You can ensure a consistent monthly income and meet your financial goals by investing a sizeable sum in FDs, such as 3 crores. To have a stress-free investment journey, be sure to compare interest rates and select a reputable bank or financial institution.
Monthly Interest for 3 Crore in FD 2023
|Bank Name||Interest Rates||Monthly Interest for 3 Crore|
|Bank of India||6.25%||Rs. 156,250|
|Bank of Maharashtra||6.75%||Rs. 168,750|
|Punjab National Bank||7.00%||Rs. 175,000|
|State Bank of India||7.25%||Rs. 181,250|
|City Union Bank||7.25%||Rs. 181,250|
|Axis Bank||7.25%||Rs. 181,250|
|Central Bank of India||7.25%||Rs. 181,250|
|Bank of Baroda||7.55%||Rs. 188,750|
Frequently Asked Questions
If the bank or financial institution fails, your FD will be insured for up to 5 lakhs by the Deposit Insurance and Credit Guarantee Corporation (DICGC).
Yes, it is possible to make a deposit in the name of a minor. However, the minor must be represented by their natural or legal guardian, and the application form for the deposit must be signed by the guardian on behalf of the minor. All communication regarding the deposit will be addressed to the guardian.
Yes, you can withdraw your 3 crore FD before maturity, but you may have to pay a penalty. The amount of the penalty will vary depending on the bank or financial institution.
The minimum tenure for a Fixed Deposit is usually seven days, while the maximum tenure can extend up to 10 years.
Yes, most financial institutions offer special interest rates for senior citizens.