Clickable arrow icon In this article
2 Mins

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 NameInterest RatesMonthly 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

Can I take a loan against my 1 crore Fixed Deposit?

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.

What is the minimum amount I can invest in an FD?

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.

What is the maximum amount I can invest in an FD?

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.

What is the minimum and maximum tenure for investing in an FD account?

The minimum tenure for a Fixed Deposit is usually seven days. While the maximum tenure can extend up to 10 years.

Will there be a penalty for early withdrawal of an FD?

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%.

Fixed Deposit Interest Per Month