Rs. 1.5 Crore FD (Fixed Deposit) Interest Per Month

Discover the benefits of a Rs. 1.5 crore fixed deposit with monthly interest payouts in India. Learn how investing in an FD can secure your financial future.
Interest on Rs. 1.5 Crore FD
4 mins
19 December 2023

Storing funds in a savings account may provide a sense of security, but it lacks effectiveness in fostering financial growth. Inactive money gradually loses value due to inflation, diminishing its purchasing power. To counteract this, consider exploring investment options that not only preserve your capital but also generate returns. Fixed Deposits stand out as a dependable choice in this regard. Opting for an FD not only secures your investment but also guarantees active and sustainable growth.

Advantages of investing in a Bajaj Finance Fixed Deposit

  • Assured returns: FDs provide a fixed interest rate, ensuring a predictable and assured income throughout the tenure of the investment. Bajaj Finance offers FD interest rates of up to 8.60% p.a.
  • Capital protection: FDs, including those from Bajaj Finance, prioritise the safety of the invested capital. With reputed financial standing and highest safety ratings, such as CRISIL AAA/STABLE and [ICRA]AAA(STABLE), Bajaj Finance FDs ensure the security of the principal amount.
  • Flexible tenures: Investors can choose the tenure of their FDs based on their financial goals, ranging from short-term to long-term periods. Bajaj Finance offers FD tenures ranging from 12 to 60 months.
  • Regular income stream: Non-cumulative FDs offer periodic interest payouts, providing investors with a steady income stream, making them suitable for those seeking regular returns.
  • Senior citizen benefits: Many financial institutions like Bajaj Finance offers higher interest rates to senior citizens, providing an additional benefit to individuals in their retirement years.
  • Ease of investment: Opening an FD is a straightforward process, requiring minimal documentation. Online platforms have further simplified the investment process, making it convenient for investors.

These advantages make FDs an attractive investment option for those seeking stability, predictable returns, and capital protection.

Monthly interest payout for a Rs. 1.5 Crore Fixed Deposit

The table below presents the interest amounts earned, considering various interest rates, for an investment of Rs. 1.5 Crore in an FD.

Deposit Amount

Interest Rate (p.a.)

Monthly Interest Payout

Rs. 1.5 Crore

6.00%

Rs. 75,000

Rs. 1.5 Crore

6.50%

Rs. 81,250

Rs. 1.5 Crore

7.00%

Rs. 87,500

Rs. 1.5 Crore

7.50%

Rs. 93,750

Rs. 1.5 Crore

8.00%

Rs. 1,00,000

Rs. 1.5 Crore

8.50%

Rs. 1,06,250

Rs. 1.5 Crore

9.00%

Rs. 1,12,500

Rs. 1.5 Crore

9.50%

Rs. 1,18.750

Rs. 1.5 Crore

10.00%

Rs. 1,25,000


How much monthly interest can be generated from a Fixed Deposit of Rs. 1.5 Crore?

Fixed deposits (FDs) are secure investments with minimal risk, often the preferred choice for those emphasising capital safety. FDs offer predetermined and fixed interest rates for the entire tenure, providing a comparatively higher return.

Bajaj Finance enhances flexibility by offering periodic interest payouts through the non-cumulative FD plan. Investors can choose from monthly, quarterly, half-yearly, or annual interest payouts based on their liquidity needs.

Investing Rs. 1.5 Crore in an FD with Bajaj Finance for the long term can result in a relatively higher interest rate. Adjusting the investment duration from 12 to 60 months allows investors to align corporate FDs with their short-term or long-term financial goals.

The following table shows the FD interest rates offered by Bajaj Finance on an FD of Rs. 1.5 Crore for a tenure of 60 months

Payout frequency

FD rates (Customers below the age of 60)

FD rates (Senior Citizens)

Monthly

7.77% p.a.

8.00% p.a.

Quarterly

7.83% p.a.

8.05% p.a.

Half-yearly

7.89% p.a.

8.13% p.a.

Yearly

8.05% p.a.

8.30% p.a.

At Maturity

8.05% p.a.

8.30% p.a.


Following are the calculation of interest earnings for Rs. 1.5 Crore fixed deposit if the payout frequency is “monthly”, for customers below the age of 60 and senior citizens.

Customers below the age of 60 investing in an FD:

Deposit Amount

Tenure

Interest rate (Payout frequency: Monthly)

Total Interest

Maturity Amount

Rs. 1.5 Crore

12 months

7.16% p.a.

Rs. 10,74,000

Rs. 1,60,74,000

Rs. 1.5 Crore

24 months

7.30% p.a.

Rs. 21,90,000

Rs. 1,71,90,000

Rs. 1.5 Crore

36 months

7.77% p.a.

Rs. 34,96,500

Rs. 1,84,96,500

Rs. 1.5 Crore

44 months

8.05% p.a.

Rs. 44,27,500

Rs. 1,94,27,500

Rs. 1.5 Crore

60 months

7.77% p.a.

Rs. 58,27,500

Rs. 2,08,27,500


*All calculations are done using the Bajaj Finance FD Calculator

Senior citizens investing in an FD:

Deposit Amount

Tenure

Interest rate (Payout frequency: Monthly)

Total Interest

Maturity Amount

Rs. 1.5 Crore

12 months

7.39% p.a.

Rs. 11,08,500

Rs. 1,61,08,500

Rs. 1.5 Crore

24 months

7.53% p.a.

Rs. 22,59,000

Rs. 1,72,59,000

Rs. 1.5 Crore

36 months

8.00% p.a.

Rs. 36,00,000

Rs. 1,86,00,000

Rs. 1.5 Crore

44 months

8.28% p.a.

Rs. 45,54,000

Rs. 1,95,54,000

Rs. 1.5 Crore

60 months

8.00% p.a.

Rs. 60,00,000

Rs. 2,10,00,000


*All calculations are done using the Bajaj Finance FD Calculator

Senior citizens benefit from a higher interest rate on a Rs. 1.5 Crore fixed deposit compared to individuals below the age of 60, courtesy of an additional interest rate advantage offered by Bajaj Finance. Choosing a cumulative Bajaj Finance FD enables you to earn a fixed monthly interest on a Rs. 1.5 Crore deposit. This stands in contrast to the cumulative FD option, which provides a lump sum amount at the maturity date instead of periodic payouts such as monthly, quarterly, half-yearly, or yearly.

TDS on Rs. 1.5 Crore Fixed Deposit

Earning monthly interest on a Rs. 1.5 Crore Fixed Deposit may attract taxation, based on your income bracket. For Bank FDs, a 10% TDS rate applies if the interest income surpasses the threshold of Rs. 40,000. Senior citizens enjoy a higher threshold of limit of Rs. 50,000. Without a PAN card, the TDS on monthly interest for a Rs. 1.5 Crore bank FD increases to 20%. For NBFC FDs, TDS stands at Rs. 5,000, with a 10% rate on interest exceeding this limit.

Here is how to invest in a Bajaj Finance Fixed Deposit

  1. Click on the 'Open FD' option at the top of this page to access our online application form.
  2. Enter your 10-digit mobile number and verify the OTP sent to your phone.
  3. Specify the investment amount, select the investment tenure, and choose the payout frequency. Provide your PAN card details and date of birth.
  4. Complete your KYC: For existing customers, verify or edit details. New customers can complete KYC using Aadhaar Card.
  5. Review the displayed declaration carefully, agree to the terms and conditions, and enter your bank details. Proceed to payment.
  6. Finalise your investment using Net Banking/UPI or NEFT/RTGS.

Once your fixed deposit is booked, you will receive the Fixed Deposit Acknowledgement (FDA) via your registered email and as a link on your mobile number. An Electronic Fixed Deposit Receipt (e-FDR) will be sent to your email ID within 3 working days, subject to correct document submission.

Here is the eligibility criteria and documents required for opening a Rs. 1.5 Crore FD

Anyone can book our fixed deposit if they meet the basic criteria mentioned below.

  • Nationality: Resident Indians / Non-Resident Indians
  • Investor Type: Individuals, Senior Citizens, Minors, Sole Proprietorships, Partnership Firms, HUFs, Clubs, Associations, Societies, and Family Trusts
  • Documents Required: PAN and any KYC document: Aadhaar card/Passport/Driving license/Voter ID

*Documents can also be fetched from registered KYC.

You can update KYC Via CKYC, OKYC & Digi locker

Non-Resident Indians (NRIs), Persons of Indian Origin (PIO) and Overseas Citizens of India (OCI) can connect with our representative or write to us on wecare@bajajfinserv.in.

Calculate your expected investment returns with the help of our investment calculators

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Frequently asked questions

How can I invest in a monthly FD?

To invest in a monthly FD, choose a bank or NBFC offering this option, submit KYC documents and other require document. Specify the monthly payout when opening the FD account. Ensure you meet eligibility criteria and understand the terms, interest rates.

What are the documents required to apply for a Rs. 1.5 Crore FD?

To invest in a Rs. 1.5 Crore FD, you must provide the proof of income, proof of residence along with your KYC documents.

Are Rs. 1.5 Crore FDs taxable?

Yes, Rs. 1.5 Crore fixed deposits is taxable, and about 10% will be deducted as TDS on the interest. If your monthly income from FD is over Rs. 40,000, TDS will be applied on your FD interest.

Disclaimer

As regards deposit taking activity of Bajaj Finance Ltd (BFL), the viewers may refer to the advertisement in the Indian Express (Mumbai Edition) and Loksatta (Pune Edition) furnished in the application form for soliciting public deposits or refer https://www.bajajfinserv.in/fixed-deposit-archives
The company is having a valid Certificate of Registration dated March 5, 1998 issued by the Reserve Bank of India under section 45 IA of the Reserve Bank of India Act, 1934. However, the RBI does not accept any responsibility or guarantee about the present position as to the financial soundness of the company or for the correctness of any of the statements or representations made or opinions expressed by the company and for repayment of deposits/discharge of the liabilities by the company.

For the FD calculator the actual returns may vary slightly if the Fixed Deposit tenure includes a leap year.