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The monthly fixed deposit plan is ideal for depositors who need a fixed income monthly to meet their expenses. This plan is especially popular among retired individuals or those having large surpluses from inheritance or other sources but does not have adequate income sources. Such individuals can deposit their surpluses in FDs with a monthly pay-out option and then, derive regular monthly income from it.
FD Monthly Interest Pay-out for Deposits of Rs 1 lakh
The monthly interest on a Rs 1 lakh FD at interest rates ranging from 2.50% to 8.50% p.a. is given below to provide an estimate of monthly income. However, you can also look at the respective bank’s and NBFC’s by using the fixed deposit calculator for the same.
| FD Amount | Interest Rates (p.a.) | Monthly Interest for Rs 1 lakh FD |
| Rs 1 lakh | 2.50% | Rs 208.33 |
| Rs 1 lakh | 3.00% | Rs 250 |
| Rs 1 lakh | 3.50% | Rs 291.66 |
| Rs 1 lakh | 4.00% | Rs 333.33 |
| Rs 1 lakh | 4.50% | Rs 375 |
| Rs 1 lakh | 5.00% | Rs 416.66 |
| Rs 1 lakh | 5.50% | Rs 458.33 |
| Rs 1 lakh | 6.00% | Rs 500 |
| Rs 1 lakh | 6.50% | Rs 541.66 |
| Rs 1 lakh | 7.00% | Rs 583.33 |
| Rs 1 lakh | 7.50% | Rs 625 |
| Rs 1 lakh | 8.00% | Rs 666.66 |
| Rs 1 lakh | 8.50% | Rs 708.33 |
The depositor should note that the monthly interest amount remains the same as long as the FD interest rate and FD amount are unchanged, irrespective of the tenure. Also senior citizen FD rates offered by most banks and NBFCs are 0.25-0.80% higher than their regular FD rates.
Also Read: Why Invest in FD ?
