3 Crore Fixed Deposit Interest Per Month

Fixed deposits are one of the safest financial instruments and pay a higher rate of interest than savings accounts. By investing a sum of money for a set period of time, you can earn guaranteed returns. Regular interest payout options, which can be used as an income, are also available from the best banks. Many individuals are interested in the monthly interest on a 3 crore FD.

On your invested amount, a fixed deposit will pay you a guaranteed interest rate. You have the option of receiving this payment at maturity or in monthly instalments. A three-crore fixed deposit is one of the greatest ways to cover your bills. You will have a stable and decent stream of income till you collect your whole interest amount if you choose to receive your interest on a 3 Crore fixed deposit on a monthly basis. Here’s how you can invest your money and get a monthly FD interest of 3 crores.

What is Monthly Interest on 3 Crore FD

The amount of interest paid each month is determined by the FD Rates. Your monthly interest income will be higher if the FD rate is higher. If you invest 3 crores in a fixed deposit account with a 6% interest rate, you will receive 1800000 per year or 150000 each month.

Eligibility Criteria for 3 Crore FD Investment

To be eligible to invest in a 3 crore FD, you must meet the following requirements:

• You must be an adult, that is, over the age of eighteen.
• A PAN card is required. Hindu Undivided Families (H.U.F.) must have their own PAN card.
• Minors under the custody of a guardian can open an FD.
• You must comply with RBI-mandated KYC criteria, which include identity verification, age verification, and address verification, among other things.

Documents Required for Investing in 3 Crore FD

For a 3 Crore Fixed Deposit, you must submit the following documents:

• Identity: Passport, PAN card, Voter ID card, Driving licence, Government ID card, Photo ration card are all acceptable as proof of identification.
• Address: Passport, phone bill, the electricity bill, bank statement with cheque are all acceptable as proof of address.
• Signature: Senior Citizens must provide signature proof in the form of a passport, PAN card, or driver’s licence.
• Senior Citizen: If you’re a senior citizen, you’ll need to provide additional documentation, such as proof of age, Form 15 H, and so on, in order to invest in a 1 Crore FD.

Tax on 3 Crore FD Interest

The interest money earned on 3 Crore FD is fully taxable. It’s reported under the heading ‘Income from Other Sources’ on your tax return. The bank will not collect any TDS if the total interest income from all FDs with the bank (across all branches) is less than Rs 40,000. If the interest income from an FD with a bank reaches Rs 40,000, there would be a 10% TDS deduction. You do not have to pay taxes on your 1 Crore FD interest income if your overall income is less than the minimum taxable amount. If the interest income from an FD reaches Rs 40,000, however, there would be a 10% TDS deduction. To guarantee that TDS is not deducted, you must submit Form 15G and Form 15H to the bank at the start of each financial year.