Traditional investment tools, like Fixed Deposits, are often ignored by investors who prefer avenues that provide them with high returns. However, in April 2022, the Reserve Bank of India’s Monetary Policy Committee began raising the repo rates, which caused several financial institutions to raise their fixed deposit interest rates.
If you have accumulated a large amount of savings or have windfall funds, you can consider parking them in a fixed deposit. This investment tool is known to provide guaranteed returns, making it a stable and secure option for risk-averse investors.
FDs will also provide you with guaranteed returns as it is not linked to the market. You can also opt for a monthly interest payout to improve your overall finances, as an added benefit.
Find out about the various applicable interest rates offered by our partners, including those of other FD issuers.
Deposit Amount
₹
Tenure
Months
Interest Rate
%
Interest Payout
Your Total Maturity Amount is
Your Total Maturity Amount is
Total Investment
Total Interest Earned
Monthly Interest Payout on ₹50 Lakh Fixed Deposit
The table below indicates the monthly interest payout on a ₹50 Lakh fixed deposit you could earn across different banks and NBFCs for a tenor of 5 years:
Bank/NBFC/HFC | Non-Senior Citizen (p.a.) | Monthly Interest Payout | Senior Citizen (p.a.) | Monthly Interest Payout |
Bajaj Finance Ltd. | 8.05% | ₹ 33,542 | 8.30% | ₹ 34,583 |
PNB Housing Finance Ltd. | 7.65% | ₹ 31,875 | 7.95% | ₹ 33,125 |
Mahindra Finance Ltd. | 8.05% | ₹ 33,542 | 8.30% | ₹ 34,583 |
LIC Housing Finance | 7.75% | ₹ 32,292 | 8.00% | ₹ 33,333 |
Shriram Finance | 8.50% | ₹ 35,417 | 9.00% | ₹ 37,500 |
ICICI Bank | 7.00% | ₹ 29,167 | 7.50% | ₹ 31,250 |
HDFC Bank | 7.00% | ₹ 29,167 | 7.50% | ₹ 31,250 |
IDFC First Bank | 7.00% | ₹ 29,167 | 7.50% | ₹ 31,250 |
Axis Bank | 7.00% | ₹ 29,167 | 7.75% | ₹ 32,292 |
IndusInd Bank | 7.25% | ₹ 30,208 | 8.00% | ₹ 33,333 |
YES Bank | 7.25% | ₹ 30,208 | 8.00% | ₹ 33,333 |
Jana Small Finance Bank | 7.25% | ₹ 30,208 | 7.75% | ₹ 32,292 |
Kotak Mahindra Bank | 6.20% | ₹ 25,833 | 6.25% | ₹ 26,042 |
SBI | 6.50% | ₹ 27,083 | 7.50% | ₹ 31,250 |
AU Small Finance Bank | 7.25% | ₹ 30,208 | 7.75% | ₹ 32,292 |
*Disclaimer: The above-mentioned rates are effective as of 20 October 2023, and are subject to change at the issuer’s discretion.
Monthly Interest for ₹50 Lakh in Fixed Deposit
Here is an estimate of the monthly interest payout you would receive on a ₹50 Lakh fixed deposit -
Deposit Amount | Interest Rate (p.a.) | Monthly Interest Payout |
₹50 Lakh | 3.00% | ₹ 12,500 |
₹50 Lakh | 3.50% | ₹ 14,583 |
₹50 Lakh | 4.00% | ₹ 16,667 |
₹50 Lakh | 4.50% | ₹ 18,750 |
₹50 Lakh | 5.00% | ₹ 20,833 |
₹50 Lakh | 5.50% | ₹ 22,917 |
₹50 Lakh | 6.00% | ₹ 25,000 |
₹50 Lakh | 6.50% | ₹ 27,083 |
₹50 Lakh | 7.00% | ₹ 29,167 |
₹50 Lakh | 7.50% | ₹ 31,250 |
₹50 Lakh | 8.00% | ₹ 33,333 |
₹50 Lakh | 8.50% | ₹ 35,417 |
₹50 Lakh | 9.00% | ₹ 37,500 |
₹50 Lakh | 9.50% | ₹ 39,583 |
₹50 Lakh | 10.00% | ₹ 41,667 |
Benefits of Opting for Monthly Payout in FDs
Here are some of the advantages you can enjoy by choosing FDs to park your funds in:
Higher interest rates than a savings account
Easy deposit withdrawal via partial or premature withdrawal options
Quick and hassle-free online application procedure
Overdraft against your FD for all emergency requirements
Auto-renewal facility offered by most FD issuers
Now that you have a better understanding of the potential returns you could earn on a ₹50 Lakh FD, choose an issuer of your choice. On Bajaj Markets, you can browse multiple FD issuers who offer competitive interest rates, with some also offering tax-saving benefits u/s 80C of the Income Tax Act.
Additionally, on the platform, you can also make use of the FD interest calculator to determine the potential returns you could earn on your fixed deposit investment.
Check Monthly Interest Rates on Your Fixed Deposits | ||
Monthly Interest on ₹10 Crores FD | Monthly Interest on ₹5 Crore FD | Monthly Interest on ₹3 Crores FD |
Monthly Interest on ₹2 Crore FD | Monthly Interest on ₹1.5 Crore FD | Monthly Interest on ₹1 Crore FD |
Monthly Interest on ₹80 Lakh FD | Monthly Interest on ₹70 Lakhs FD | Monthly Interest on ₹60 Lakhs FD |
Monthly interest on ₹40 Lakh FD | Monthly Interest on ₹35 Lakh FD | Monthly Interest on ₹30 Lakhs FD |
Monthly Interest on ₹25 Lakh FD | Monthly interest on ₹20 Lakh FD | Monthly interest on ₹15 Lakh FD |
Monthly interest on ₹10 Lakh FD | Monthly Interest on ₹8 Lakh FD | Monthly Interest on ₹6 Lakhs FD |
Monthly Interest on ₹5 Lakhs FD | Monthly Interest on ₹4 Lakhs FD | Monthly Interest on ₹3 Lakhs FD |
Monthly interest on ₹2 Lakh FD | Monthly Interest on ₹1 Lakh FD | Monthly Interest on ₹10000 FD |
Disclaimer
The information provided by BFDL herein above is related to the Non-Partnered Banks/ NBFCs and is just for the purpose of information and under no circ*mstances the information provided hereinabove is intended to be source of advice or recommending any financial investment advice or endorsem*nt of any sort.
The information including interest rates with regard to fixed deposit, provided on this website is gathered through publicly available sources over the internet and is considered as accurate and reliable to the best of our knowledge. BFDL disclaims any responsibility or liability regarding inaccuracies, omissions, mistakes etc. as well as offers by the Non-Partnered Banks. The use of information set out is entirely at the User’s own risk and User should exercise due care prior taking of any decision, on the basis of information mentioned hereinabove. You are advised to visit/ contact the respective Banks/ NBFCs to verify the information before making any investment or opening an account. Further, BFDL does not undertake any responsibility or liability to update this information. YOU ARE SOLELY RESPONSIBLE FOR ANY LIABILITY OR DAMAGE YOU INCUR THROUGH ACCESS TO OR USE OF THE SITE OR SUCH INFORMATION OR MATERIALS EXCEPT WHERE THE LAWS AND REGULATIONS OF A PARTICULAR JURISDICTION CONCERNING WARRANTIES CANNOT BE WAIVED. Additionally, display of any trademarks, trade names, logo and other subject matters of intellectual property owners. Display of such Intellectual Property along with the related product information does not imply BFDL’s partnership with the owner of the Intellectual Property of such products.
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FAQs on Monthly Interest for ₹50 Lakh FD
As per the IT Act, if your annual FD interest is above₹40,000, a minimum of 10% TDS will be deducted.
The interest you earn on a ₹50 Lakh FD every month will depend on the interest rate offered by the bank or the NBFC. The interest will also depend on the tenor of the fixed deposit.
There are a few documents that you must carry with you when you plan on investing in a ₹50 Lakhs fixed deposit. The documents needed are a PAN card, KYC documents, identity proof,and passport-size photographs.
You can easily open a ₹50 Lakhs FD if you are a citizen of India, a Non-resident citizen of India, or an overseas citizen of India. Moreover, the minimum required age for opening an FD account is 18 years.
You can calculate monthly interest for a ₹50 Lakhs fixed deposit via simple interest or compound interest formula.
The formula for the simple interest method is (P x R x T)/100. Here P equals the principal amount, R equals the interest rate, and T equals the tenor of the FD deposit.
The formula for the compound interest method is P ( 1 + r/100)n -1. Here, P equals the principal amount, R equals the interest rate, and N equals the number of compound interest calculations in a year.
