8561
8 min read
Updated on Feb 13, 2024
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.
Table of Contents Show
Also Read: Monthly interest for 5 Lakh FD investment
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 |
Also Read: Best FD Rates in India
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.
Also Read: Post Office Recurring Deposit (RD) Interest Rate
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:
Also Read: How to double your money
Also Read: Best pension plan in India
Also Read: LIC plan – 5 years double money
The features that differentiate senior citizens from the general public are mentioned herein below:
Also Read: Post office gram suraksha scheme calculator
As the types of FD is concerned, here are some of its types mentioned below:
Also Read: Annuity deposit scheme calculator
Fixed Deposits come with several advantages. Here are some of them discussed:
Also Read: Is lic maturity amount taxable
There are various tax-related aspects that you should consider in this regard. They include the following:
Also Read: Best Fixed-income Investment Options That Offer Guaranteed Returns
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 |
As you can see, 1 crore FD interest per month will help you earn a steady, guaranteed and worry-free income. You can accumulate this corpus and put it into an FD (fixed deposit) for keeping your funds safe while earning enough to cover all your monthly expenses. It may also help you retire early with a safety net, and then follow other passions or entrepreneurial pursuits.
Also Read: Post Office Fixed Deposit Interest Rates 2024
Browse PayBima Blogs to read interesting posts related to Health Insurance, Car Insurance, Bike Insurance, Term Life Insurance, and Investment section. You can visit PayBima to Buy Insurance Online.
PayBima Team
PayBima is an Indian insurance aggregator on a mission to make insurance simple for people. PayBima is the Digital arm of the already established and trusted Mahindra Insurance Brokers Ltd., a reputed name in the insurance broking industry with 17 years of experience. PayBima promises you the easy-to-access online platform to buy insurance policies, and also extend their unrelented assistance with all your policy related queries and services.
The Social Security Pension Management Information System (SSPMIS) Mukhyamantri Vridhjan Pension Yojana is the Bihar Government’s social security scheme. This scheme was initiated to offer.
Filing the ITR within the due date is very important. By doing so, taxpayers can evade penalties and other consequences due to not filing or.
In India, many opt for life insurance as a smart move to protect themselves and their families, given the unpredictable future. It's a practical step,.
Taxpayers can claim tax deductions under section 80DDB of the Income Tax Act, 1961, on the treatment expenses of certain specified diseases. This deduction can.
In most cases, House Rent Allowance (HRA) is a part of employees' salary and they can claim an exemption for HRA. Hence, if an employee.
Taxes are important for the financial well-being and the good governance of a country. Without taxes, the functioning of the country gets disturbed. The tax.
When joining a new organization in the middle of a fiscal year, employees need to fill out Form 12B. This form informs the new employer.
Payment of Income Tax is directly related to the economy of a country. Hence, every taxpayer in India is expected to pay income tax responsibly.
You may already know that a rental income or the money earned from renting a property is subject to TDS or tax deducted at the.
We know that almost every individual owns a savings bank account. We also know that the interest earned on your savings accumulated in a savings.
Speak to our advisor
Mahindra Insurance Brokers Limited (A Mahindra Group Company) - Unit-202, A-Wing, 2nd Floor, Amiti Building, Agastya Corporate Park, Kamani Junction, LBS Marg, Kurla West, Mumbai - 400070. Tel: +91 22 66423800
Licenced by IRDAI License No. 261; License Validity : 17-05-2025; Category : Composite Broker; CIN : U65990MH1987PLCO42609 Member of Insurance Brokers Association of India (IBAI).
Insurance is the subject matter of solicitation.
For a seamless experience, use the latest version of Chrome/Firefox/Internet Explorer.
Copyright © 2024 Mahindra Insurance Brokers. All Right Reserved.
Verify your number to activate your best premium offer
Please enter the OTP sent to XXXXXX 4099 to continue