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How you can invest 10 lakh to maximize monthly interest

  • Highlights

  • Determine your investment returns to plan your finances

  • Calculate maturity amount with Bajaj Finance FD Calculator

Bank interest rates have been on the slide, and stock markets are highly volatile, resulting from the effects of the massive changes at the economic level. This is leading to anxious investors, especially those dependent on their investments. Here, corporate fixed deposits (FDs) come into the picture as the solution for low-interest rates in banks.

Corporate fixed deposits offering higher interest rates than banks are worthy of an investment portfolio for financial stability. Investors create 10 lakh FD for a specified period at predetermined interest rates that do not fluctuate due to economic factors affecting other investments. Once an investor has invested a lump sum in a fixed deposit at the prevailing 10 lakh FD interest rate, it remains the same until maturity, without fluctuation during the entire tenor of fixed. Therefore, FDs ensure investors of attractive returns and the 10 lakh FD continue to grow over time without any interest risk.

Bajaj Finserv Fixed Deposit

 

Here's why FDs are a preferred investment option:

Financial stability with fixed deposits

Investing in a suitable fixed deposit and laddering can help you achieve financial stability over time.

There are two types of fixed deposits - cumulative fixed deposits and non-cumulative fixed deposits. These two FDs can be differentiated based on interest calculations.

- Investors can select non-cumulative FDs for regular interest payouts on monthly, quarterly, half-yearly, or annually, whereas investors who intend to create wealth can invest in cumulative FDs.

If you have an amount of Rs. 10 lakh and look at a bank to invest your funds, you may lose hugely on interest. At present, the monthly interest for 10 lakh in a bank can be availed of at a maximum rate of 4.5%.

Instead, you can invest in corporate fixed deposits with non-financial banking companies (NBFCs) to earn interest at a higher rate, like Bajaj Finance FDs at up to 7.95% p.a.

Currently, where bank deposits offer interest rates of around 4.5%, Bajaj Finance Fixed Deposits provide an attractive interest rate of up to 7.95% p.a. The deposits with Bajaj Finance have been rated FAAA/Stable rating from CRISIL and MAAA (stable) from ICRA, which indicates the highest level of safety and lowest investment risk on these deposits. Such stable ratings of Bajaj Finance FDs are another reason than interest rates to invest in them.

Additional Read : Monthly Interest Rates for 1 Lakh Fixed Deposit.

How much interest will I get for a 10 lakh fixed deposit?

Here is how the calculation for FD interest on your funds using an online FD calculator works.

Monthly Interest on ₹10 Lakh FD

Tenor Rates Interest on ₹10 Lakh Fixed Deposit
1-2 Years (12-23 Months) 7.05% p.a. Rs. 56,500- Rs. 1,11,092
2-3 Years (24-35 Months) 7.50% p.a. Rs. 1,32,096 - Rs. 1,98,339
3-5 Years (36-60 Months) 7.75% p.a. Rs. 2,18,186 – Rs. 3,89,493

If you are a non-senior citizen in India and have invested Rs. 10 lakh for a tenor of 36-months online, then the interest calculation is as follows:

For Cumulative FD:

Applicable Interest Rate - 7.50%
Interest Payout at maturity - Rs. 2,18,186
Maturity Amount - Rs.12,18,186

For Non-cumulative FD:

Period Interest Rate Interest Payout
Monthly 7.25% p.a. Rs. 1,98,000
Quarterly 7.30% p.a. Rs. 1,98,900
Half-yearly 7.36% p.a. Rs. 2,00,700
Yearly 7.50% p.a. Rs. 2,04,000

To increase the FD returns, you can open a fixed deposit in the name of a senior citizen in your family.

Your returns will increase in the following way with a senior citizen FD:

For Cumulative FD:

Applicable Interest Rate – 7.95% p.a.
Interest Payout at maturity - Rs. 2,26,761
Maturity Amount - Rs.12,26,761

For Non-cumulative FD:

Period Interest Rate Interest Payout
Monthly 7.49% p.a. Rs. 2,04,900
Quarterly 7.53% p.a. Rs.2,06,100
Half-yearly 7.61% p.a. Rs. 2,07,900
Yearly 7.95% p.a. Rs. 2,11,500
  • Bajaj Finance FD interest rate ranges between 6.80% - 7.95%.

  • Senior citizens can earn additional interest rates on their fixed deposits

Thus, fixed deposit monthly interest for Rs. 10 lakh FD in a bank is just Rs.45,000, whereas Bajaj Finance FD can offer an interest of Rs. 67,500 in a year.

Benefits of Investing Rs.10 Lakh in Bajaj Finance FD

An investor can avail the following advantages by investing in Bajaj Finance FD:

  • Higher Interest Rate as Compared to Banks
    The foremost benefit is a higher interest rate as compared to banks that go up to 7.95% p.a. It is an attractive feature as you can earn higher interest on Rs. 10 lakh FD without losing on the safety of funds.

  • Secured Returns
    Bajaj Finance Fixed Deposit offers you attractive returns at a predetermined interest rate. Once you have created your fixed deposits, the interest rate applicable to your deposit will not be changed until maturity. Bajaj Finance updates its interest rate and provides an online FD calculator on its official website so that an investor can ascertain the FD return quickly, even before investing their funds.

  • Flexibility
    An investor can invest in FDs as part of the portfolio and choose from the tenor for up to 60 months to multiply the invested funds to achieve the financial goal, whether its wealth accumulation or investing spare funds for a short term period. Bajaj Finance fixed deposit tenor ranges between 12-60 months. You can make deposits with different maturities to ladder your investment.

  • Convenient Online Investment
    Bajaj Finance allows investors to create fixed deposits from the comfort of their homes. You can invest a significant amount like Rs. 10 lakh FD online.

Thus, fixed deposits can add value to your investment portfolio and provide maximum returns with the right choice of fixed deposit, tenor, and issuer.

Also Read How much monthly interest can a 5 crore FD earn?

Here's why FDs are a preferred investment option:

Financial stability with fixed deposits

Investing in a suitable fixed deposit and laddering can help you achieve financial stability over time.

There are two types of fixed deposits - cumulative fixed deposits and non-cumulative fixed deposits. These two FDs can be differentiated based on interest calculations.

- Investors can select non-cumulative FDs for regular interest payouts on monthly, quarterly, half-yearly, or annually, whereas investors who intend to create wealth can invest in cumulative FDs.

If you have an amount of Rs. 10 lakh and look at a bank to invest your funds, you may lose hugely on interest. At present, the monthly interest for Rs. 10 lakh in a bank can be availed of at a maximum rate of 5% p.a.

Instead, you can invest in corporate fixed deposits with non-financial banking companies (NBFCs) to earn interest at a higher rate, like Bajaj Finance FDs at up to 7.95% p.a.

Currently, where bank deposits offer interest rates of around 5% p.a, Bajaj Finance Fixed Deposits provide an attractive interest rate of up to 7.95% p.a. The deposits with Bajaj Finance have been rated FAAA/Stable rating from CRISIL and MAAA (stable) from ICRA, which indicates the highest level of safety and lowest investment risk on these deposits. Such stable ratings of Bajaj Finance FDs are another reason than interest rates to invest in them.

Additional Read: Monthly Interest Rates for 1 Lakh Fixed Deposit.