10 Lakhs FD Calculator

₹10 Lakh Fixed Deposit: Interest Per Month

If you are searching for 10 lakhs FD interest per month, this is the figure you want. At an illustrative 7% a year, ₹10 Lakh generates ₹70,000 of interest annually — which works out to ₹5,833 a month, or ₹17,500 a quarter if you take it quarterly instead.

One condition attaches to that number, and it matters: you only receive it monthly if you open a non-cumulative deposit, where interest is credited out to your savings account as it falls due. Ten lakh is the point at which most depositors first cross both the TDS threshold and the deposit insurance ceiling, so the paperwork changes even though the product does not.

Or Leave It In: What ₹10 Lakh Grows To

The alternative is a cumulative deposit, where nothing is paid out along the way. The interest stays in and compounds quarterly, and you receive one payment at the end. You give up the monthly income; in exchange the total is higher, because interest starts earning interest.

This is what the calculator at the top of the page computes. If you came here for the monthly figure, the number in the maturity box is answering the other question — both are shown below so you can weigh them against each other.

Read the last two columns against each other and the cost of the monthly route becomes visible: over five years compounding adds ₹64,778 more on the same ₹10 Lakh.

Ten lakh is the crossover point in more ways than one. It is where the monthly payout becomes meaningful income, and simultaneously where TDS starts and where insurance stops covering the whole deposit — three thresholds arriving at once.

TDS on a ₹10 Lakh Fixed Deposit

At 7%, ₹10 Lakh throws off about ₹70,000 of interest a year — comfortably past the ₹50,000 threshold at which banks deduct TDS under Section 194A. It sits below the ₹1,00,000 senior citizen threshold, so a senior citizen holding this deposit alone may escape deduction where a younger depositor would not.

The threshold applies to your combined interest at that bank, though, not to this deposit in isolation — other deposits and accounts count toward the same figure. Deduction is at 10% where the bank holds your PAN and 20% where it does not, so keeping PAN updated is worth real money at this level. TDS is not the final tax either way: it is an advance credit against your total liability, and interest remains taxable at your slab rate whether or not tax was withheld.

Is ₹10 Lakh Safe in One Bank?

DICGC insurance covers only ₹5,00,000 per depositor per bank — principal and accrued interest together, across every account you hold at that bank. ₹10 Lakh in one bank is therefore substantially uninsured. Splitting it to stay fully covered would mean spreading the money across 2 different banks, which at this size is usually impractical.

Splitting into two deposits of five lakh at different banks brings the whole amount inside cover, and costs nothing but a second account opening. At this size that is still practical, which is why it is worth doing here even if it stops being realistic higher up.

Compare Before You Commit

Rates differ by bank and by tenure slab, and the gap over a deposit this size is worth checking rather than assuming. Compare lenders on the master FD calculator, or if you want a monthly cheque from a government-backed scheme instead, the Post Office MIS calculator covers that structure — though it is capped at ₹9 lakh single and ₹15 lakh joint, which may accommodate a deposit of this size.