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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 2024

Bank NameInterest RatesMonthly 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
ICICI 7.25%Rs. 181,250
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
HDFC 7.35%Rs. 183,750
Bank of Baroda 7.55%Rs. 188,750

Frequently Asked Questions

What happens if the bank or financial institution fails?

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).

Can I make a 3 crore fixed deposit in the name of a minor alone?

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.

Can I withdraw my 3 crore FD before maturity?

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.

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.

Are there special interest rates for senior citizens?

Yes, most financial institutions offer special interest rates for senior citizens.

Fixed Deposit Interest Per Month