Monthly Interest on Rs. 10 Lakh Fixed Deposit

Know all about the monthly interest on your Rs. 10 Lakh investment in Bajaj Finance FD.
4 mins
20 March 2023

Bank interest rates have been on the slide, and stock markets are highly volatile, resulting from the effects of the massive changes at the economic level. This is leading to anxious investors, especially those dependent on their investments. Here, corporate fixed deposits (FDs) act as a smart investment option with higher FD rates.

With Bajaj Finance Fixed Deposit investors can open an FD of Rs. 10 lakh for a specified period at predetermined interest rates that do not fluctuate due to economic factors affecting other investments. Once an investor has invested a lump sum in a fixed deposit at the prevailing 10 lakh FD interest rate, it remains the same until maturity, without fluctuation during the entire tenure of fixed. Therefore, FDs ensure investors of attractive returns and the 10 lakh FD continue to grow over time without any interest risk.

Monthly Interest for a ₹10 Lakh Fixed Deposit

Here is the monthly interest that you can anticipate if you invest in a Rs. 10 lakh fixed deposit with a 1-year term and interest rates between 3% and 8.5%.

FD Amount

Interest Rate Per Year

Interest Earned Monthly



(in Rs.)

Rs. 10 Lakhs


Rs. 2,500.0

Rs. 10 Lakhs


Rs. 2,916.6

Rs. 10 Lakhs


Rs. 3,333.3

Rs. 10 Lakhs


Rs. 3,750.0

Rs. 10 Lakhs


Rs. 4,166.6

Rs. 10 Lakhs


Rs. 4,583.3

Rs. 10 Lakhs


Rs. 5,000.0

Rs. 10 Lakhs


Rs. 5,416.6

Rs. 10 Lakhs


Rs. 5,833.3

Rs. 10 Lakhs


Rs. 6,250.0

Rs. 10 Lakhs


Rs. 6,666.6

Rs. 10 Lakhs


Rs. 7,083.3

Here is a quick look at the features and benefits offered on fixed deposits by Bajaj Finance.

Interest rate

Up to 8.60% p.a.

Minimum tenure

12 months

Maximum tenure

60 months

Deposit amount

Minimum deposit of Rs. 15,000

Application process

End-to-end online process

Online payment options

Netbanking and UPI

How much monthly interest you earn on 10 lakh fd?

Bajaj Finance offers two kinds of fixed deposit, basis the payout frequency:

a. Cumulative fixed deposit: The investment type in which both the interest and the principal amount is paid at maturity (completion of the investment tenure) is called cumulative fixed deposit.

For example, for an investment amount of Rs. 10,00,000 mentioned below are the interest and maturity amount for a customer below 60 years of age for a cumulative fixed deposit.


Customer below 60 years of age

Senior citizens


Interest rate

Interest amount

Interest rate

Interest amount

12 months


Rs. 74,000


Rs. 76,500

24 months


Rs. 1,56,700


Rs. 1,62,084

33 months


Rs. 2,27,856


Rs. 2,35,706

44 months


Rs. 3,41,856


Rs. 3,53,244

b. Non-cumulative fixed deposit:
The investment type in which the principal amount is maturity, however, the interest is paid on a monthly, quarterly, half-yearly, and yearly basis. During investment you have to choose the interest payout frequency for non-cumulative fixed deposit.

For example, for an investment amount of Rs. 10,00,000, made for a tenure of 44 months, mentioned below are the interest and maturity amount for a non-cumulative fixed deposit.


Customer below 60 years of age

Senior citizens

Payout frequency

Interest rate

Interest amount

Interest rate

Interest amount



Rs. 2,95,167


Rs. 3,03,600



Rs. 2,97,000


Rs. 3,05,800



Rs. 2,99,933


Rs. 3,08,733



Rs. 3,06,167


Rs. 3,15,333

Benefits of Investing Rs.10 Lakh in Bajaj Finance FD

An investor can avail the following advantages by investing in Bajaj Finance FD:

  • Higher interest rate as compared to banks
    The foremost benefit is a higher interest rate as compared to banks that go up to 8.60% p.a. It is an attractive feature as you can earn higher interest on Rs. 10 lakh FD without losing on the safety of funds.
  • Secured returns
    Bajaj Finance Fixed Deposit offers you attractive returns at a predetermined interest rate. Once you have created your fixed deposits, the interest rate applicable to your deposit will not be changed until maturity. Bajaj Finance updates its interest rate and provides an FD calculator on its official website so that an investor can know their FD return quickly, even before investing their funds.
  • Flexibility
    An investor can invest in FDs as part of the portfolio and choose from the tenure for up to 60 months to multiply the invested funds to achieve the financial goal, whether its wealth accumulation or investing spare funds for a short-term period. Bajaj Finance Fixed Deposit tenure ranges between 12-60 months. You can make deposits with different maturities to ladder your investment.

  • Convenient online Investment
    Bajaj Finance allows investors to create fixed deposits from the comfort of their homes. You can invest a significant amount like Rs. 10 lakh FD online.

Thus, fixed deposits can add value to your investment portfolio and provide maximum returns with the right choice of fixed deposit, tenure, and issuer.

TDS on a ₹10 Lakhs FD

TDS will apply if you receive an additional income from a Rs. 10 lakh FD. You must be aware of the following important information regarding tax deductions for FD interest:

  • If your total annual returns are greater than Rs. 40,000 (or Rs. 50,000 if you are a senior person), TDS will be deducted from your FD interest.
  • Your interest income will be subject to a 10% tax deduction (or a 20% deduction if your PAN has not been submitted).

Documents Required for Opening Rs. 10 lakh FD

Here are some documents required when booking a Rs.10 Lakh fixed deposit.

  • Proof of Identity: PAN card, Driver’s licence, Passport, Ration card, etc.
  • Proof of Address: Utility bills including phone bill, electricity bill, bank statement, etc.
  • Proof of Signature: PAN card, Driver’s licence, Passport, etc.
  • If you are a senior citizen, you need to submit Form 15H to avoid tax deductions

Here is why FDs are a preferred investment option:

Currently, where bank deposits offer interest rates of around 7% p.a., Bajaj Finance Fixed Deposits provide an attractive interest rate of up to 8.60% p.a. The deposits with Bajaj Finance have been rated CRISIL AAA/STABLE and [ICRA]AAA(Stable), which indicates the highest level of safety and lowest investment risk on these deposits. Such stable ratings of Bajaj Finance FDs are another reason than interest rates to invest in them.

Frequently asked questions

Are ₹10 Lakh FDs taxable?

Yes, the returns you earn every year from a Rs. 10 Lakh FD is taxable as per the income tax slab rate applicable to you.

Can NRIs open a ₹10 Lakh FD?

Yes, NRIs can opt for a Rs. 10 Lakh FD with a financial body offering this facility to non-resident Indians.

Is there a minimum and maximum cap of interest rate for a fixed deposit of ₹10 Lakhs?

No, there is no official cap on the Rs. 10 Lakh fixed deposit interest rate. The rates vary from one bank or NBFC to another and are subject to change from time to time.

What are the eligibility criteria for a ₹10 Lakh fixed deposit?

For investing in a Rs. 10 Lakh fixed deposit, you must be at least 18 years old, and you need to have a PAN card. If you are a member of a Hindu Undivided Family (HUF), you must have a separate PAN card issued in your name. You can open a Rs. 10 Lakh fixed deposit even if you are a minor, but you need a guardian.

How to calculate FD interest on ₹10 Lakhs?

While manual calculation can be complex, you can get accurate results instantly with the Bajaj Finance FD calculator.

First, select your customer type and the deposit type. Then, enter the FD amount and maturity period, and the calculator shows the interest payout and your total maturity amount depending on the applicable FD rate.

Show More Show Less