Monthly interest rates for a Rs. 10 lakh fixed deposit

Get complete details on Rs. 10 lakh FD monthly interest with Bajaj Finance. Know current FD rates, tenure options, and how to earn guaranteed monthly income.
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4 mins
01-May-2026

If you plan to invest a substantial amount like Rs.10 lakh in a fixed deposit, it is important to compare interest rates across issuers and select a suitable tenure. Your total interest earnings mainly depend on the tenure chosen and the applicable FD rate.

For example, a Rs.10 lakh FD at 7.25% p.a. for a tenure of 4 years may generate a monthly interest payout of about Rs.6,041, with total interest earnings of nearly Rs. 2.90 lakh over the tenure.

Similarly, choosing a 2 year tenure at the same interest rate may still provide a monthly interest payout of around Rs.6,041, but the overall interest earned will be lower due to the shorter investment period, which in this case would be about Rs. 1.45 lakh.
 

Bajaj Finance offers competitive FD rates of up to 7.75% p.a., making it an excellent option for investors. 

Why choose a fixed deposit for monthly returns?

Fixed Deposits have long been a trusted option for Indian investors looking for safety, predictability, and assured growth. Here’s why a Rs. 10 lakh FD could be the ideal fit:

  • Guaranteed Returns: Your money grows at a fixed interest rate—immune to market volatility.
  • Capital Safety: Bajaj Finance FD comes with CRISIL AAA/STABLE and [ICRA]AAA(STABLE) ratings.
  • Flexible Tenures: Choose between 12 to 60 months to match your financial goals.
  • Cumulative and Non-Cumulative Options: Opt for monthly interest or let it grow for a lump sum maturity.

Earn more from your savings!

With regular interest payout options like monthly, quarterly, half-yearly or yearly and interest as high as up to 7.75% p.a. on a Rs. 10 lakh deposit, Bajaj Finance FD can be an ideal option for you. Open FD.

Fixed Deposit

  1. Trusted by over 5 lakh customers
  2. Fixed Deposits worth more than Rs. 50,000 crore booked
  3. Rated CRISIL AAA/STABLE and [ICRA]AAA(STABLE)
  4. Up to 0.35% p.a. extra interest offered for senior citizens
  5. Flexible interest payout options available - Monthly, Quarterly, Half-yearly, Annually or at Maturity

By proceeding, you agree to our Terms and Conditions

What monthly interest can be earned from a Rs. 10 lakh fixed deposit?

The table below presents the interest amounts earned, considering various interest rates, for an investment of Rs. 10 lakh in an FD:

Deposit AmountInterest Rate (p.a.)Monthly Interest Payout
Rs. 10 lakh6.00%Rs. 5,000
Rs. 10 lakh6.50%Rs. 5,416
Rs. 10 lakh7.00%Rs. 5,833
Rs. 10 lakh7.50%Rs. 6,250
Rs. 10 lakh8.00%Rs. 6,667
Rs. 10 lakh8.50%Rs. 7,083
Rs. 10 lakh9.00%Rs. 7,500
Rs. 10 lakh9.50%Rs. 7,717
Rs. 10 lakh10.00%Rs. 8,333


* The rates and interest amounts mentioned above are for illustration purposes only. For actual returns, please refer to the BFL FD calculator.

Interest Earnings on Bajaj Finance FDs – Real Examples

By investing Rs. 10 lakh in an FD with Bajaj Finance for a long tenure, investors can enjoy a relatively higher interest rate Adjusting the investment duration between 12 to 60 months enables investors to align FDs with their specific short-term or long-term financial goals.

The following table shows the FD interest rates offered by Bajaj Finance on an FD of Rs. 10 lakh for a tenure of 60 months:

Payout frequencyFD rates (Customers below the age of 60)FD rates (Senior Citizens)
Monthly7.16%7.49%
Quarterly7.20%7.53%
Half-yearly7.27%7.61%
Annual7.40%7.75%
At Maturity7.40%7.75%


Here are the interest earnings calculations for a Rs. 10 lakh fixed deposit with “monthly” selected as the payout frequency.

For customers below 60 years investing in an FD:

Deposit AmountTenureInterest rate (Payout frequency: Monthly)Total InterestMaturity Amount
Rs. 10 lakh12 months6.41%Rs. 64,100Rs. 10,64,100
Rs. 10 lakh24 months6.64%Rs. 99,873Rs. 10,99,873
Rs. 10 lakh36 months7.16%Rs. 1,85,196Rs. 11,85,196
Rs. 10 lakh60 months7.16%Rs. 3,58,000Rs. 13,58,000


*All calculations are done using the Bajaj Finance FD Calculator

Senior citizens investing in an FD:

Deposit AmountTenureInterest rate (Payout frequency: Monthly)Total InterestMaturity Amount
Rs. 10 lakh12 months6.74%Rs. 67,400Rs. 10,67,400
Rs. 10 lakh24 months6.97%Rs. 1,04,836Rs. 11,04,836
Rs. 10 lakh36 months7.49%Rs. 1,93,731Rs. 11,93,731
Rs. 10 lakh60 months7.49%Rs. 3,74,500Rs. 13,74,500

Enjoy extra interest of up to 0.35% p.a. when senior citizens invest in a Bajaj Finance FD. Check latest FD rates.

Monthly vs. Cumulative FD – What should you choose?

  • Non-Cumulative FD: Monthly interest payouts—perfect for generating income post-retirement or supplementing your salary.
  • Cumulative FD: Reinvest the interest for long-term wealth creation and receive a lump sum on maturity.

Choose what fits your lifestyle—whether it’s steady income or capital appreciation.

Fixed deposit variants

Highest Credit Ratings | Trusted with over 1.4 million Deposits | Assured Returns on FD
Recommended

Fixed Deposit - 60 Months

INTEREST RATES UP TO
7.75% p.a.
Invest Online

Fixed Deposit - Senior Citizen

INTEREST RATES UP TO
7.75% p.a.
Invest Online

Fixed Deposit - Age below 60

INTEREST RATES UP TO
7.40% p.a.
Open FD

Fixed Deposit - Minor

INTEREST RATES UP TO
7.40% p.a.
Open FD

Fixed Deposit - HUF

INTEREST RATES UP TO
7.40% p.a.
Open FD

Fixed Deposit - Sole Proprietor

INTEREST RATES UP TO
7.40% p.a.
Open FD

How to invest in a Bajaj Finance Fixed Deposit:

  • To initiate the process, click on 'Open FD' located at the top of this page to access our online application form.
  • Share your 10-digit mobile number and validate it by entering the OTP sent to your phone.
  • Input the desired investment amount, select the investment tenure, and specify the payout frequency. Additionally, add your PAN card details and date of birth.
  • Fulfil your KYC requirements: For existing customers, verify the provided details or make necessary edits. New customers can complete their KYC using their Aadhaar Card.
  • A declaration outlining the terms and conditions will be presented. Thoroughly review it and consent to the terms. Enter your bank details and proceed with the payment.
  • Finalise your investment using either Net Banking/UPI or NEFT/RTGS.

Once your fixed deposit is confirmed, you will receive the Fixed Deposit Acknowledgement (FDA) in your registered email address and as a link on your mobile number. An Electronic Fixed Deposit Receipt (e-FDR) will also be dispatched to your email ID within 3 working days, contingent on the correct order of documents.

Open your FD online in minutes

Zero paperwork. Instant confirmation. All from the comfort of your home. Open a Bajaj Finance FD today!

Eligibility criteria and documents required for opening a Rs. 10 lakh FD

Anyone can book our fixed deposit if they meet the basic criteria mentioned below.

  • Nationality: Resident Indians / Non-Resident Indians
  • Investor Type: Individuals, Senior Citizens, Minors, Sole Proprietorships, Partnership Firms, HUFs, Clubs, Associations, Societies, and Family Trusts
  • Documents Required: PAN and any KYC document: Aadhaar card/Passport/Driving license/Voter ID

*Documents can also be fetched from registered KYC.

You can update KYC Via CKYC, OKYC & Digi locker

Non-Resident Indians (NRIs), Persons of Indian Origin (PIO) and Overseas Citizens of India (OCI) can connect with our representative or write to us on wecare@bajajfinserv.in.

TDS on a Rs. 10 Lakh Fixed Deposit

When investing in a Fixed Deposit, it’s important to account for taxation on your interest income. Tax Deducted at Source (TDS) applies once your annual interest crosses the prescribed limit. Here are the key points to remember:

  • Interest earnings up to Rs. 50,000 per year are exempt from TDS.
  • For senior citizens, the exemption limit is higher at Rs. 1,00,000 per year.
  • If the annual interest exceeds these thresholds, a 10% TDS is deducted.
  • In case you haven’t submitted your PAN details, the TDS rate increases to 20%.

Penalty on premature withdrawal of Rs. 10 lakh FD

Premature withdrawal of a Rs.10 lakh fixed deposit with Bajaj Finance Fixed Deposit may involve a reduction in the applicable interest rate rather than a deduction from the principal amount. Generally, a penalty of about 0.50% may apply for withdrawals within one year, while withdrawals between one year and less than five years may attract around a 1.00% reduction in the interest rate. For tenures of five years and above, the penalty can go up to 1.00% to 1.50%, depending on the deposit size.

Additionally, if the FD is withdrawn after six months but before maturity, the interest payable may be about 2% lower than the applicable rate for the actual tenure completed. Reviewing these terms before investing can help manage liquidity needs and avoid unexpected reductions in returns.

Pro tip

Bajaj Finance offers attractive Fixed Deposit interest rates of up to 7.40% p.a. for non-senior citizens, and up to 7.75% p.a. for senior citizens, inclusive of an additional rate benefit of up to 0.35% p.a.

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Final Thoughts

A Rs. 10 lakh Fixed Deposit doesn’t just offer safety—it opens doors to steady earnings, personalised payouts, and financial peace of mind. Whether you're planning for retirement, managing monthly expenses, or simply growing your wealth, Bajaj Finance FDs deliver on all fronts—with flexibility, trust, and transparency.

Calculate your expected investment returns with the help of our investment calculators

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Frequently asked questions

Can NRIs open a Rs. 10 lakh FD?

Yes, NRIs can open a Rs. 10 lakh Fixed Deposit in India. However, the eligibility criteria and terms may vary among banks and NBFC.

How is monthly interest calculated on Rs. 10 lakh FD?

Monthly interest on a Rs.10 lakh FD is calculated using the formula: Principal × Interest Rate ÷ 12. The exact payout depends on the selected interest rate, tenure, and payout option chosen.

Can minor investors open Rs. 10 lakh FD?

Yes, minors can open a Rs.10 lakh fixed deposit through a parent or legal guardian. The guardian manages the investment until the minor reaches adulthood, subject to issuer specific rules and KYC requirements.

Are Rs. 10 lakh FDs taxable?

Yes, Rs. 10 lakh FDs are subject to taxation. The interest earned on fixed deposits is considered a part of an individual's taxable income. The interest is added to the total income and taxed based on the applicable income tax slab.

Why choose Bajaj Finance FD over other options?

With competitive rates up to 7.75% p.a., high safety ratings, flexible tenure, and both cumulative and non-cumulative options, Bajaj Finance FDs combine returns with reliability. Open FD.

Is there a minimum and maximum cap of interest rate for a fixed deposit of Rs. 10 lakhs?

There is no fixed minimum or maximum cap on interest rates for a Rs. 10 lakh FD. The interest rates vary among financial institution.

What are the eligibility criteria for a Rs. 10 lakh fixed deposit?

The eligibility criteria for a Rs. 10 lakh Fixed Deposit generally involve being an adult and complying with the bank's KYC requirements. Banks may have specific criteria, so it's advisable to check with the chosen bank for any additional conditions.

Can I take a loan against my 10 lakh Fixed Deposit?

Yes, you can usually take a loan against your Rs. 10 lakh Fixed Deposit. Financial institutions such as Bajaj Finance offer loan against FD at up to 75% of the deposit value.

Can I invest Rs. 10 lakhs in FD?

Yes. There’s no fixed maximum limit on how much you can deposit in a Fixed Deposit in India. However, banks or financial institutions may have their own internal limits or requirements.

How much tax for Rs. 10 lakh FD?

Interest earned on a Rs. 10 lakh FD is fully taxable as "Income from Other Sources," based on your applicable tax slab.

Is Rs. 10 lakh FD good?

Yes, investing Rs. 10 lakh in a Fixed Deposit can be a good option if you are looking for capital safety and assured returns. FDs are suitable for conservative investors, retirees, or anyone who wants predictable earnings. However, you should always compare FD interest rates across issuers to maximise your returns.

How much tax will be deducted for Rs. 10 lakh FD?

Tax Deducted at Source (TDS) is applicable on FD interest earnings. If your annual interest exceeds Rs. 50,000 (Rs. 1,00,000 for senior citizens), the bank or NBFC deducts 10% TDS, provided your PAN is submitted. Without PAN, TDS is deducted at 20%. The actual deduction will depend on the interest you earn on your Rs. 10 lakh FD and your income tax slab.

Is FD 100% safe?

Fixed Deposits are considered one of the safest investment options as they are not affected by market fluctuations. The safety of your FD depends on the financial institution you choose. For example, FDs rated AAA/Stable by CRISIL and ICRA are considered highly safe. Bank FDs are also insured up to Rs. 5 lakh by DICGC. So while no investment is 100% risk-free, FDs are among the most secure instruments available.

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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.