Monthly Interest Rates for Rs. 8 lakh Fixed Deposit

Learn how much you can earn with Rs. 8 lakh fixed deposit.
Rs. 8 lakh FD
4 mins
18 January 2024

An important factor to consider when investing in fixed deposits is the interest rates offered. Monthly interest rates for Rs. 8 lakh fixed deposit can vary across different financial institutions. In this article, we will explore how much interest you can earn on Rs. 8 lakh fixed deposit and the factors investors should consider before making any investment decisions.

What is Fixed Deposit (FD)?

A fixed deposit is a financial instrument wherein an individual invests a lump sum amount with a financial institution for a predetermined period at a fixed interest rate. FD provides a secure and low-risk investment option, allowing investors to earn predictable returns.

Benefits of Investing in FD

  1. Safety and Stability
    Fixed deposits are considered a secure investment option as they are not linked to market fluctuations and have fixed returns. This makes them an ideal choice for risk-averse investors.
  2. Liquidity
    FDs offer a high degree of liquidity, which can be beneficial for investors. FDs can be easily withdrawn as per your requirements. But there are some penalties, check with financial institution before investing.
  3. Easy to Invest
    Investing in FDs is a simple and hassle-free process. One can open an FD account with minimum documentation, and the entire process can be completed within a few minutes. Most financial institutions like Bajaj Finance offer online facilities to open an FD account, you can use Bajaj Finserv website or app to do that.
    Bajaj Finance recently launched a new FD called ‘Bajaj Finance Digital FD’ for the tenure of 42 months. They offer one of the highest FD rates of up to 8.85% p.a. This FD is exclusively available on Bajaj Finserv website and app.
  4. Tenure Options
    FDs come with a wide range of tenure options, ranging from 7 days to 10 years. This means that investors can choose the investment tenure that best suits their financial goals, requirements, and risk tolerance.
  5. Diversification
    FDs can be a part of your overall investment portfolio to balance out the riskier assets like equities, mutual funds, etc. Diversifying your investments across different asset classes helps to reduce the overall risk of your portfolio and brings stability to your overall investment strategy.

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.

FD monthly interest pay-out for deposits of Rs. 8 lakh

The monthly interest pay-out for Rs. 8 lakh fixed deposit is influenced by factors such as the interest rate, tenure, and the type of FD. Here's an illustrative breakdown:


Interest rate (p.a.)

Interest per month

Rs. 8 lakh


Rs. 4,000.00

Rs. 8 lakh


Rs. 4,666.67

Rs. 8 lakh


Rs. 5,333.33

Rs. 8 lakh


Rs. 6,000.00

Rs. 8 lakh


Rs. 6,666.67

Things to consider before investing in a FD

Before investing in FD, there are several things that investors should consider ensuring they make an informed decision.

  1. Interest rate
    The first thing investors should consider is the interest rate offered by the financial institution offering the FD. Interest rates can vary between different financial institutions. Therefore, it is important to compare the interest rates before making any decision.
  2. Tenure
    FDs are typically available in a range of tenures ranging from 7 days to 10 years. The tenure of the FD can affect the rate of interest. Longer tenures typically offer higher interest rates. Therefore, investors should select a tenure that suits their financial goals, requirements, and risk tolerance.
  3. Premature Withdrawal
    Premature withdrawal of FDs can result in penalty charges, which can negatively impact the returns on the investment. Therefore, it is important to understand the premature withdrawal process and penalties associated with it before making an investment decision. Some financial institutions like Bajaj Finance offers loan against FD, which can be useful in mitigating the impact of penalties.
  4. Taxes
    Investors should also consider the tax implications before investing in FDs. In India, interest earned on FD is taxable. Therefore, investors should be aware of the tax implications and plan their investments accordingly.
  5. Inflation
    Inflation can have a significant impact on the returns earned on an investment. Even though FDs are considered low-risk investments, the inflation rate may decrease the real value of the returns earned. Therefore, investors should account for inflation while calculating the returns they expect to earn.

How is interest earned on fixed deposit taxed?

Interest earned on fixed deposit in India is entirely subject to taxation. It comes under 'income from other sources' in your income tax returns. Banks and NBFC’s charge TDS (Tax Deducted at Source) during the crediting of interest to your account. TDS is applicable if the interest earned is more than Rs. 40,000 for individuals, excluding senior citizens (for senior citizens, the threshold is Rs. 50,000).


Investing in fixed deposits is a safe and secure investment option for individuals looking for low-risk investments that offer a fixed rate of return. Monthly interest rates on Rs. 8 lakh fixed deposit can vary from different financial institutions, making it crucial for investors to compare rates and choose the best option. It is also important to consider other factors such as tenure, taxes, inflation. By taking these factors into account, investors can make an informed decision and select a fixed deposit scheme that best suits their financial goals and requirements.


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.