{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/www.indusind.com\/iblogs\/fixed-deposit\/monthly-interest-rates-20-lakh-fd\/#BlogPosting","mainEntityOfPage":"https:\/\/www.indusind.com\/iblogs\/fixed-deposit\/monthly-interest-rates-20-lakh-fd\/","headline":"Monthly Interest Rates for a \u20b920 Lakh Fixed Deposit (FD)","name":"Monthly Interest Rates for a \u20b920 Lakh Fixed Deposit (FD)","description":"Investing \u20b920 lakh wisely can provide the financial security many aspire to achieve. A fixed deposit can be an ideal investment option with attractive returns, tax benefits, insurance protection by the Deposit Insurance and Credit Guarantee Corporation (DICGC), and the option to borrow against the deposit. IndusInd Bank Fixed Deposits amplify these advantages by offering...","datePublished":"2024-09-26","dateModified":"2024-09-26","author":{"@type":"Person","@id":"https:\/\/www.indusind.com\/iblogs\/author\/indusind_bank_pfx_team_indperformics-com\/#Person","name":"CONVONIX Antony","url":"https:\/\/www.indusind.com\/iblogs\/author\/indusind_bank_pfx_team_indperformics-com\/","image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/7d15b864167d3868c12ffdda340cc1c9?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/7d15b864167d3868c12ffdda340cc1c9?s=96&d=mm&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"IndusInd","logo":{"@type":"ImageObject","@id":"https:\/\/www.indusind.com\/iblogs\/wp-content\/uploads\/logo-2.png","url":"https:\/\/www.indusind.com\/iblogs\/wp-content\/uploads\/logo-2.png","width":201,"height":86}},"image":{"@type":"ImageObject","@id":"https:\/\/www.indusind.com\/iblogs\/wp-content\/uploads\/Monthly-Interest-Rates-for-Rs.-20-Lakh-on-Fixed-Deposit-FD-min-1.jpg","url":"https:\/\/www.indusind.com\/iblogs\/wp-content\/uploads\/Monthly-Interest-Rates-for-Rs.-20-Lakh-on-Fixed-Deposit-FD-min-1.jpg","height":288,"width":764},"url":"https:\/\/www.indusind.com\/iblogs\/fixed-deposit\/monthly-interest-rates-20-lakh-fd\/","about":["Fixed Deposit"],"wordCount":1052,"keywords":["fixed deposit","fixed deposit interest rates"],"articleBody":"Investing \u20b920 lakh wisely can provide the financial security many aspire to achieve. A fixed deposit can be an ideal investment option with attractive returns, tax benefits, insurance protection by the Deposit Insurance and Credit Guarantee Corporation (DICGC), and the option to borrow against the deposit. IndusInd Bank Fixed Deposits amplify these advantages by offering competitive rates and a monthly payout option.With an amount as substantial as \u20b920 lakh in an FD, you can expect a reliable monthly interest payout. But what exact amount can you expect in return? Continue reading to find out how much monthly interest a \u20b920 lakh FD can generate over various tenures.\u20b920 lakh FD Interest per Month for 1, 5, and 10 YearsBanks offer different interest rates for fixed deposits based on the tenure of the investment. Typically, shorter tenures, such as a year, might have lower interest rates compared to longer tenures, like five or 10 years. For instance, if a bank offers 6% p.a. on an FD for one year, you might find that the same bank offers 6.5% for five years and 7% for 10 years.Let’s use these rates to understand how much you can earn monthly for different tenures with the help of an online FD calculator.1-Year FDA 1-year FD at 6% per annum for \u20b920 lakh could offer around \u20b910,227 per month.How this amount can help: This amount in your FD account can help in covering monthly expenses like utility bills and groceries. Moreover, this amount can help you prepare for unexpected emergencies without needing to tap into other savings or investments. This regular income stream also allows for small reinvestment opportunities that can be adjusted according to short-term financial goals.5-Year FDA 5-year FD at 6.5% per annum for \u20b920 lakh would offer about \u20b910,775 per month.How this amount can help: Interest for a \u20b920 lakh fixed deposit at this rate means more substantial monthly earnings. This extra income can be used for various purposes, like paying for your kid\u2019s education, loan Equated Monthly Instalments (EMIs), or even saving for a future big purchase.10-Year FDA decade-long commitment to an FD at 7% could yield approximately \u20b911,599 each month.How this amount can help: This consistent higher inflow can be crucial in long-term planning, such as preparing for retirement or funding kids\u2019 higher education. You can also use this reliable income to invest in advanced home appliances or save for family vacations, which can improve your quality of life.Also Read: Tips for Maximising Returns on Fixed DepositsInvest \u20b920 Lakh Smartly with IndusInd Bank Fixed Deposits\u20b920 lakh is not a small sum, it represents a significant portion of your hard-earned savings. Such a considerable amount demands a carefully chosen investment avenue with the right bank. Hence, you must choose IndusInd Bank Fixed Deposits, which offer best-in-class interest rates to boost the growth of your savings. Look at the additional benefits you enjoy:Hassle-free instant bookingOpen an FD online in three steps using your PAN and Aadhaar detailsFlexible interest payment optionsChoose from monthly, quarterly, half-yearly, annually, or at-maturity options for interest paymentsAuto-renewal optionOpt for convenient auto-renewal options for your fixed depositTax-saver FDReduce tax liability and earn good returns with a five-year tax-saver FD optionKey TakeawaysConsistent income from a \u20b920 lakh FD monthly interest can help you meet monthly expenses, support lifestyle needs, manage debt, or fund other investments. This consistent income source can be particularly beneficial for retirees or those seeking a predictable return on their savings with zero risks.IndusInd Bank Fixed Deposits allow you to make the most of your \u20b920 lakh FD. With attractive rates and flexible interest payout options, you can easily manage and grow your hard-earned savings. So, why postpone your financial growth? Let your \u20b920 lakh work for you right away. Apply now!Disclaimer:The information provided in this article is generic and for informational purposes only. It is not a substitute for specific advice in your circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct\/indirect loss or liability incurred by the reader for making any financial decisions based on the contents and information.Share This:"}