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.

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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.

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: 04 April 2022
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