50 Lakh FD Interest Per Month
Imagine transforming your savings into a powerful income stream. This is the potential of fixed deposits (FDs), a cornerstone in the landscape of personal finance. Generating ₹50 lakh in monthly interest from FDs isn’t just a dream; it’s a realistic goal with the right strategy.
Fixed deposits are more than just a traditional savings tool; they are a gateway to financial security and stability. With the right approach, they can offer much more than safety – they can be a source of substantial passive income.
In this blog, we’ll understand how FDs work, dissecting how to maximise returns and minimise risks. We’ll explore high-yield options, dissect interest rate trends, and provide you with a roadmap to turn your financial aspirations into reality.
Monthly Interest Payout on ₹50 Lakh Fixed Deposit (For 5 Years)
In a time where market fluctuations and economic uncertainties are common, FDs stand out as a beacon of certainty. Whether you are planning for retirement, saving for a big purchase, or simply looking to grow your wealth, understanding the intricacies of fixed deposits is essential. From choosing the right bank or NBFC to selecting the ideal tenor, every decision plays a crucial role in shaping your financial future. Here’s a table indicating the monthly interest payout on a ₹50 Lakh fixed deposit for a tenor of 5 years across different banks and NBFCs:| Bank/NBFC/HFC | Non-Senior Citizen (p.a.) | Monthly Interest Payout (Non-Senior) | Senior Citizen (p.a.) | Monthly Interest Payout (Senior) |
| PNB Housing Finance Ltd. | 7.65% | ₹ 31,875 | 7.95% | ₹ 33,125 |
| Mahindra Finance Ltd. | 8.05% | ₹ 33,542 | 8.30% | ₹ 34,583 |
| ICICI Bank | 7.00% | ₹ 29,167 | 7.50% | ₹ 31,250 |
| HDFC Bank | 7.00% | ₹ 29,167 | 7.50% | ₹ 31,250 |
| IDFC First Bank | 7.00% | ₹ 29,167 | 7.50% | ₹ 31,250 |
| Axis Bank | 7.00% | ₹ 29,167 | 7.75% | ₹ 32,292 |
| IndusInd Bank | 7.25% | ₹ 30,208 | 8.00% | ₹ 33,333 |
| YES Bank | 7.25% | ₹ 30,208 | 8.00% | ₹ 33,333 |
| Jana Small Finance Bank | 7.25% | ₹ 30,208 | 7.75% | ₹ 32,292 |
Monthly Interest Payout on ₹50 Lakh Fixed Deposit (For 10 Years)
Here’s the table indicating the monthly interest payout on a ₹50 Lakh fixed deposit for a tenor of 10 years across different banks and NBFCs:| Bank/NBFC/HFC | Non-Senior Citizen (p.a.) | Monthly Interest Payout (Non-Senior) | Senior Citizen (p.a.) | Monthly Interest Payout (Senior) |
| PNB Housing Finance Ltd. | 7.95% | ₹ 33,125 | 8.20% | ₹ 34,167 |
| Mahindra Finance Ltd. | 8.55% | ₹ 35,625 | 8.80% | ₹ 36,667 |
| ICICI Bank | 7.30% | ₹ 30,417 | 7.80% | ₹ 32,500 |
| HDFC Bank | 7.30% | ₹ 30,417 | 7.80% | ₹ 32,500 |
| IDFC First Bank | 7.30% | ₹ 30,417 | 7.80% | ₹ 32,500 |
| Axis Bank | 7.30% | ₹ 30,417 | 8.05% | ₹ 33,542 |
| IndusInd Bank | 7.55% | ₹ 31,458 | 8.30% | ₹ 34,583 |
| YES Bank | 7.55% | ₹ 31,458 | 8.30% | ₹ 34,583 |
| Jana Small Finance Bank | 7.55% | ₹ 31,458 | 8.05% | ₹ 33,542 |
50 Lakh FD Interest Per Month
Here’s the table for the top bank FD monthly interest payout for deposits of Rs 50 lakhs.| Bank Name | Tenor | Interest Rates | Monthly Interest for 50 lakh |
| Central Bank of India | Long-term FDs (5 years and more) | 5.00% | ₹20,833 |
| City Union Bank | Long-term FDs (5 years and more) | 5.25% | ₹21,875 |
| Bank of Maharashtra | long-term FDs (5 years to 10 years) | 4.90% | ₹20,417 |
| Bank of India | 5-10 years | 6.00% | ₹25,000 |
| ICICI | Long-term deposits with tenures ranging from 5 to 10 years. | 6.25% | ₹26,042 |
| HDFC | 5-10 years | 7.00% | ₹29,167 |
| Punjab National Bank | 3-10 years | 6.50% | ₹27,083 |
| Indian Overseas Bank | 3-10 years | 6.50% | ₹27,083 |
| Bank of Baroda | 5.10 years | 6.50% | ₹27,083 |
| Axis Bank | 5-10 years | 7.00% | ₹29,167 |
| RBL Bank | 60 days-240 months | 7.00% | ₹29,167 |
TDS on ₹50 lakh Fixed Deposit
Tax Deducted at Source (TDS) on a ₹50 lakh fixed deposit is an important consideration for depositors in India. As per the Income Tax Act, banks and financial institutions are required to deduct TDS on the interest earned from FDs if the interest amount exceeds ₹40,000 in a financial year (₹50,000 for senior citizens). The rate of TDS is typically 10% if PAN details are provided; otherwise, it goes up to 20%. However, it’s essential to note that the actual tax liability depends on the depositor’s income tax slab. Depositors can submit Form 15G (or Form 15H for senior citizens) to the bank if their total income, including the interest on FD, falls below the taxable limit to avoid TDS deduction. Furthermore, the interest from FDs is added to one’s total income and taxed according to the applicable slab rates. It’s important for individuals, especially those with large FDs like ₹50 lakh, to plan their taxes accordingly and consider the implications of TDS on their returns.In Conclusion
Fixed deposits offer a reliable and effective way to grow your savings, especially with significant amounts like ₹50 lakh. The tables provided in this blog highlight the diverse interest rates and monthly payouts available across various banks and NBFCs for tenors of 5 and 10 years, showcasing options suitable for both non-senior and senior citizens. It’s crucial to be aware of the tax implications, including TDS, and utilise tools like Form 15G or 15H for tax efficiency. Ultimately, FDs stand as a testament to the power of smart savings, offering a blend of safety, predictability, and attractive returns. As part of a well-planned financial strategy, FDs can significantly contribute to achieving your financial goals, ensuring both the security and growth of your hard-earned money.
Team LenDenClub
LenDenClub is India’s largest alternate investment platform which started operations in India in 2015. We have been helping investors diversify their investments beyond traditional investment instruments ever since.