Monthly Interest Rates for Rs. 70,000 FD

Check monthly interest rates for a Rs. 70,000 FD to maximise your earnings with reliable and secure investment returns.

Published Sep 25, 2024 4 Min Read

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Up to 8.85% p.a.

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Rs. 15,000

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Flexible tenure options from 12-60 months

Senior citizens can earn up to 0.40% p.a. extra

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Investing Rs. 70,000 in a fixed deposit (FD) provides a reliable way to grow your savings with assured returns. Knowing the monthly interest for a Rs. 70,000 FD and understanding the current FD interest rates are essential steps in making an informed and effective investment choice.

Monthly Interest for Rs. 70,000 fixed deposit

The monthly interest earned on a Rs. 70,000 fixed deposit depends on the interest rate offered by the financial institution. Typically, these rates range between 5% and 8 % annually. Opting for a non-cumulative FD allows you to receive monthly interest payouts, providing a steady income stream.

FD monthly interest pay-out for deposits of Rs. 70,000

When you invest Rs. 70,000 in a fixed deposit (FD), the monthly interest payout depends on the interest rate offered by the financial institution. Below is a table illustrating the approximate monthly interest for a Rs. 70,000 FD at different interest rates.

Interest rate (per annum)	Monthly interest (approx.)
5%	Rs. 292
6%	Rs. 350
7%	Rs. 408

What monthly interest can be earned on a Rs. 70,000 fixed deposit?

Following are the calculations of interest earnings if your invest Rs. 70,000 in Bajaj Finance Fixed Deposit

Citizens aged below 60

Deposit Amount	Tenure	Interest rate	Interest earnings
Rs. 70,000	7.40% p.a.	5.00% p.a.	Rs. 5,012
Rs. 70,000	7.53% p.a.	5.50% p.a.	Rs. 10,542
Rs. 70,000	8.10% p.a.	6.00% p.a.	Rs. 16,401
Rs. 70,000	8.25% p.a.	6.50% p.a.	Rs. 20,405
Rs. 70,000	8.10% p.a.	7.00% p.a.	Rs. 27,335

Senior citizens:

Deposit Amount	Tenure	Interest rate	Interest earnings
Rs. 70,000	12 months	7.65% p.a.	Rs. 5,173
Rs. 70,000	24 months	7.91% p.a.	Rs. 11,074
Rs. 70,000	36 months	8.35% p.a.	Rs. 16,905
Rs. 70,000	48 months	8.50% p.a.	Rs. 21,021
Rs. 70,000	60 months	8.35% p.a.	Rs. 28,175

To get precise calculations, you can use the FD return calculator.

Documents required for booking Rs. 70,000 FD

To book an FD, you need:

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

Reinvestment or cumulative FD

In a reinvestment or cumulative FD, the interest you earn is added to the principal and then reinvested. This compounding effect boosts your returns at maturity, making it a great choice if you don't need regular interest payouts and want to maximise your investment over time.

Conclusion

Investing in a Rs. 70,000 fixed deposit is a secure way to grow your savings, particularly with the enhanced rates offered to senior citizens. Whether you opt for monthly interest payouts or a cumulative FD, this investment choice provides both stability and growth potential, aligning with your financial goals.

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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.