Investing 40 lakhs into fixed deposits (FDs) can assist you in generating a consistent monthly income and attaining your financial objectives. Nevertheless, conducting thorough research, comparing interest rates, and selecting a trustworthy bank or financial institution are crucial steps to ensure a hassle-free investment journey.
Monthly Interest for 40 Lakhs in FD 2023
|Bank Name||Interest Rates||Monthly Interest for 40 Lakh|
|Central Bank of India||7.25%||Rs. 24,167|
|City Union Bank||7.50%||Rs. 25,000|
|Bank of Maharashtra||7.50%||Rs. 25,000|
|Bank of India||7.50%||Rs. 25,000|
|State Bank of India||7.60%||Rs. 25,333|
|Punjab National Bank||7.75%||Rs. 25,833|
|Indian Overseas Bank||7.75%||Rs. 25,833|
|Bank of Baroda||7.75%||Rs. 25,833|
|Axis Bank||7.85%||Rs. 26,167|
|RBL Bank||8.30%||Rs. 27,667|
Frequently Asked Questions
Yes, you can extend the tenure of your FD by contacting the bank or financial institution where you opened the account.
The tenure of an FD can range from 7 days to 10 years. However, some banks also offer longer tenures, such as 20 or 30 years.
In case of the untimely death of the depositor before the FD matures, the money will be paid to the nominee.
Most banks now offer the option to open an FD online. To do this, you will need to create an account with the bank and provide some basic information, such as your name, address, and PAN number.
Most banks now offer the option to redeem your FD online. To do this, you will need to log in to your account and under the Fixed Deposit section, choose the option to close/ redeem your FD.