Monthly Interest Rates for a Rs. 30 Lakh Fixed Deposit

A fixed deposit is a popular investment choice for individuals who want to earn a stable return on their savings. Fixed Deposit are generally considered as low risk, and it is ideal for individuals who want to park their money for a specific period of time.

When it comes to fixed deposits, the interest rate is a crucial factor that determines the return on investment. The interest rate offered by financial institution for fixed deposits varies depending on the duration of the deposit and the amount invested. For those who are planning to invest Rs. 30 lakh in a fixed deposit, it is essential to know the monthly interest rates.

Evaluating the monthly interest rate for a Rs. 30 lakh Fixed Deposit (FD) is essential for investors aiming to maximise their returns. Fixed Deposits are known for their stability and predictable returns. By understanding the interest rates applicable to a Rs. 30 lakh FD, investors can effectively plan their finances and achieve their income goals with minimal risk.

Monthly interest rates for Rs. 30 lakh fixed deposit

Monthly interest rates for fixed deposits are calculated by dividing the annual interest rate by 12 months.

Monthly interest earned on a Ffixed Ddeposit can be calculated using the formula:

The interest rate offered by banks for fixed deposits generally ranges between 6% to 10% per annum. Therefore, the monthly interest rate for a Rs. 30 lakh fixed deposit with an interest rate of 8 % 8% per annum would be Rs. 20,000.

FD monthly interest rate payout for a deposit of Rs. 30 lakh

To provide an idea on the estimate of the monthly income generated, the monthly interest for a Rs. 30 lakh FD with rates between 2.50% and 8.50% per annum is detailed below.

How much monthly interest can be earned on a Rs. 30 lakh FD?

Fixed Deposits (FDs) are known for their safety and low risk, often being the preferred choice for capital protection. Corporate FDs offer fixed interest rates that are generally higher and remain constant throughout the tenure. For instance, investing Rs. 30 lakh with Bajaj Finance for five years can yield substantial returns. You can select a tenure of 12 to 60 months, catering to both short-term and long-term financial needs. Bajaj Finance also provides the option to receive periodic interest payouts through their non-cumulative FD plan, allowing choices of monthly, quarterly, half-yearly, or annual payments.

Following are the calculations of interest earnings for Rs. 30 lakh fixed deposit for senior citizens and citizens aged below 60

Citizens aged below 60 investing in an FD:

Senior citizens investing in an FD:

Effortlessly Calculate FD returns with our user-friendly tool and plan your financial future with confidence and clarity.

Documents required for opening a Rs. 30 lakh FD

To book an FD, you need:

• PAN card
• Any KYC documents: Aadhaar card/passport/driving licence/voter ID

What is a reinvestment or cumulative FD?

A reinvestment or cumulative Fixed Deposit (FD) involves accumulating the interest earned by adding it to the principal rather than receiving it in periodic payments. This compounding of interest results in higher returns at the end of the deposit term, enhancing the overall maturity value.