This webpage will give you an overview of the interest you can earn each month by investing ₹50 lakh in FD.
Monthly Interest Rate on ₹50 Lakh Fixed Deposit
The table below shows the monthly and yearly income that can be generated from a ₹50 lakh fixed deposit, with interest rates ranging from 4% to 10% per annum.
| Interest Rate % (p.a.) | Monthly Interest Income | Annual Interest Income |
|---|---|---|
| 4% | ₹16,666 | ₹200,000 |
| 5% | ₹20,833.33 | ₹250,000 |
| 6% | ₹25,000 | ₹300,000 |
| 7% | ₹29,166 | ₹350,000 |
| 8% | ₹33,333.33 | ₹400,000 |
| 9% | ₹37,500 | ₹450,000 |
| 10% | ₹41,666 | ₹500,000 |
Please note that the above table indicates interest earned each month for different interest rates. This interest rate depends on the Banks/ NBFCs.
₹50 Lakh FD Interest Per Month by Banks & NBFCs
₹50 lakh FD interest rates can vary across different financial institutions, such as public sector banks, private sector banks, small finance banks, and non-banking financial companies (NBFCs). It’s important to compare the potential earnings based on the interest rates offered by these lenders. This can help you identify the most competitive options and maximise the monthly income from your fixed deposit investment.
₹50 Lakh FD Interest per Month by Public Sector Banks
| Bank | Interest Rate (p.a.) | Monthly Interest (approx.) | Yearly Interest (approx.) |
|---|---|---|---|
| Punjab & Sind Bank | 7.40% | ₹30,833 | ₹3,70,000 |
| Indian Overseas Bank | 7.30% | ₹30,417 | ₹3,65,000 |
| Bank of Baroda | 7.25% | ₹30,208 | ₹3,62,500 |
| Bank of India | 7.25% | ₹30,208 | ₹3,62,500 |
| Canara Bank | 7.25% | ₹30,208 | ₹3,62,500 |
| Central Bank of India | 7.25% | ₹30,208 | ₹3,62,500 |
| Indian Bank | 7.25% | ₹30,208 | ₹3,62,500 |
| Punjab National Bank | 7.25% | ₹30,208 | ₹3,62,500 |
| Union Bank of India | 7.25% | ₹30,208 | ₹3,62,500 |
| State Bank of India | 7.10% | ₹29,583 | ₹3,55,000 |
| Bank of Maharashtra | 6.50% | ₹27,083 | ₹3,25,000 |
| UCO Bank | 6.50% | ₹27,083 | ₹3,25,000 |
*Please note that the calculations provided are approximate values based on quarterly compounding. Additionally, returns are dependent upon the current interest rates of the bank, which are subject to change. For the most up-to-date information, please refer to the official website.
₹50 Lakh FD Interest per Month by Private Sector Banks
| Bank | Interest Rate(p.a.) | Monthly Interest(approx.) | Yearly Interest (approx.) |
|---|---|---|---|
| IndusInd Bank | 7.75 | ₹32,291 | ₹387,500 |
| RBL Bank | 7.5 | ₹31,250 | ₹375,000 |
| Bandhan Bank | 7.25 | ₹30,208.33 | ₹362,500 |
| DCB Bank | 7.15 | ₹29,791 | ₹357,500 |
| Karur Vysya Bank | 7 | ₹29,166 | ₹350,000 |
| Federal Bank | 6.8 | ₹28,333.33 | ₹340,000 |
| City Union Bank | 6.75 | ₹28,125 | ₹337,500 |
| Axis Bank | 6.7 | ₹27,916 | ₹335,000 |
| ICICI Bank | 6.7 | ₹27,916 | ₹335,000 |
| HDFC Bank | 6.6 | ₹27,500 | ₹330,000 |
| IDFC First Bank | 6.5 | ₹27,083.33 | ₹325,000 |
*Please note that the calculations provided are approximate values based on quarterly compounding. Additionally, returns are dependent upon the current interest rates of the bank, which are subject to change. For the most up-to-date information, please refer to the official website.
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₹50 Lakh FD Interest per Month by Small Finance Banks
| Bank | Interest Rate(p.a.) | Monthly Interest (approx.) | Yearly Interest (approx.) |
|---|---|---|---|
| Shivalik Small Finance Bank Limited | 8.75 | ₹36,458 | ₹437,500 |
| Jana Small Finance Bank | 8.5 | ₹35,417 | ₹425,000 |
| Ujjivan Small Finance Bank | 8.25 | ₹34,375 | ₹412,500 |
| Equitas Small Finance Bank | 8.2 | ₹34,167 | ₹410,000 |
| Utkarsh Small Finance Bank | 8 | ₹33,333 | ₹400,000 |
| Unity Small Finance Bank | 7.85 | ₹32,708 | ₹392,500 |
| North East Small Finance Bank | 7.75 | ₹32,291 | ₹387,500 |
| AU Small Finance Bank | 7.75 | ₹32,291 | ₹387,500 |
| Fincare Small Finance Bank | 7.65 | ₹31,875 | ₹382,500 |
| Capital Small Finance Bank Limited | 7.5 | ₹31,250 | ₹375,000 |
| Suryoday Small Finance Bank | 6.85 | ₹28,542 | ₹342,500 |
| ESAF Small Finance Bank | 6 | ₹25,000 | ₹300,000 |
*Please note that the calculations provided are approximate values based on quarterly compounding. Additionally, returns are dependent upon the current interest rates of the bank, which are subject to change. For the most up-to-date information, please refer to the official website.
₹50 Lakh FD Interest per Month By NBFCs
| NBFCs | Interest Rate (p.a) | Monthly Interest (approx.) | Yearly Interest (approx.) |
|---|---|---|---|
| Shriram Finance | 8.6 | ₹35,833 | ₹430,000 |
| Bajaj Finance | 8.05 | ₹33,541 | ₹402,500 |
| Mahindra Finance | 8.05 | ₹33,541 | ₹402,500 |
| Sundaram Finance | 7.95 | ₹33,125 | ₹397,500 |
| LIC Housing Finance | 7.75 | ₹32,291 | ₹387,500 |
| PNB Housing Finance Ltd | 7.65 | ₹31,875 | ₹382,500 |
*Please note that the calculations provided are approximate values based on quarterly compounding. Additionally, returns are dependent upon the current interest rates of the bank, which are subject to change. For the most up-to-date information, please refer to the official website.
₹Compare FD Interest Rates From Top Lenders
When considering investing in a Fixed Deposit (FD), you have to research and select the lender that aligns with your financial objectives. To assist you in making an informed decision, here is a list of FD interest rates offered by some of the top lenders:
| Lenders | Interest Rates p.a. | FD Tenure |
|---|---|---|
| HDFC Bank | 4.50% to 7% | 3 months to 10 years |
| Axis Bank | 5.75% to 7.00% | 6 months to 5 years |
| Axis Bank | 5.75% to 7.00% | 6 months to 5 years |
| SBI Bank | 4.75% to 6.50% | 3 months to 10 years |
| Canara Bank | 5.50% to 6.70% | 3 months to 10 years |
| ICICI Bank | 4.50% to 6.90% | 3 months to 10 years |
| PNB | 4.50% to 6.50% | 3 months to 10 years |
| Bank of Baroda | 5.50% to 6.50% | 3 months to 10 years |
| Indian Bank | 3.50% to 6.10% | 3 months to 10 years |
| IDBI Bank | 4.50% to 4.80% | 3 months to 20 years |
| IndusInd Bank | 3.50% to 7.25% | 7 days to 3 years |
| Kotak Mahindra Bank | 4.00% to 6.20% | 3 months to 10 years |
| RBL Bank | 4.75% to 7.00% | 3 months to 20 years |
| IDFC First Bank | 4.50% to 7.00% | 3 months to 10 years |
| Karnataka Bank | 4.00% to 5.80% | 3 months to 10 years |
| Central Bank of India | 4.75% to 6.25% | 3 months to 10 years |
| Indian Overseas Bank | 4.50% to 6.50% | 3 months to 10 years |
| Bank of Maharashtra | 4.75% to 6.00% | 3 months to 10 years |
| Tamilnad Mercantile Bank (TMB) | 5.25% to 7.00% | 7 days to 10 years |
| City Union Bank (CUB) | 3.00% to 5.25% | 3 months to 10 years |
| J&K Bank | 3.50% to 7.10% | 7 days to 10 years |
| South Indian Bank | 2.90% to 7.00% | 7 days to 10 years |
Note- The interest rates are subject to change. Please check the official website for the latest information.
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Steps to Open an FD Account For ₹50 Lakh
To open a Fixed Deposit (FD) account, you can choose between online and offline channels. Here are the steps to follow when opening an FD account for ₹50 lakh:
For the Online Process:
Step 1: Visit your online banking portal and locate the option for fixed deposits or term deposits.
Step 2: Select the “Open FD” or “Create New FD” option and proceed to accurately fill out the online application form with the required details.
For the Offline Process:
Step 1: Visit the nearest branch of your preferred bank or financial institution.
Step 2: Obtain and accurately complete the paper-based application form for opening a fixed deposit account.
Step 3: Attach the necessary documentation, such as identity proof, address proof, and any other required documents, to the application form.
Step 4: Submit the completed application form along with the deposit amount, either in cash or by cheque, to the bank representative.
Eligibility Criteria For ₹50 Lakh FD
To open a ₹50 lakh fixed deposit, a variety of entities are eligible. They include:
We have,
- Indian Residents
- Sole Proprietorship Firms
- Partnership Firms
- Companies
- Hindu Undivided Families (HUFs)
- Associations
- Clubs
- Societies
- Family Trusts
Documents Required For ₹50 Lakh FD
Here are the key documents required for opening a ₹50 lakh Fixed Deposit (FD) account:
- Identity Proof: Aadhaar Card, Passport, Voter ID, or Driving License.
- Address Proof: Utility bills, Passport, Aadhaar Card, Rent Agreement, or Driving License.
- PAN Card: Mandatory for FD investments above ₹50,000.
Things to Note Before Investing in ₹50 Lakh FD
Investing ₹50 lakh in an FD is a significant financial decision, and it’s essential to evaluate all aspects carefully before committing your funds. Here are some important things to note before investing ₹50 lakh in a Fixed Deposit (FD):
- Interest Rates: Compare the interest rates offered by different banks and financial institutions for FDs of ₹50 lakh. Higher interest rates can yield better returns on your investment.
- Safety of Investment: Ensure that the bank or financial institution where you plan to invest is reputable and has a strong financial standing. Investing in FDs with well-established banks can minimise the risk of default.
- Tenure: Decide on the tenure of the FD based on your financial goals and liquidity requirements. Longer tenures generally offer higher interest rates, but they also lock your money for a longer period.
- Premature Withdrawal Penalties: Understand the premature withdrawal rules and penalties associated with the FD. Some banks may charge a substantial penalty if you withdraw the FD before maturity.
- Tax Implications: Interest earned on FDs is taxable as per your income tax slab rates. If the interest income exceeds the threshold limit, you may need to pay tax on the interest earned.
- Senior Citizen Rates: If you are a senior citizen, some banks offer higher interest rates on FDs. Make sure to check if you are eligible for any special rates.
- Compounding Frequency: Choose the compounding frequency (quarterly, half-yearly, or annually) that best suits your investment goals. Higher compounding frequencies can result in higher returns.
- Loan Against FD: Some banks allow you to take a loan against your FD. Consider this option if you may need liquidity in the future while keeping your FD intact.
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