₹50 Lakh FD Interest Per Month

A ₹50 lakh fixed deposit (FD) with monthly interest payouts helps generate a substantial and consistent income stream, potentially exceeding ₹40,000 every month. This approach offers numerous benefits. It helps with budgeting and covering essential expenses, giving you peace of mind and increased financial security.

This webpage will give you an overview of the interest you can earn each month by investing ₹50 lakh in FD.

Monthly Interest Rate on ₹50 Lakh Fixed Deposit

The table below shows the monthly and yearly income that can be generated from a ₹50 lakh fixed deposit, with interest rates ranging from 4% to 10% per annum.

₹50 Lakh FD Interest Per Month by Banks & NBFCs

₹50 lakh FD interest rates can vary across different financial institutions, such as public sector banks, private sector banks, small finance banks, and non-banking financial companies (NBFCs). It's important to compare the potential earnings based on the interest rates offered by these lenders. This can help you identify the most competitive options and maximise the monthly income from your fixed deposit investment.

₹50 Lakh FD Interest per Month by Public Sector Banks

₹50 Lakh FD Interest per Month by Private Sector Banks

₹50 Lakh FD Interest per Month by Small Finance Banks

₹50 Lakh FD Interest per Month By NBFCs

₹Compare FD Interest Rates From Top Lenders

When considering investing in a Fixed Deposit (FD), you have to research and select the lender that aligns with your financial objectives. To assist you in making an informed decision, here is a list of FD interest rates offered by some of the top lenders:

FD Calculator

Steps to Open an FD Account For ₹50 Lakh

To open a Fixed Deposit (FD) account, you can choose between online and offline channels. Here are the steps to follow when opening an FD account for ₹50 lakh:

For the Online Process:

Step 1: Visit your online banking portal and locate the option for fixed deposits or term deposits.

Step 2: Select the "Open FD" or "Create New FD" option and proceed to accurately fill out the online application form with the required details.

For the Offline Process:

Step 1: Visit the nearest branch of your preferred bank or financial institution.

Step 2: Obtain and accurately complete the paper-based application form for opening a fixed deposit account.

Step 3: Attach the necessary documentation, such as identity proof, address proof, and any other required documents, to the application form.

Step 4: Submit the completed application form along with the deposit amount, either in cash or by cheque, to the bank representative.

Eligibility Criteria For ₹50 Lakh FD

To open a ₹50 lakh fixed deposit, a variety of entities are eligible. They include:

We have,

• Indian Residents
• Sole Proprietorship Firms
• Partnership Firms
• Companies
• Hindu Undivided Families (HUFs)
• Associations
• Clubs
• Societies
• Family Trusts

Documents Required For ₹50 Lakh FD

Here are the key documents required for opening a ₹50 lakh Fixed Deposit (FD) account:

• Identity Proof: Aadhaar Card, Passport, Voter ID, or Driving License.
• Address Proof: Utility bills, Passport, Aadhaar Card, Rent Agreement, or Driving License.
• PAN Card: Mandatory for FD investments above ₹50,000.

Things to Note Before Investing in ₹50 Lakh FD

Investing ₹50 lakh in an FD is a significant financial decision, and it's essential to evaluate all aspects carefully before committing your funds. Here are some important things to note before investing ₹50 lakh in a Fixed Deposit (FD):

• Interest Rates: Compare the interest rates offered by different banks and financial institutions for FDs of ₹50 lakh. Higher interest rates can yield better returns on your investment.
• Safety of Investment: Ensure that the bank or financial institution where you plan to invest is reputable and has a strong financial standing. Investing in FDs with well-established banks can minimise the risk of default.
• Tenure: Decide on the tenure of the FD based on your financial goals and liquidity requirements. Longer tenures generally offer higher interest rates, but they also lock your money for a longer period.
• Premature Withdrawal Penalties: Understand the premature withdrawal rules and penalties associated with the FD. Some banks may charge a substantial penalty if you withdraw the FD before maturity.
• Tax Implications: Interest earned on FDs is taxable as per your income tax slab rates. If the interest income exceeds the threshold limit, you may need to pay tax on the interest earned.
• Senior Citizen Rates: If you are a senior citizen, some banks offer higher interest rates on FDs. Make sure to check if you are eligible for any special rates.
• Compounding Frequency: Choose the compounding frequency (quarterly, half-yearly, or annually) that best suits your investment goals. Higher compounding frequencies can result in higher returns.
• Loan Against FD: Some banks allow you to take a loan against your FD. Consider this option if you may need liquidity in the future while keeping your FD intact.