Monthly Interest Rates for a Rs. 20 Lakh Fixed Deposit

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3 mins
5 April 2024

You may have a sizable corpus as a working professional or business owner. You could gain from compounded returns by putting a quantity like Rs. 20 lakhs in a secure investment tool.

A Fixed Deposit (FD) is one such savings product that allows you to receive reasonable interest returns on your idle surplus. You could take advantage of the Bajaj Finance Fixed Deposit which offers higher interest rates up to 8.85% p.a.

Monthly Interest for Rs. 20 lakh FD

Investors looking for fixed monthly interest can include non-cumulative fixed deposits in their investment portfolios. You can cushion your high amounts in FDs against market risks and have a source of regular income. Here, you can compare the interest rate on Rs. 20 lakh FD and other mutual funds, stocks, and Public Provident Fund investments.

FD Monthly Interest Pay-out for Deposits of Rs. 20 lakh

Here is the table showing the interest amount you will earn depending on the interest rates you get on investing Rs. 20 lakh in a FD.

FD Amount

Interest Rate (p.a.)

Interest per month from Rs. 20 lakh FD

Rs. 20 lakh


Rs. 10,000

Rs. 20 lakh


Rs. 10,833

Rs. 20 lakh


Rs. 11,667

Rs. 20 lakh


Rs. 12,500

Rs. 20 lakh


Rs. 13,333

Rs. 20 lakh


Rs. 14,167

Rs. 20 lakh


Rs. 15,000

Rs. 20 lakh


Rs. 15,833

Rs. 20 lakh


Rs. 16,667

Pro tip

Enjoy higher interest rate with Bajaj Finance Digital FD. Unlock returns of up to 8.85% p.a. by investing for 42 months via our website and app.

What monthly interest can be earned on a Rs. 20 lakh fixed deposit?

Fixed deposits (FDs) are considered safe investments with minimal risk. When one thinks of capital safety, the first investment that comes to mind is an FD. With corporate FDs, the interest rate is predetermined, fixed for the entire tenor, and comparatively high. If you invest Rs. 20 lakh in a FD for five years with Bajaj Finance, your applicable interest can be relatively higher. You can invest for 12-60 months to make the corporate FD more suitable to meet your short-term or long-term financial objectives.

With Bajaj Finance, investors can opt for periodic interest payouts as per their liquidity requirements by depositing savings in the non-cumulative FD plan. This plan gives investors the option of choosing between monthly, quarterly, half-yearly or annual interest payouts.

Following are the calculations of interest earnings for Rs. 20 lakhs fixed deposit for senior citizens and citizens aged below 60

Citizens aged below 60 investing in an FD:

Deposit Amount


Interest rate

Interest earnings

Total earnings

Rs. 20 lakh

12 months

7.40% p.a.

Rs. 1,43,200

Rs. 21,43,200

Rs. 20 lakh

24 months

7.53% p.a.

Rs. 3,01,200

Rs. 23,01,200

Rs. 20 lakh

36 months

8.10% p.a.

Rs. 4,68,600

Rs. 24,68,600

Rs. 20 lakh

44 months

8.25% p.a.

Rs. 5,83,000

Rs. 25,83,000

Rs. 20 lakh

60 months

8.10% p.a.

Rs. 7,81,000

Rs. 27,81,000

Senior citizens investing in an FD:

Deposit Amount


Interest rate

Interest earnings

Total earnings

Rs. 20 lakh

12 months

7.65% p.a.

Rs. 1,47,800

Rs. 21,47,800

Rs. 20 lakh

24 months

7.91% p.a.

Rs. 3,16,400

Rs. 23,16,400

Rs. 20 lakh

36 months

8.35% p.a.

Rs. 4,83,000

Rs. 24,83,000

Rs. 20 lakh

44 months

8.50% p.a.

Rs. 6,00,600

Rs. 26,00,600

Rs. 20 lakh

60 months

8.35% p.a.

Rs. 8,05,000

Rs. 28,05,000

  • Rs. 20 lakh fixed deposit interest for senior citizens is higher than citizens aged below 60 as Bajaj Finance offers a benefit of an additional interest rate to senior citizens.
  • To earn a fixed monthly interest on FD of Rs. 20 lakh, you must make a non-cumulative FD. Otherwise, you can invest in a cumulative Bajaj Finance FD to get a lump sum amount at the maturity date.

Thus, you can earn attractive monthly interest on your Rs. 20 lakh at a rate as high as up to 8.85% p.a., unaffected by market fluctuations once you deposit your funds in Bajaj Finance Fixed Deposit.

Documents Required for Opening Rs. 20 lakh FD

  • PAN Card
  • Any KYC document: Aadhar card/Passport/Driving License/Voter ID

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.


Fixed Deposit is a safe and secure investment option that provides a fixed rate of return. A Rs. 20 lakh fixed deposit can prove to be a valuable source of income for investors looking for a steady income stream. Before investing in a fixed deposit, calculate the interest rate offered by various financial institution.

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

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Frequently Asked Questions

What is the Digital FD offered by Bajaj Finance?

Bajaj Finance has launched a new FD variant called "Bajaj Finance Digital FD" for a period of 42 months. Bajaj Finance is providing one of the highest interest rates of up to 8.85% p.a. for senior citizens and for the customers below the age of 60 they are providing up to 8.60% p.a. The Digital FD can be opened and managed only through the Bajaj Finserv website or app.

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.

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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
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.