₹1 Crore FD Interest Per Month

Fixed Deposits (FDs) are a popular investment option in India, offering guaranteed returns on a deposited amount for a predetermined tenure. Interest rates on FDs vary depending on the financial institution, deposit amount, and tenure.

A ₹1 Crore FD can generate significant interest income. Rates typically range between 3.50% and 9.25% per year, depending on the bank you choose and the length of your deposit. Also, many banks offer senior citizen FDs with interest rates 0.50-0.75% higher than regular FDs.

Table of Contents:

• ⇾ Monthly Interest Rate on ₹1 Crore Fixed Deposit
• ⇾ Comparative Analysis of FD Rates From Top Lenders
• ⇾ ₹1 Crore FD Monthly Interest For General Public Vs Senior Citizens
• ⇾ Monthly Interest for ₹1 Crore FD in Public Sector Banks
• ⇾ Monthly Interest for ₹1 Crore FD in Private Sector Banks
• ⇾ Monthly Interest for ₹1 Crore FD in Small Finance Banks
• ⇾ Monthly Interest on ₹1 Crore FD in NBFCs
• ⇾ FD Calculator
• ⇾ Benefits of using an FD calculator
• ⇾ Steps To Open an FD Account For ₹1 Crore
• ⇾ Open an FD Account For ₹1 Crore Online
• ⇾ Open an FD Account For ₹1 Crore Through Branch Visit
• ⇾ Required Documents To Open an FD Account
• ⇾ Frequently Asked Questions

Monthly Interest Rate on ₹1 Crore Fixed Deposit

For a fixed deposit of ₹1 crore, even a small difference in the monthly interest rate can mean a significant variation in the total interest earned over the tenure of the deposit. Therefore, it is essential to know the monthly and yearly interest rate for ₹1 crore Fixed Deposit.

Comparative Analysis of FD Rates From Top Lenders

For investors with substantial capital, such as ₹1 Crore, maximizing monthly interest income becomes the primary consideration when choosing an FD. So, before you invest a lump sum of ₹1 Crore in FD, it is advisable to check and compare FD interest rates given by the top lenders.

Let's consider the interest rates offered by various lenders in the case of a ₹1 Crore FD for 1 year.

₹1 Crore FD Monthly Interest For General Public Vs Senior Citizens

The table below provides a clear comparison of the monthly interest earned on a ₹1 Crore FD for both the general public and senior citizens.

Monthly Interest for ₹1 Crore FD in Public Sector Banks

The table below provides a clear comparison of the monthly interest earned on a ₹1 Crore FD in public sector banks.

Monthly Interest for ₹1 Crore FD in Private Sector Banks

The table below provides a clear comparison of the monthly interest earned on a ₹1 Crore FD in private sector banks.

Monthly Interest for ₹1 Crore FD in Small Finance Banks

The table below provides a clear comparison of the monthly interest earned on a ₹1 Crore FD in small finance banks.

Monthly Interest on ₹1 Crore FD in NBFCs

FD Calculator

Benefits of using an FD calculator

• Saves time: It simplifies complex interest calculations, giving you quick results.
• Informed decisions: The FD calculator lets you compare interest rates and maturity amounts offered by different banks/NBFCs.

For Example

If the interest rate for the ₹1 Crore FD is 7% for a 1-year tenure, then the maturity value will be approximately ₹7,18,590.

The interest amount of which is 1,07,18,590 - ₹1,00,00,000 which equals to ₹7,18,590.

Therefore, the ₹1 crore FD interest per month will be ₹7,18,590. divided by 12 which equals ₹59,882 approximately.

Therefore, according to the calculation above, a ₹1 Crore FD at an interest rate of 7% will give you an estimated interest amount of ₹59,882 per month.

Steps To Open an FD Account For ₹1 Crore

A Fixed Deposit (FD) is a popular investment option in India offering guaranteed returns for a predetermined period. If you're considering a substantial investment like ₹1 crore, here's a guide to walk you through the steps involved in opening an FD account for this amount.

Open an FD Account For ₹1 Crore Online

• Step 1: Visit your bank's website and log in to your existing account.
• Step 2: Find a section labeled "Fixed Deposit," or "Open FD."
• Step 3: Enter details like the deposit amount, tenure (duration), and nominee information.
• Step 4: Some banks offer different FD options with varying features. Choose the one that suits your needs.
• Step 5: Use the bank's online payment system to transfer funds from your savings account to your new FD account.
• Step 6: Download or print a copy of the confirmation or receipt for your records.

Open an FD Account For ₹1 Crore Through Branch Visit

• Step 1: Go to a branch of the bank or financial institution where you want to open the FD account.
• Step 2: You can usually obtain an FD application form directly at the branch.
• Step 3: Carefully fill out the application form with your details like name, address, and contact information. Also, add the deposit amount, preferred tenure (lock-in period), and nominee.
• Step 4: Make sure you have the necessary documents for Know Your Customer (KYC) verification.
• Step 5: Once you've completed the form and gathered the documents, submit them to a bank representative at the branch.
• Step 6: The bank will process your application and provide you with a confirmation receipt or FD certificate.

Required Documents To Open an FD Account

• Identity proof and address proof.
• KYC Documents: The list of acceptable ID and address proof aligns with KYC guidelines in India.
• PAN Card: A PAN card is mandatory for FD accounts.
• Form 16: Banks may request Form 16 for deposits exceeding ₹40,000 for TDS purposes.
• Form 16: For deposits exceeding ₹40,000 in a financial year, the bank may ask for Form 16 to deduct TDS (Tax Deducted at Source) on the interest income.