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₹ 1 Crore FD Interest Rate

₹ 1 Crore FD: Details

Last Updated 21st Sep 2021

  • Earn interest on ₹ 1 crore fixed deposit up to 6.95%.
  • One Crore FD Interest depends on the FD tenure and rate of interest.
Banks FD Interest on ₹ 1 Crore Senior Citizen Rates on ₹ 1 Crore FD
HDFC 6.20% - 6.65% 6.00% - 6.50%
PNB Housing Finance 5.90% - 6.70% 6.15% - 6.95%
Bajaj Finance 5.65% - 6.50% 5.90% - 6.75%
SBI 2.90% - 5.40% 3.40% - 6.20%
IDFC First Bank 2.75% - 5.75% 3.25% - 6.25%
Earn upto 6.95% on FD APPLY NOW

₹ 1 Crore Fixed Deposit

A fixed deposit is an investment instrument that offers a higher rate of interest than a savings account. Investing ₹ 1 crore in a fixed deposit requires investment in your fixed deposit account over a fixed period of tenure. The tenure for ₹ 1 crore FD typically ranges from 7 Days to 10 Years.

Banks or financial institutions provide returns on your deposit at a fixed rate of interest. You can receive the returns on ₹ 1 crore fixed deposit in regular intervals, either fortnightly, monthly, quarterly or at the end of tenure. If you want regular income every month, you can choose the monthly interest payout fixed deposit.

Monthly Interest on ₹ 1 Crore Fixed Deposit

If you have invested the amount of ₹ 1 Crore in your fixed deposit account and chosen the option to receive monthly interest on your fixed deposit, the amount of monthly interest will depend on the FD Rates. Higher the FD rate, the higher will be your monthly interest income. Consider a few examples to understand this.

1 Crore FD Interest Per MonthAnnual Income on 1 Crore Fixed DepositMonthly Interest on 1 Crore FD
7% ₹ 7 Lakhs ₹ 58,333
6.5% ₹ 6.5 Lakhs ₹ 54,167
6% ₹ 6 Lakhs ₹ 50,000
5% ₹ 5 Lakhs ₹ 41,667

What is the Eligibility Criteria for One Crore FD?

If you want to invest in one crore FD, you need to fulfill the eligibility criterias as mentioned below:

  • You should be aged above 18 years of age.
  • You must have a PAN card.
  • Hindu Undivided Family (H.U.F) are required to have a separate PAN.
  • Minors can open FD under guardianship of a guardian.
  • You must satisfy RBI mandated KYC guidelines which include identity proof, age proof and address proof, among others.

What are the Documents Required for ₹ 1 Crore Fixed Deposit?

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

  • Identity Proof: Passport, PAN card, Voter ID card, Driving licence, 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

To invest in Senior Citizen for ₹ 1 Crore FD, you would require additional documents such as age proof, Form 15 H

1 Crore FD Interest Rate For Senior Citizen

FD Interest for 1 crore on senior citizen FD is 0.25% - 0.75% higher than the regular 1 Crore FD and ranges between 1.75% to 9.75%. The table below mentions one crore FD Interest on senior citizen FD for top banks.

Bank Name Senior Citizen FD Interest on 1 Crore
Yes Bank
Compare
3.75% - 7.25%
IndusInd Bank
Compare
3.00% - 7.00%
Karnataka Bank
Compare
3.80% - 6.95%
RBL Bank
Compare
3.75% - 6.80%
India Post Office
Compare
5.50% - 6.70%
Lakshmi Vilas Bank
Compare
2.50% - 6.50%
DCB Bank
Compare
4.85% - 6.45%
ICICI Bank
Compare
3.00% - 6.30%
IDFC First Bank
Compare
3.25% - 6.25%
HDFC Bank
Compare
3.00% - 6.25%

TDS on ₹ 1 Crore Fixed Deposits

  • If you have invested in FD of ₹ 1 Crore, the interest earned on fixed deposit is fully taxable.
  • If ₹ 1 Cr fixed deposit monthly income from all the fixed deposits is less than ₹ 40,000, then the bank will not deduct any TDS.
  • In case FD Interest on ₹ 1 Crore FD exceeds ₹ 40,000 the bank will deduct TDS @10%. However, if you fall in a higher income bracket, you will have to pay the additional tax while filing tax returns.

Compare Interest Rates for One Crore FD

As per the current rates, FD Interest rates for ₹ 1 crore ranges between 1.75% to 9.75%. Here are the interest rates offered by top banks for ₹ One Crore FD:

Bank Name Interest on ₹ 1 Cr FD
Yes Bank
Compare
3.75% - 7.25%
IndusInd Bank
Compare
3.00% - 7.00%
Karnataka Bank
Compare
3.80% - 6.95%
RBL Bank
Compare
3.75% - 6.80%
India Post Office
Compare
5.50% - 6.70%
Lakshmi Vilas Bank
Compare
2.50% - 6.50%
DCB Bank
Compare
4.85% - 6.45%
ICICI Bank
Compare
3.00% - 6.30%
IDFC First Bank
Compare
3.25% - 6.25%
HDFC Bank
Compare
3.00% - 6.25%

FAQs

Is there a minimum and maximum cap to the monthly interest for ₹ 1 Crore fixed deposit?

The monthly interest for 1 Crore fixed deposit is fixed depending on the cumulative rate of interest and tenure. However there is no minimum and maximum cap to interest on ₹ 1 Cr FD. Currently interest rate on one crore FD ranges between 1.75% to 9.75%

Are 1 Crore FDs taxable?

Yes, the monthly interest on ₹ 1 Crore fixed deposit is fully taxable. Banks will also deduct TDS at 10% if the total ₹ 1 Cr FD interest exceeds ₹ 40,000

Are there any tax benefits for senior citizens that come along with the 1 crore rupees fixed deposit interest per month?

Yes, the limit for TDS deduction for senior citizens if they have invested in ₹ 1 Crore rupees fixed deposit is more than the regular citizens. For senior citizens, if the annual income on FD of ₹ 1 Crore is less than ₹ 50,000, banks do not deduct TDS. The limit for TDS Deduction on regular FD is ₹ 40,000

How to calculate monthly FD interest rates?

To calculate monthly FD Interest you need to annual interest rate to monthly FD Interest Rates using the steps as mentioned below:

  • Convert the annual rate from percentage to decimal format by dividing the rate by 100
  • Divide the annual rate (the decimal form) by 12
  • Multiply the annual rate with the interest amount to obtain the monthly rate
  • Convert the monthly rate into percentage by multiplying it with 100.

How much interest for ₹ 1 crore in SBI per month?

The FD interest for ₹ 1 crore in SBI per month depends on the SBI FD rate of interest. As per the current FD Rates, SBI provides highest FD rates at 6.20%. So, ₹ 1 crore FD monthly interest will be ₹ 51,667.


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*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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