₹30 Lakhs Fixed Deposit (FD) Interest Per Month in NBFCs & Banks 10 Jan 2024 (2024)

Different banks and financial institutions offer varied interest rates on a ₹30 Lakhs fixed deposit. The current rates range between 2.50% to 8% interest rate for a ₹30 Lakh fixed deposit.

Yes, the ₹30 Lakh fixed deposit’s interest per month is fully taxable. However, you can save taxes up to ₹1.5 Lakhs on your fixed deposits of ₹30 Lakhs by choosing a tax saver FD.

There is no such minimum and maximum cap on the₹30 Lakh fixed deposit interest per month. You will be regularly receiving monthly interest at a fixed rate of interest for a fixed tenor or period of time.

The documents required for a ₹30 lakhs FD includes your identity proof, signature proof, as well as address proof. These documents generally include your passport, voter ID card, Aadhaar card, ration Card, driving licence.

For your address proof, you can show these documents or your utility bills. If you are a senior citizen, you need to submit your age proof along with Form 15H to verify your eligibility as a senior citizen to get a higher FD interest.

For investing in a ₹30 lakhs fixed deposit, you must be at least 18 years old, and you should possess a PAN card. If you are a member of a Hindu Undivided Family (HUF), you should have a separate PAN card issued in your name.

You can open a ₹30 Lakh fixed deposit even if you are a minor, but you will need a legal guardian to invest in your stead.

You can calculate the monthly interest on a ₹30 lakhs FD online or manually. If you choose the online route, select your customer type and the deposit type. Then, enter the FD amount and maturity period, and then the calculator shows the interest pay out and your total earnings.

You can also calculate your interest manually using the formula A = P (1 + r/n) ^(n*t), where A refers to the maturity amount, P refers to the Principal Amount, r is the interest rate, and n is the compounding frequency, and t refers to the years.