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1 Crore FD Interest Per Month

Fixed deposits are one of the safest financial instruments which provide a greater interest rate than a savings account. With fixed and attractive interest rates, you can get guaranteed returns by investing a sum of money for a fixed period of time. The best banks also offer regular interest payout options which can act as an income. Many people wonder how much 1 Crore FD interest would be on a monthly basis.

1 Crore Fixed Deposit can be a decent source of income in India. Banks offer very attractive FD interest rates which can especially be helpful for someone investing in 1 Crore FD for early retirement. In this article, we’ll be discussing 1 Crore FD interest per month.

Read More: 2 Crore Fixed Deposit (FD) Interest Per Month

1 Crore FD Interest Per Month:

The amount of monthly interest will depend on the FD Rates. Higher the FD rate, the higher will be your monthly interest income. For simple calculation, lets assume you invested ₹ 1 Crore in Fixed Deposit Account with interest rate of 6%, then you will get ₹ 6,00000 per Annum or ₹ 50,000 per Month.

1 Crore FD Interest Per Month Annual Income On 1 Crore Fixed Deposit Monthly Interest on 1 Crore FD
6% ₹ 6 Lakhs 50,000
5.50% ₹ 5.5 Lakhs 45,833
5% ₹ 5 Lakhs 41,666

1 Crore FD Interest Rates Per Annum: Top 10 Banks in India

As per the current rates, 1 Crore FD interest ranges between 1.75%-9.75% per annum. The top 10 banks in India provide attractive interest rates on FDs for amounts below 2 Crore. Senior citizens get an added advantage of a greater interest rate with interest rates 0.25%-0.75% greater than regular individuals.

Name of Bank

For General Citizens (p.a.)

For Senior Citizens (p.a)

State Bank of India FD

2.90% to 5.40% 3.40% to 6.20%
ICICI Bank FD 2.50% to 4.40%

2.50% to 4.40%


2.50% to 5.50% 3.00% to 6.25%
Punjab National Bank FD 2.90% to 5.25%

3.50% to 5.75%

Canara Bank FD

2.90% to 5.25% 2.90% to 5.75%
Axis Bank FD 2.50% to 5.75%

2.50% to 6.50%

Bank of Baroda FD

2.80% to 5.25% 3.30% to 5.75%
IDFC Bank FD 2.75% to 5.75%

3.25% to 6.25%

Bank of India FD

2.85% to 5.05% 3.35% to 5.55%

Punjab and Sind Bank FD

3.00% to 5.30%

3.50% to 5.60%


Read More: 2022 Best Fixed Deposit (FD) Interest Rates

Eligibility Criteria for 1 Crore FD Investment

You need to fulfill the eligibility criteria mentioned below to be able to invest in 1 crore FD:

  • You should be an adult i.e. you should be over 18 years of age. 
  • You must have a PAN card. Hindu Undivided Families (H.U.F) are required to have a separate PAN card.
  • FD can be opened for minors under the guardianship of a guardian. 
  • You must satisfy RBI mandated KYC guidelines which include identity proof, age proof, and address proof, among others. 

Documents Required for Investing in 1 Crore FD

You need to submit the following documents for 1 Crore Fixed Deposit: * 

  • Identity Proof: Passport, PAN card, Voter ID card, Driving license, Government ID card, Photo ration card
  • Address Proof: Passport, Telephone bill, Electricity bill, Bank Statement with Cheque
  • Signature Proof: Passport, PAN card, Driving License Documents Required for Senior Citizen 

If you’re a senior citizen, you would need to submit some additional documents such as age proof, Form 15 H, etc., to invest in 1 Crore FD.

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Tax on 1 Crore FD Interest

Here is everything you need to know about the tax you’re going to pay on the income generated by 1 Crore FD Interest:

  • The interest income generated by 1 Crore FD interest is fully taxable. It comes under the head of ‘Income from Other Sources’ under your income tax return.
  • If the interest income from all FDs with a bank (but across all branches) is less than Rs 40,000, then any TDS will not be deducted by the bank. Otherwise, there would be a 10% TDS deduction if the interest income by an FD exceeds Rs 40,000 with a bank.
  • If your total income is less than the minimum taxable amount, then you are not required to pay any taxes on your 1 Crore FD interest income. However, there would be a 10% TDS deduction if the interest income by an FD exceeds Rs 40,000. You need to submit Form 15G and Form 15H to the bank at the beginning of each financial year to ensure that the TDS is not deducted. The banks will not deduct TDS following the form submission.
  • But if you fall in a higher tax bracket like 20% or 30%, then you have to pay the differential tax amount yourself before the filing of income tax returns for the financial year.



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How much is the monthly 1 Crore FD interest if the annual interest rate is 6%?

If the FD interest rate is 6%, then you get Rs 6 lakh on a fixed deposit of Rs 1 crore in a year. This means you get a monthly interest of Rs 50,000.

Is 1 Crore FD interest income taxable?

Yes, the interest income generated by 1 Crore FD is fully taxable. The bank will deduct the TDS if your income exceeds Rs. 40,000. If you have a higher or lower liability than the TDS deducted, you can settle the difference by filing your ITR,

How to calculate monthly interest for 1 Crore FD interest?

To calculate monthly FD Interest you need to know the annual interest rate. You can calculate the monthly interest on your 1 Crore FD by following the below-mentioned steps:

Convert the annual rate from percentage to decimal format by dividing the rate by 100.
Divide the annual rate by 12.
Multiply the annual rate with the interest amount to obtain the monthly rate of interest.
Convert the monthly rate into a percent by multiplying it by 100.

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