In this article
Share
By making an investment of 1 crore in fixed deposits (FDs), you can reach your financial objectives and generate a steady monthly income. However, thorough research, comparing interest rates, and selecting a trustworthy bank or financial institution are crucial things that must be completed to ensure a peaceful investment journey.
Monthly Interest for 1 Crore in FD 2023
| Bank Name | Interest Rates | Monthly Interest for 1 Crore |
| Central Bank of India | 7.25% | Rs. 60,417 |
| City Union Bank | 7.50% | Rs. 62,500 |
| Bank of Maharashtra | 7.50% | Rs. 62,500 |
| Bank of India | 7.50% | Rs. 62,500 |
| ICICI | 7.60% | Rs. 63,333 |
| State Bank of India | 7.60% | Rs. 63,333 |
| HDFC | 7.75% | Rs. 64,583 |
| Punjab National Bank | 7.75% | Rs. 64,583 |
| Indian Overseas Bank | 7.75% | Rs. 64,583 |
| Bank of Baroda | 7.75% | Rs. 64,583 |
| Axis Bank | 7.85% | Rs. 65,417 |
| RBL Bank | 8.30% | Rs. 69,167 |
Frequently Asked Questions
One of the benefits of having an FD is that you can take a loan against it in case of a financial emergency. By opting for a loan against your FD, you can avoid breaking it prematurely and losing out on the accrued interest. Banks generally offer loans ranging from 60% to 90% of the deposited amount.
The minimum amount you can invest in an FD varies from bank to bank. However, it is generally between Rs.10,000 and Rs.50,000.
The maximum amount you can invest in an FD is also varies from bank to bank. However, it is generally capped at Rs.1 crore.
The minimum tenure for a Fixed Deposit is usually seven days. While the maximum tenure can extend up to 10 years.
Yes, if you choose to close your Fixed Deposit account before its maturity, your bank or financial institution may charge a penalty. Typically, the penalty results in a lower interest payout, ranging from 0.5% to 1%.
Google Play 
App Store 
Show comments