Monthly FD Interest on ₹50 Lakh

What is FD Interest?

FD interest stands for Fixed Deposit interest. It is the interest you earn on your money when you deposit it in a bank for a fixed period.

FD interest rates are generally higher than what you get with regular savings accounts. This makes them a good option for people who are looking for a safe and guaranteed way to grow their money over a specific period.

Introduction to FD Calculator

An FD calculator, also known as a fixed deposit calculator or fixed deposit return calculator, is an online financial tool offered by many banks and financial institutions on their websites. It helps you estimate the maturity amount you will receive on your fixed deposit (FD) investment.

Comparison Between

Fixed Deposits, Guaranteed Return Plans & Debt Mutual Fund

Guaranteed Return Plans, Fixed Deposits &
Debt Mutual Fund

Guaranteed Return Plans

Returns Before Tax

7.5% ^(TAX-FREE)

Returns After Tax

7.5%

Guaranteed Returns

Yes

Life Cover

Yes

Tax on Profit

Tax Free*

Risk

No Risk

Still Better than FD’s and Debt Mutual Fund

Fixed Deposits

Returns Before Tax

7% ^(TAXABLE)

Returns After Tax

4.8%

Guaranteed Returns

Yes

Life Cover

No

Tax on Profit

Taxable

Risk

Low Risk

Debt Mutual Fund

Returns Before Tax

8% ^(TAXABLE)

Returns After Tax

5.5%

Guaranteed Returns

No

Life Cover

No

Tax on Profit

Taxable

Risk

High Risk

VIEW PLANS

*For annual premium upto ₹5 Lacs

Monthly Interest on ₹50 Lakh FD in Different Banks

Interest rates on Fixed Deposits (FDs) can vary depending on the bank or type of FD (regular, senior citizen etc.). Let us learn the monthly interest on ₹50 lakh for various banks:

*Disclaimer: The FD interest rates listed above are effective as on 01 April 2024 and are subject to change by the issuer any time.

Monthly Interest for ₹50 Lakh in FD for Different Interest Rates

Let us assume a ₹50 lakh FD with 5 years tenure and for different interest rates. The monthly FD interest on ₹50 lakh is as follows:

People also read: Which Bank has the Highest FD Interest Rate?

Benefits of Investing in FD

Fixed deposits (FDs) are a popular investment option in India, especially for risk-averse investors. Some of the key benefits of investing in FDs are listed below:

• Assured returns: Unlike stocks or mutual funds, FDs offer a fixed rate of interest that is predetermined at the time of investment. This provides stability and predictability to your investment.

• Safety and security: FDs are considered a safe investment option. Deposits up to Rs 5 lakh are insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC) in case of bank failure.

• Flexible tenure: FDs offer a wide range of tenures, ranging from 7 days to 10 years. This allows you to choose an investment period that aligns with your financial goals.

• Liquidity: While FDs offer fixed tenure, some options provide liquidity. You can typically withdraw your money before maturity by paying a penalty. This provides some flexibility in case of emergencies.

• Higher interest rates than savings accounts: FDs typically offer higher interest rates than regular savings accounts. This can help you grow your money at a faster pace.

• Loan facility: Many banks allow you to take a loan against your FD. This can be helpful if you need money urgently.

• Tax benefits: In some cases, FD investments can offer tax benefits. For example, the interest earned on tax-saving FDs (up to a certain limit) can be deducted from your taxable income under Section 80C of the Income Tax Act.

TDS for Fixed Deposit Interest on ₹50 Lakh

Whether or not TDS (Tax Deducted at Source) applies to the interest on your ₹50 lakh fixed deposit (FD) depends on two main factors:

1. Total interest earned in a financial year:

   The Indian Income Tax Act mandates banks to deduct TDS on FD interest only if it exceeds a certain limit in a financial year. This limit is:

   • ₹40,000 for non-senior citizens.

   • ₹50,000 for senior citizens (individuals aged 60 years or above).

2. PAN card:

   • If you have provided your PAN details to the bank, the TDS deduction rate will be 10% on the interest amount exceeding the limit.

   • If you have not provided your PAN, the bank is required to deduct TDS at a higher rate of 20% on the entire interest earned.

Bank FD Interest Rates

Bank FD Calculator

NRI-NRE FD Rates

Allahabad Bank FD Interest Rates

Andhra Bank FD Interest Rates

Assam Gramin Vikash Bank FD Interest Rates

AU Small Finance Bank FD Interest Rates

Axis Bank FD Rates

Bajaj Finance FD Interest Rates

Bandhan Bank FD Interest Rates

Bangiya Gramin Vikash Bank FD Interest Rates

Bank of Baroda FD Interest Rates

Bank of Ceylon FD Interest Rates

Bank of India FD Interest Rates

Bank of Maharashtra FD Interest Rates

Baroda Gujarat Gramin Bank FD Interest Rates

Canara Bank FD Interest Rates

Capital Small Finance Bank FD Interest Rates

Central Bank of India FD Interest Rates

Citibank FD Interest Rates

City Union Bank FD Interest Rates

Corporation Bank FD Interest Rates

Dakshin Bihar Gramin Bank FD Interest Rates

DBS Bank FD Interest Rates

Dena Bank FD Interest Rates

Dhanlaxmi Bank FD Interest Rates

Equitas Small Finance Bank FD Interest Rates

ESAF Small Finance Bank FD Interest Rates

HDFC Bank FD Interest Rates

HSBC FD Interest Rates

ICICI Bank FD Interest Rates

IDBI Bank FD Interest Rates

IDFC First Bank FD Interest Rates

Indian Bank FD Interest Rates

Indian Overseas Bank FD Interest Rates

IndusInd Bank FD Interest Rates

Jana Small Finance Bank FD Interest Rates

Karnataka Bank FD Interest Rates

Kerala Gramin Bank FD Interest Rates

Kotak Mahindra Bank FD Interest Rates

Lakshmi Vilas Bank FD Interest Rates

Muthoot Capital

Nainital Bank FD Interest Rates

Odisha Gramya Bank FD Interest Rates

Paschim Banga Gramin Bank FD Interest Rates

Paytm Payments Bank FD Interest Rates

PNB FD Interest Rates

Prathama UP Gramin Bank FD Interest Rates

RBL Bank FD Rates

Saurashtra Gramin Bank FD Interest Rates

SBI FD Interest Rates

Shriram Finance FD Interest Rates

State Bank of Hyderabad FD Interest Rates

State Bank of Mysore FD Interest Rates

State Bank of Travancore FD Interest Rates

Syndicate Bank FD Interest Rates

Tamil Nadu Grama Bank FD Interest Rates

Telangana Grameena Bank FD Interest Rates

Tripura Gramin Bank FD Interest Rates

UCO Bank FD Interest Rates

Ujjivan Small Finance Bank FD Interest Rates

Union Bank of India FD Interest Rates

Uttar Bihar Gramin Bank FD Interest Rates

Uttarakhand Gramin Bank FD Interest Rates

Vijaya Bank FD Interest Rates

Yes Bank FD Interest Rates

Expand

Allahabad Bank FD Calculator

Andhra Bank FD Calculator

AU Bank FD Calculator

Axis Bank FD Calculator

Bajaj Finance FD Calculator

Bandhan Bank FD Calculator

Bank of Baroda FD Calculator

Bank of India FD Calculator

Bank of Maharashtra FD Calculator

Canara Bank FD Calculator

Central Bank FD Calculator

Corporation Bank FD Calculator

Equitas Small Finance Bank FD Calculator

HDFC Bank FD Calculator

ICICI Bank FD Calculator

IDBI Bank FD Calculator

IDFC Bank FD Calculator

Indian Bank FD Calculator

Indian Overseas Bank FD Calculator

IndusInd Bank FD Calculator

Karnataka Bank FD Calculator

Karur Vysya Bank FD Calculator

Kotak Bank FD Calculator

Mahindra Finance FD Calculator

OBC Bank FD Calculator

Odisha Gramya Bank FD Calculator

PNB Bank FD Calculator

SBI FD Calculator

Shriram Finance FD Calculator

Syndicate Bank FD Calculator

Tripura Gramin Bank FD Calculator

UCO Bank FD Calculator

Union Bank FD Calculator

Yes Bank FD Calculator

Expand

HDFC NRE FD Rates

Maybank Malaysia FD Rates

SBI NRI FD Rates

Axis NRI FD Rates

Maybank Singapore FD Rates

Yes Bank NRI FD Rates

In Conclusion

Investing ₹50 lakh in a monthly fixed deposit offers a stable and reliable source of interest income. With careful planning and consideration of interest rates and tenure, you can maximize returns and achieve financial goals effectively.