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In summary
A non-cumulative fixed deposit can provide regular monthly income while keeping your principal invested until maturity.
- Monthly payouts provide a regular income.
- Longer tenures may offer higher rates.
- Senior citizens receive additional interest benefits.
- Monthly rates differ from cumulative rates.
- TDS may reduce monthly interest payments.
- Your principal is returned at maturity.
Check the applicable monthly payout rate before estimating your income from a Rs. 30 lakh fixed deposit.
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Calculating monthly interest on a Rs. 30 lakh fixed deposit
Monthly interest depends on the principal amount and the applicable annualised monthly payout rate.
You can estimate the monthly interest using this formula:
Monthly interest = Principal amount × Annualised monthly payout rate ÷ 12
Example:
For example, consider a customer below 60 investing Rs. 30 lakh at a 7.16% p.a. monthly payout rate.
Monthly interest = Rs. 30,00,000 × 7.16% ÷ 12
Monthly interest = Rs. 17,900
Therefore, the investor can receive approximately Rs. 17,900 monthly before TDS.Use the monthly payout rate for this calculation. The cumulative rate applies when interest is received at maturity.
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FD monthly interest rate payout for a deposit of Rs. 30 lakh
The following estimates use Bajaj Finance Fixed Deposit monthly payout rates effective fromw.e.f 07 October, 2026
Citizens aged below 60 investing in an FD Deposit amount Tenure Interest rate Interest earnings (Rs.) Total earnings (Rs.) Rs. 30 lakh 12 Months 6.60% p.a. 1,98,000 31,98,000 Rs. 30 lakh 24 Months 6.79% p.a. 4,07,531 34,07,531 Rs. 30 lakh 36 Months 6.79% p.a. 6,74,100 36,74,100 Rs. 30 lakh 60 Months 6.79% p.a. 11,23,500 41,23,500 These amounts are estimates before TDS. Check the latest Bajaj Finance Fixed Deposit interest rates before investing. The 30 lakh FD monthly interest ranges from Rs. 16,500 to Rs. 18,000 for customers below age 60. Senior citizens can receive between Rs. 18,500 and Rs. 20,700 monthly, depending on the selected tenure.
How much monthly interest can be earned on a Rs. 30 lakh FD?
The monthly income depends on whether you select a cumulative or non-cumulative fixed deposit. A cumulative deposit reinvests the interest throughout the tenure. You receive the principal and accumulated interest together at maturity. A non-cumulative fixed deposit pays interest monthly, quarterly, half-yearly, or annually. Choose the monthly payout option when you need regular income for household expenses or other planned payments.
Bajaj Finance Fixed Deposit offers cumulative rates up to 7.75% p.a. for customers below 60. Senior citizens can earn cumulative rates up to 8.15% p.a. Monthly payout rates are slightly lower than corresponding cumulative rates. The 30 lakh FD interest per month is highest within the 31-to-60-month range under the current rate schedule. Bajaj Finance Fixed Deposit carries CRISIL AAA/STABLE and [ICRA]AAA(Stable) ratings. Its returns remain unaffected by market movements. A corporate fixed deposit carries issuer-related risk. Credit ratings help investors assess the issuer’s financial stability.
Following are the calculations of interest earnings for Rs. 30 lakh fixed deposit for senior citizens and citizens aged below 60
Avoid these mistakes while booking FD
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The following calculations use non-cumulative monthly payout rates. They assume the applicable rate remains fixed throughout the selected tenure.
Customer below age 60 investing in a fixed deposit
Citizens aged below 60 investing in an FD Deposit amount Tenure Interest rate Interest earnings (Rs.) Total earnings (Rs.) Rs. 30 lakh 12 Months 6.60% p.a. 1,98,000 31,98,000 Rs. 30 lakh 24 Months 6.79% p.a. 4,07,531 34,07,531 Rs. 30 lakh 36 Months 6.79% p.a. 6,74,100 36,74,100 Rs. 30 lakh 60 Months 6.79% p.a. 11,23,500 41,23,500 Senior citizen investing in a fixed deposit
Senior citizens investing in an FD Deposit amount Tenure Interest rate Interest earnings (Rs.) Total earnings (Rs.) Rs. 30 lakh 12 Months 6.97% p.a. 2,09,100 32,09,100 Rs. 30 lakh 24 Months 7.16% p.a. 4,29,738 34,29,738 Rs. 30 lakh 36 Months 7.86% p.a. 7,07,400 37,07,400 Rs. 30 lakh 60 Months 7.86% p.a. 11,79,000 41,79,000 Interest is paid periodically under the monthly option. The principal amount of Rs. 30 lakh is returned separately at maturity. The “principal plus interest” figures combine all monthly payouts with the returned principal. They are not single maturity payments. These estimates exclude TDS. Actual payouts may vary slightly because of payment dates, completed days, and leap years.
Effortlessly calculate returns with our FD Interest Calculator tool and plan your financial future with confidence and clarity.
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Documents required for opening a Rs. 30 lakh FD
Resident Indian individuals can book a Bajaj Finance Fixed Deposit after meeting the applicable eligibility and KYC requirements.
You will need these documents:
- PAN: Provide your valid Permanent Account Number.
- Identity And Address Proof: Submit Aadhaar, passport, driving licence, or voter ID.
- Registered KYC: Bajaj Finance may fetch documents from registered KYC records when available.
Existing customers can confirm or update their available details during the online application process.
Conclusion
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A Rs. 30 lakh fixed deposit can generate predictable monthly income through a non-cumulative payout option. Under current Bajaj Finance Fixed Deposit rates, monthly income ranges from Rs. 16,025 to Rs. 18,725 before TDS. Customers below 60 can receive up to approximately Rs. 17,900 monthly. Senior citizens can receive up to approximately Rs. 18,725. Your actual income depends on the tenure, investor category, and rate available when you book the deposit.
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Fixed Deposit variants
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Senior citizen
Starting with just Rs. 15,000
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7.75% p.a.
Age below 60 years
Starting with just Rs. 15,000
Get ROI up to
7.75% p.a.
Minor
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Frequently Asked Questions
Overview
What is the typical interest rate range for fixed deposits?
Fixed deposit rates vary across institutions, tenures, and payout options. Bajaj Finance currently offers monthly rates between 6.60% and 7.49% p.a. for customers below 60. Senior citizen monthly rates range from 6.97% to 7.86% p.a.
Why choose a fixed deposit for a substantial sum like Rs. 30 lakh?
A fixed deposit provides assured returns and flexible payout choices. You can select monthly income or receive accumulated interest at maturity. Before investing Rs. 30 lakh, review the issuer’s credit ratings, tenure, taxation, and premature withdrawal rules.
How much interest on Rs. 30 lakh FD per month?
Bajaj Finance Fixed Deposit can provide between Rs. 16,500 and Rs. 18,000 monthly for customers below 60. Senior citizens can receive between Rs. 18,550 and Rs. 19,725 monthly. These estimates are before TDS.
How much tax on Rs. 30 lakh FD?
Fixed deposit interest is added to your taxable income and taxed at your applicable slab rate. Bajaj Finance deducts TDS at 10% when NBFC interest exceeds Rs. 10,000 and PAN is available. Without PAN, TDS generally applies at 20%.
How to invest 30 lakhs for monthly income?
Choose a non-cumulative Bajaj Finance Fixed Deposit with monthly interest payouts. Select a tenure between 12 and 60 months. Compare the applicable rate and estimated post-TDS income before completing the online investment process.
What if I deposit 30 lakhs in my account?
Depositing Rs. 30 lakh into a Fixed Deposit can provide assured returns based on the selected tenure and payout frequency. Monthly payouts vary according to the applicable interest rate and investor category. The interest earned is taxable, and TDS may apply under prevailing tax rules.
Disclaimer
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