors who do not have a consistent source of income, such as retirees or pensioners. They make regular payments, allowing people to better plan their daily and monthly costs.

Also, cumulative FD usually has a greater interest rate than a non-cumulative FD.

All non-cumulative FD products are taxable, but you can invest in tax-saving FDs with a five-year investment term if you choose the cumulative option.

How to Calculate 30 lakhs Fixed Deposit Interest Per Month?

An FD's interest rate is determined by a number of factors like the amount invested, and investment duration.

The following formula can be used to manually compute the 30 lakhs Fixed Deposit interest per month:

Amount Invested x Interest Rate x (Duration/ 12 months) = Interest on FD

There are also Fixed Deposit Calculators which can provide exact statistics for the 30 lakhs Fixed Deposit interest each month. These

free online FD calculators minimise manual calculation errors and deliver 100% accurate results.

Benefits and Features of a Fixed Deposit

Here are certain FD benefits that you can receive:

  1. Assured Returns

    Unlike market-linked securities such as shares and mutual funds, you will receive the same interest rate agreed upon with FDs even if interest rates decline.

    Furthermore, there is no principal loss.

  2. Higher rate of interest

    The interest rate on FDs is higher than the rate on savings accounts.

  3. Investment Return

    The amount of interest you earn on a fixed deposit is determined by the FD's maturity length or tenure, as well as whether you want to receive interest on a regular basis or reinvest it. You will earn a greater interest rate if you have a longer tenure.

  4. Benefits for Senior Citizens

    In comparison to other customers, senior citizens are provided between 0.25% and 0.65% increase in interest rates.

  5. Liquidity

    You can easily liquidate your FD and release the funds in the event of an emergency.

    Noncumulative FDs also serve as a source of regular income since you have the interest deposited to your account on a monthly, quarterly, or annual basis, depending on your needs.

In Conclusion

Fixed Deposits provide both a fixed amount of protection and a consistent stream of income accounts. It makes FDs ideal for senior citizens and low-risk investors who want to secure their money.

It is also perfect for people who have a large sum of money that they won't need for a while. You can opt for a Recurring Deposit if you cannot go for a lumpsum investment.


  • What is the maximum amount of money I can invest in a Fixed Deposit?

    There is generally a bottom restriction of 1000INR and no upper limit.
    However, this differs depending on the bank.
  • What are the minimum and maximum terms of an FD account investment?

    Depending on your business or personal needs and the bank terms, an FD can last anywhere from seven days to ten years.
  • Is it possible to break a Fixed Deposit before it matures?

    You have the option of terminating your FD or withdrawing a portion of it as per the bank's rules.
  • Will I have to pay the penalty if I withdraw my FD before the expiration date?

    If you close your Fixed Deposit account, your bank or financial institution will give you a lesser interest rate of 0.5 to 1%.
  • Are there any tax advantages to having an FD?

    Tax benefits for tax saver FDs are provided by Section 80C of the Income Tax Act of 1961. Although the interest earned on these FDs is taxable, you can claim a deduction of up to Rs. 1, 50,000 for the amount deposited.
Written By: PolicyBazaar - Updated: 07 September 2022
FD Calculator

Total Investment

₹500 ₹10L
Enter Total Investment

Rate of Interest (Yearly)

1% 10%
Rate of Interest (Yearly)

Time Period

1 Year 10 Years
Enter Time Period
Interest Earned
Maturity Amount
Get Higher Return

FD Rates articles

Recent Articles
Popular Articles
Fixed Deposit Receipt (FDR)

22 Aug 2022

One traditional investment scheme popular amongst every...
Read more
Max Life Smart Fixed-Return Digital Plan

05 Jul 2022

Every individual wishes to have a secure future with no...
Read more
Tax Saver FD Premature Withdrawal

21 Jun 2022

Tax Saver Fixed Deposit is a type of fixed deposit scheme. The...
Read more
Axis Bank FD Premature Withdrawal

15 Jun 2022

Axis Bank offers a bouquet of fixed deposit products, which you...
Read more
ICICI FD Premature Withdrawal Penalty Calculator

14 Jun 2022

ICICI offers various fixed deposit schemes which are highly...
Read more
Application for Withdrawal of Fixed Deposit
Fixed Deposits are the safest investment instruments. You invest the amount of your choice as the fixed deposit...
Read more
Monthly Interest for 5 Lakh Fixed Deposit
Fixed Deposit is a stable investment option and one of the most favored financial instruments in India. You can...
Read more
Fixed Deposit Monthly Income Scheme
The monthly income scheme of Fixed Deposit has gained popularity among investors. It is considered liquid as it...
Read more
Fixed Deposit Interest Rates for Senior Citizens in Post Office
Post Offices have penetrated India’s remotest corners providing banking services apart from their postal...
Read more
ICICI FD Premature Withdrawal Penalty Calculator
ICICI offers various fixed deposit schemes which are highly liquid. The fixed deposit schemes allow partial...
Read more

Download the Policybazaar app
to manage all your insurance needs.