Fixed Deposit Calculator with Monthly Payouts – Estimate Monthly Interest
The Fixed Deposit Calculator with Monthly Payouts is an easy-to-use tool that helps you estimate the interest you will earn each month and the maturity value of your FD investment. Monthly payout FDs are perfect for individuals who want regular cash flow, such as pensioners, freelancers, or anyone looking for passive income.
What is a Monthly Payout FD?
A monthly payout fixed deposit pays the interest you earn on your deposit every month, while the principal remains locked until maturity. This type of FD provides stable monthly income, making it ideal for managing routine expenses.
How the FD Calculator with Monthly Payouts Works
Simply enter the following details into the calculator:
- Principal Amount (e.g., ₹1,00,000)
- Tenure (e.g., 1 to 10 years)
- Annual Interest Rate (e.g., 6.5%)
- Payout Frequency: Monthly
The calculator will instantly show you:
- Monthly Interest Payout
- Total Interest Earned Over Tenure
- Principal Amount Returned on Maturity
Example Calculation
Invest ₹2,00,000 for 3 years at an annual interest rate of 6.5% with monthly payouts:
- Monthly Interest: ₹1,083.33
- Total Interest Over 3 Years: ₹38,999.88
- Maturity Amount: ₹2,00,000 (principal only)
Advantages of Monthly Payout FDs
- Steady monthly income to manage expenses
- Low-risk with guaranteed returns
- Ideal for senior citizens and retired individuals
- Better cash flow management
Taxation on FD Monthly Interest
Interest income is added to your taxable income. TDS is applicable if total interest exceeds ₹40,000 (₹50,000 for senior citizens) in a financial year. You can avoid TDS by submitting Form 15G/15H, if eligible.
Conclusion
The Fixed Deposit Calculator with Monthly Payouts simplifies your financial planning by giving a clear estimate of your monthly earnings and total returns. It’s an essential tool for investors who want regular and reliable income from their FD investments.