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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 NameInterest RatesMonthly 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
ICICI 7.60%Rs. 25,333
State Bank of India 7.60%Rs. 25,333
HDFC 7.75%Rs. 25,833
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

Can I extend the tenure of my FD?

Yes, you can extend the tenure of your FD by contacting the bank or financial institution where you opened the account.

How long can I invest 40 lakhs in an FD?

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.

What happens if the depositor dies before the FD matures?

In case of the untimely death of the depositor before the FD matures, the money will be paid to the nominee.

How can I open an FD online?

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.

How can I redeem my FD online?

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.

Fixed Deposit Interest Per Month