5 Crores Fixed Deposit Interest per Month

5 Crores FD Monthly Interest per Month

Pabitra Kumar Maharana •

Updated on 24 Oct, 2023

Reviewed by

Fact checked by

2 Mins

Article Content

Monthly Interest for 5 Crore in FD 2024
Frequently Asked Questions

Making a sizable investment in fixed deposits (FDs), say 5 crores, will help you reach your financial objectives and create a reliable monthly income. To guarantee a stress-free investment experience, conducting thorough research, comparing interest rates, and selecting a suitable bank is crucial.

Monthly Interest for 5 Crore in FD 2024

Bank Name	Interest Rates	Monthly Interest for 5 Crore
Bank of India	6.25%	Rs. 260,417
Bank of Maharashtra	6.75%	Rs. 281,250
Punjab National Bank	7.00%	Rs. 291,667
ICICI	7.25%	Rs. 302,083
State Bank of India	7.25%	Rs. 302,083
City Union Bank	7.25%	Rs. 302,083
Axis Bank	7.25%	Rs. 302,083
Central Bank of India	7.25%	Rs. 302,083
HDFC	7.35%	Rs. 306,250
Bank of Baroda	7.55%	Rs. 314,583

Frequently Asked Questions

How is the interest on a fixed deposit paid?

The interest on a fixed deposit is usually paid at the end of the tenure of your investment. However, you can choose to have the interest paid to you on a monthly, quarterly, or half-yearly basis.

What are the charges for premature withdrawal of a fixed deposit?

The charges for premature withdrawal of a fixed deposit are usually a percentage of the interest you have earned on your investment. The percentage of interest you will have to pay as a penalty will depend on the tenure of your investment. Also, on the prevailing rules and regulations of the bank or financial institution. It is usually in the range of 0.5% to 1%.

What are the tax implications of fixed deposits?

The tax implications of fixed deposits will depend on your income tax slab. If your income is below the taxable limit, then you will not have to pay any tax on the interest earned on your fixed deposit. However, if your income is above the taxable limit, then you will have to pay tax on the interest earned on your fixed deposit. The tax rate will depend on your income tax slab.

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.

What are the risks of investing in FDs?

The main risk is that the bank or financial institution may fail. If this happens, you may lose all or part of your investment. However, FDs are insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC), up to ₹5 lakhs. This means that you will be protected up to ₹5 lahks in the event of a bank failure.