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FDs or Fixed Deposits are among the safest investment options in India and people prefer to invest in FDs for their risk-free nature and numerous benefits. The FDs serve the purpose of investors looking for stable income without any market fluctuations. Investing 1 Crore in an FD will ensure the financial security of the investor and family. It will allow guaranteed returns at the end of the term without any fear of your money getting lost due to the volatility or instability of the market. In this post, let us understand a 1 Crore FD and the interest that you can avail per month..
1 crore FD interest per month sounds like a good proposition, especially for those seeking steady fixed income minus any market fluctuations or volatility. Here is a handy guide towards the same.
While earning 1 crore interest per month would require you to invest a humungous amount (running into numerous zeroes), you can always look up 1 crore fixed deposit how much income per month if that is what you are targeting at retirement.
1 Crore FD Interest Per Month | Annual Income On 1 Crore Fixed Deposit | Monthly Interest on 1 Crore FD |
7% | ₹ 7 Lakhs | ₹ 58,333 |
6.50% | ₹ 6.5 Lakhs | ₹ 54,167 |
5.50% | ₹ 5.5 Lakhs | ₹ 45,833 |
5% | ₹ 5 Lakhs | ₹ 41,666 |
There are many queries about pertaining to interest for 1 crore in SBI per month or other banks. Here are the details related to monthly interest for 1 crore in banking and non-banking financial institutions. Note that senior citizens get an extra 0.25-0.75% incentive for interest rates.
Here are the average interest rates at leading banking and financial institutions (note that rates are subject to change).
Bank/NBFC | Regular citizens (p.a) | Monthly interest payout | Senior citizens (p.a) | Monthly interest payout |
ICICI Bank | 7.00% | INR 58,333 | 7.50% | INR 62,500 |
State Bank of India | 6.50% | INR 54,167 | 7.50% | INR 62,500 |
PNB Housing Finance | 7.65% | INR 63,750 | 7.95% | INR 66,250 |
HDFC Bank | 7.00% | INR 58,333 | 7.50% | INR 62,500 |
Axis Bank | 7.00% | INR 58,333 | 7.75% | INR 64,583 |
Kotak Mahindra Bank | 6.20% | INR 51,667 | 6.25% | INR 52,083 |
IDFC First Bank | 7.00% | INR 58,333 | 7.50% | INR 62,500 |
Yes Bank | 7.25% | INR 60,417 | 8.00% | INR 66,667 |
AU Small Finance Bank | 7.25% | INR 60,417 | 7.75% | INR 64,583 |
Jana Small Finance Bank | 7.25% | INR 60,417 | 7.75% | INR 64,583 |
IndusInd Bank | 7.25% | INR 60,417 | 8.00% | INR 66,667 |
Shriram Finance | 8.50% | INR 70,833 | 9.00% | INR 75,000 |
LIC Housing Finance | 7.75% | INR 64,583 | 8.00% | INR 66,667 |
Mahindra Finance Ltd. | 8.05% | INR 67,083 | 8.30% | INR 69,167 |
Bajaj Finance Ltd. | 8.05% | INR 67,083 | 8.30% | INR 69,167 |
*Disclaimer: The above-mentioned rates are subject to change.
NBFC | Rate of Interest | Interest Amount/Month | Maturity Sum |
Bajaj Finance FD | 7.90% | ₹63,583 | ₹1,46,25,382 |
PNB Housing Finance FD | 7.75% | ₹60,417 | ₹1,43,56,293 |
Mahindra Finance FD | 8.00% | ₹62,500 | ₹1,46,93,281 |
Bank Name | Rate of Interest |
Monthly Interest Paid |
Maturity Sum |
State Bank of India | 7.50% |
₹74,991 |
₹1,44,99,480 |
HDFC Bank | 7.75% |
₹77,973 |
₹1,46,78,429 |
Punjab National Bank | 7.00% |
₹69,129 |
₹1,41,47,782 |
Axis Bank | 7.75% |
₹77,973 |
₹1,46,78,429 |
Bank of India | 6.75% |
₹63,752 |
₹1,39,74,987 |
IDFC Bank | 7.50% |
₹74,991 |
₹1,44,99,480 |
As you plan to open an FD account, certain factors may affect the interest rates. Here are a few of them discussed below:
The features that differentiate senior citizens from the general public are mentioned herein below:
As the types of FD is concerned, here are some of its types mentioned below:
Fixed Deposits come with several advantages. Here are some of them discussed:
There are various tax-related aspects that you should consider in this regard. They include the following:
Most banks in India along with the non-banking financial institutions do not levy TDS on fixed deposits where the interest earned is within INR 40,000. But if the interest earned is beyond 40,000 the FD interest amount is taxable. Hence, if you are investing in an INR 1 crore FD monthly interest, it will be completely taxable.
So, 10% tax would be deducted by banks in the form of TDS on the INR 1 crore FD per month. Further, if the investor comes under the high-income category, as additional pay of taxes would be charged at the time of filing your returns.
Opening an FD is no big deal these days. You can choose to do it either from the comfort of your home or by visiting the nearest bank. Let us discuss both at length.
You can access the internet banking facility of a bank with which you have an account. This is mostly available in the form of an app. You just have to fill up an online form and submit it to open your FD account. And since you already have an account in the bank, you would not be required to provide KYC. By using the internet facility, you will be able to transfer funds to the FD account.
You can visit the nearest branch of the bank with which you already have an account. You can ask for an FD form which you have to fill up to open an FD account. Once you have duly filled it out, you have to submit it along with the necessary documents. You also have to deposit the required amount for which you will receive a receipt.
Deposit amount | ROI (p.a) | Monthly payout as Interest |
INR 1 Crore | 3.00% | INR 25,000 |
INR 1 Crore | 3.50% | INR 29,167 |
INR 1 Crore | 4.00% | INR 33,333 |
INR 1 Crore | 4.50% | INR 37,500 |
INR 1 Crore | 5.00% | INR 41,667 |
INR 1 Crore | 5.50% | INR 45,833 |
INR 1 Crore | 6.00% | INR 50,000 |
INR 1 Crore | 6.50% | INR 54,167 |
INR 1 Crore | 7.00% | INR 58,333 |
INR 1 Crore | 7.50% | INR 62,500 |
INR 1 Crore | 8.00% | INR 66,667 |
INR 1 Crore | 8.50% | INR 70,833 |
INR 1 Crore | 9.00% | INR 75,000 |
INR 1 Crore | 9.50% | INR 79,167 |
INR 1 Crore | 10.00% | INR 83,333 |
Paybima Team
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