Monthly Interest for an FD of ₹6 Lakhs

While the monthly payout option in FDs offers a secure option to get regular income, it is important to ensure that you get an adequate amount. For this, you need to compare FD rates various issuers offer.

For instance, investing ₹6 Lakhs at an interest rate of 8% will generate a monthly payout of ₹4,000 for a tenor of 5 years. Similarly, if you book an FD for the same amount and tenor at a higher rate of 9.50%, you can earn up to ₹4,750. 

So, comparing rates will help you select the best FD plan that lets you maximise your earnings.

The monthly interest income varies depending on the prevailing rate of interest. The table below highlights the monthly interest on an FD of ₹6 Lakhs with a tenor of 5 years across different interest rates:

Note: The above-mentioned results are indicative and it is recommended to check the actual returns before investing. 

By comparing the interest rates offered by different issuers on an FD of ₹6 Lakhs, you can choose the best option. Refer to the table below for the amount you could receive as interest per month on a fixed deposit of ₹6 Lakhs for a tenor of 5 years.

Note: The above-mentioned rates are as of April 2024 and are subject to change at the issuer’s discretion.

By carefully considering current interest rates across different issuers, you can make informed decisions. This ensures that your hard-earned money is not just preserved but also has the potential for steady growth over time. On Bajaj Markets, you can explore various FD options from a number of issuers.

The information provided by BFDL is related to the rates provided by Banks and Deposit taking NBFCs as available from public domain and under no circumstances is intended to be source of advice or recommendation of any financial investment advice or endorsement of any sort. BFDL disclaims any responsibility or liability regarding inaccuracies, omissions, mistakes etc. as well as offers and use of such 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. Display of any intellectual property along with the related product information does not imply BFDL’s partnership with the owner of the intellectual property of such products and is solely for the purpose of information, unless otherwise provided by BFDL.