Monthly Interest for 1 Lakh Fixed Deposit

A large section of the Indian population favors fixed deposits as an investment instrument to park funds for financial emergencies and future goals. All financial institutions, especially banks, NBFCs, and post offices, offer a range of fixed deposit products to suit your personal preferences. Your fixed deposits ensure money growth through interest applied to the principal.

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Monthly Interest for 1 Lakh FD Illustration

If you have Rs 1 lakh and want to invest in a fixed deposit, your monthly interest earned on it will look like the following illustration.

Interest rate range: 2.50% to 8.50%

FD Amount (Rs) Amount 1 Lakh Interest For 1 Year
1 Lakh INR 208.33 2.50%
1 Lakh INR 250 3.00%
1 Lakh INR 291.66 3.50%
1 Lakh INR 333.33 4.00%
1 Lakh INR 375 4.50%
1 Lakh INR 416.66 5.00%
1 Lakh INR 458.33 5.50%
1 Lakh INR 500 6.00%
1 Lakh INR 541.66 6.50%
1 Lakh INR 583.33 7.00%
1 Lakh INR 625 7.50%
1 Lakh INR 666.66 8.00%
1 lakh INR 708.33 8:50%

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

Interest Rates for Rs1 Lakh Fixed Deposit

Every bank offers attractive interest rates that determine your return on investment. The non-cumulative Fixed Deposit particularly suits those who depend on interest income such as retired individuals or senior citizens. You must calculate the monthly interest on Rs 1 Lakh as a benchmark for planning the investment amount to match certain needs.

Points to Remember:

  • The interest rates in the grid are applied to domestic and NRO term deposits.

  • Non-cumulative fixed deposits and those with tenors under 90 days are deprived of the compounding benefit. 

  • Individual investors must confirm interest rates with their respective banks.

  • NBFCs and post offices usually offer higher interest rates than banks.

  • Senior Citizens (60 years and above) get extra 0.25% to 0.50% over the regular citizen interest rates for tenors greater than 6 months. 

NBFCs Interest Rates for INR 1 lakh FD

The following table represents the monthly interest along with the maturity amount for five years tenor:

NBFC Interest Rates (%) Monthly Interest Amount (INR) Maturity Amount (INR)
PNB Housing Finance 7.65% 618 1,34,567
Mahindra Finance 7.75% 604 1,45,240
Bajaj Finance Ltd 7.85% 632 1,45,915

fd return beater

What Are the Types of Fixed Deposits?

Fixed Deposit is an investment vehicle that parks your investible funds to help them grow through the accrued interest. The FD interest rate is generally higher compared to savings accounts. It covers a comprehensive product range depending on the interest payout. Fixed deposit is also known as Term Deposit.

It is broadly classified as:

  • Non-cumulative FD: The interest accrued on your fixed or term deposit is paid out in your chosen frequency. Usually, it is either monthly or quarterly in case you choose tenors over 12 months. Thus, your principal investment remains untouched at maturity.

  • Cumulative FD: The interest accrued in fixed deposits under this category is not paid but added to the principal. The compounded amount accrued is paid at maturity. In addition, banks typically apply quarterly compounding that helps your money grow.

How To Calculate Interest on Rs 1 Lakh Fixed Deposit?

The online FD calculator helps you calculate the interest for non-cumulative and cumulative fixed deposits. You can also use the following formula to calculate interest on your Rs 1 lakh FD.

A = P (1+r/n) ^ (nt)

Where:

  • A - maturity  amount

  • P - principal (investment amount)

  • r - interest rate

  • n - compounding frequency

  • t - year tenor

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

How To Use Calculator for Monthly Interest on Rs1 Lakh Fixed Deposit?

A calculator is an online tool for you to know the maturity amount and the interest earned over an FD’s tenure.

Enter the following information to proceed with calculation:

  • Investment amount (Principal)

  • Tenure

  • Interest rate

The results show the following:

  • Principal

  • Maturity value

  • Monthly/quarterly/total interest earned

In Conclusion

Fixed deposits continue to be a safe investment option in India with their easy availability in different tenors in all financial institutions. While calculating the monthly interest for Rs.1 Lakh fixed deposit is the benchmark here, it is also an input for future financial planning. Therefore, you must weigh your investment options to fulfill your financial goals effectively.

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

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Bangiya Gramin Vikash Bank FD Interest Rates

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Capital Small Finance Bank FD Interest Rates

Central Bank of India FD Interest Rates

Central Bank of India FD Interest Rates

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Citibank FD Interest Rates

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City Union Bank FD Interest Rates

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Corporation Bank FD Interest Rates

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HDFC Bank FD Interest Rates

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ICICI Bank FD Interest Rates

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Muthoot Capital

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PNB FD Interest Rates

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Prathama UP Gramin Bank FD Interest Rates

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Saurashtra Gramin Bank FD Interest Rates

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State Bank of Hyderabad FD Interest Rates

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State Bank of Mysore FD Interest Rates

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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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FAQs

  • What is the impact if you do not withdraw the fixed Deposit after maturity?

    In the present scenario, your fixed Deposit is automatically renewed on maturity until otherwise instructed by you. 
  • Do you have to withdraw the interest payout in the fixed Deposit physically?

    The interest payout is credited to your operative savings account for withdrawal at your convenience. 
  • What is the tax impact on the interest earned by you in Rs.1 Lakh fixed Deposit?

    Your interest earning attracts income tax at your applicable slab rate if your annual interest earning exceeds Rs.50000 for senior citizens and Rs.40000 for others. 
  • Is TDS applicable on your fixed deposit interest?

    A TDS of 10% of your interest income is recovered after you cross the threshold for an exemption or you have not submitted Forms 15G and 15H, as the case may be. 
  • Does any change in the interest card rate affect your fixed deposit interest?

    The fixed deposit interest remains constant throughout its tenor until maturity, and any change is reflected only upon its renewal.
  • What are the fixed deposit interest rates of some popular banks in India?

    Bank Rate of Interest (%)
    Punjab National Bank 3.50 to 6.50 %
    SBI 3 to 6.50 %
    HDFC Bank 3 to 7.00 %
    Bank of India 3 to 6.00 %
    Axis Bank 3.50 to 7.00 %
  • What are the types of FDs in India?

    You can invest in the following types of FDs in India:
    • Standard FD
    • Tax Saving FD
    • Corporate FD
    • Special FD
    • Flexi FD
    • Senior Citizen FD
    • Regular FD

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
+ Trad plans with a premium above 5 lakhs would be taxed as per applicable tax slabs post 31st march 2023
#Discount offered by insurance company
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ

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