Monthly Interest Rates for a Rs. 20 Lakh Fixed Deposit

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Rs. 20 Lakh FD
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3 mins
18-June-2025

Looking for stable income from your savings? Start with a Rs. 20 lakh Fixed Deposit

If you are a salaried professional, business owner, or retiree holding surplus funds, a Rs. 20 lakh FD can be a dependable source of fixed income. Unlike stocks or mutual funds, a Fixed Deposit protects your capital and offers assured monthly payouts—especially useful if you're looking to supplement your cash flow or plan for future goals.

With Bajaj Finance Fixed Deposits, you can earn interest up to 7.30% p.a., with flexible payout options (monthly, quarterly, etc.), check latest FD rates. Let’s break it down.

How much monthly interest can Rs. 20 lakh earn in an FD?

If you opt for a non-cumulative FD, your Rs. 20 lakh deposit can give you monthly interest depending on the rate offered. Here’s a quick table to help you understand the monthly payout across interest slabs:

FD Amount

Interest Rate (p.a.)

Interest per month from Rs. 20 lakh FD

Rs. 20 lakh

6.00%

Rs. 10,000

Rs. 20 lakh

6.50%

Rs. 10,833

Rs. 20 lakh

7.00%

Rs. 11,667

Rs. 20 lakh

7.50%

Rs. 12,500

Rs. 20 lakh

8.00%

Rs. 13,333

Rs. 20 lakh

8.50%

Rs. 14,167

Rs. 20 lakh

9.00%

Rs. 15,000

Rs. 20 lakh

9.50%

Rs. 15,833

Rs. 20 lakh

10.00%

Rs. 16,667

 

Lock in high interest rates with Bajaj Finance FDs

Bajaj Finance offers up to 7.30% p.a. interest, one of the highest in the market for a 60 months FD. Secure your future and enjoy predictable earnings. Check FD Rates Now.

Fixed Deposit

  1. Trusted by over 5 lakh customers
  2. Fixed Deposits worth more than Rs. 50,000 crore booked
  3. Rated CRISIL AAA/STABLE and [ICRA]AAA(STABLE)
  4. Up to 0.35% p.a. extra interest offered for senior citizens
  5. Flexible interest payout options available - Monthly, Quarterly, Half-yearly, Annually or at Maturity

By proceeding, you agree to our Terms and Conditions

FD interest earnings on Rs. 20 lakh – Citizens below 60 vs. Senior Citizens

Here’s what your earnings can look like based on your age and chosen tenure:

For individuals below 60 years:

Deposit Amount

Tenure

Interest rate

Interest earnings (Rs.)

Total earnings (Rs. )

Rs. 20 lakh

12 months

6.60% p.a.

1,28,200

21,28,200

Rs. 20 lakh

24 months

6.74% p.a.

2,69,600

22,69,600

Rs. 20 lakh

36 months

6.95% p.a.

4,04,606

24,04,606

Rs. 20 lakh

60 months

6.95% p.a.

6,74,000

26,74,000

 

For senior citizens (60+ years):

Deposit Amount

Tenure

Interest rate

Interest earnings (Rs.)

Total earnings (Rs. )

Rs. 20 lakh

12 months

6.95% p.a.

1,34,800

21,34,800

Rs. 20 lakh

24 months

7.07% p.a.

2,82,800

22,82,800

Rs. 20 lakh

36 months

7.30% p.a.

4,24,416

24,24,416

Rs. 20 lakh

60 months

7.30% p.a.

7,07,000

27,07,000

 

Bajaj Finance offers up to 0.35% extra interest for senior citizens, ensuring better growth on your Rs. 20 lakh investment. Open FD Account for Senior Citizens.

Want monthly income or a lump sum maturity? Choose your FD type

  • Non-Cumulative FD:
    Ideal if you want monthly income. Interest is credited at regular intervals.

  • Cumulative FD:
    Perfect for long-term goals. Interest is compounded and paid at maturity.

Use the FD Calculator to pick the ideal plan for your needs.

Understand the tax on your FD interest

Tax Deducted at Source (TDS) applies to FD interest earnings as per the Income Tax Act:

  • For non-senior citizens: 10% TDS if interest exceeds ₹50,000/year.

  • For senior citizens: TDS applies only if interest exceeds ₹1 lakh/year.

  • No PAN? TDS jumps to 20%.

To avoid excess deduction, submit Form 15G/15H if eligible.

Fixed deposit variants

Highest Credit Ratings | Trusted with over 1.4 million Deposits | Assured Returns on FD
Recommended

Fixed Deposit - 60 Months

INTEREST RATES UP TO
7.30% p.a.
Invest Online

Fixed Deposit - Senior Citizen

INTEREST RATES UP TO
7.30% p.a.
Invest Online

Fixed Deposit - Age below 60

INTEREST RATES UP TO
6.95% p.a.
Open FD

Fixed Deposit - Minor

INTEREST RATES UP TO
6.95% p.a.
Open FD

Fixed Deposit - HUF

INTEREST RATES UP TO
6.95% p.a.
Open FD

Fixed Deposit - Sole Proprietor

INTEREST RATES UP TO
6.95% p.a.
Open FD

What documents are needed for a Rs. 20 lakh FD?

Opening an FD is simple. Just keep these ready:

  • PAN Card

  • Any KYC document (Aadhaar, Passport, Voter ID, or Driver’s License)

Digital onboarding is seamless with Bajaj Finance online FD, helping you invest from anywhere in minutes.

No branch visit needed—just complete KYC digitally and deposit your funds. Open a Bajaj Finance FD Online and start earning up to 7.30% p.a. returns.

Reinvestment or Cumulative FD

Reinvestment or Cumulative Fixed Deposit (FD) is a type of fixed deposit where the interest earned on the principal amount is not paid out to the investor regularly. Instead, the interest is added to the principal amount. The interest is then reinvested with the principal amount.

In simple terms, with a cumulative FD, the interest compounds over time, and the investor receives the entire maturity amount (principal + accumulated interest) at the end of the FD tenure.

Conclusion

A Rs. 20 lakh fixed deposit can be a powerful way to earn guaranteed monthly income or grow your savings over time. Whether you’re aiming for regular payouts or long-term wealth creation, FDs offer unmatched security and predictability.

By choosing a Bajaj Finance FD, you get higher-than-average returns, flexible payout options, and a quick, paperless process. Use the FD Calculator, compare tenures, and invest wisely today.

Check monthly interest rates on your fixed deposits

Monthly Interest for a Rs. 15000 FD

Monthly Interest for a Rs. 10 Lakh FD

Monthly Interest for a Rs. 6 Lakh FD

Monthly Interest for a Rs. 1.5 Crore FD

Monthly Interest for a Rs. 80 Lakh FD

Monthly Interest for a Rs. 35 Lakh FD

Monthly Interest for a Rs. 4 Lakh FD

Monthly Interest for a Rs. 1 Crore FD

Monthly Interest for a Rs. 40 Lakh FD

Monthly Interest for a Rs. 2 Crore FD

Monthly Interest for a Rs. 3 Crore FD

Monthly Interest for a Rs. 70 Lakh FD

Frequently Asked Questions

Is there a minimum and maximum cap on Rs. 20 Lakh FD interest per month?

There's typically no minimum cap on FD interest, and the maximum cap depends on the interest rate offered.

Is the monthly interest for a Rs. 20 Lakh fixed deposit taxable?

Yes, the interest earned on a Rs. 20 Lakh fixed deposit is generally taxable as per the applicable income tax laws.

What are the documents required for a Rs. 20 Lakhs fixed deposit?

Commonly required documents include KYC documents and PAN card.

What are the eligibility criteria for a Rs. 20 Lakh fixed deposit?

Generally, anyone with the required documents and funds can open a Rs. 20 Lakh fixed deposit, subject to bank policies.

How to calculate FD interest on Rs. 20 Lakhs?

You can calculate FD interest using the formula: Interest = Principal amount (Rs. 20 Lakhs) × Rate of interest × Time period / 100.

How do I start a Bajaj Finance FD online?

Simply visit the official website, complete your KYC digitally, and choose your preferred tenure and payout option. Start an FD now and start earning up to 7.30% p.a. returns.

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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.