FD interest on ₹15 lakh
How much interest does ₹15 lakh earn in an FD?
₹99,902 / year
At 6.5% compounded quarterly, like most banks. Left for 5 years, it grows to ₹20,70,630 — ₹5,70,630 of interest. A monthly-payout FD pays about ₹8,081 a month.
Open in the FD calculatorInterest earned, by rate and tenure
| Rate | 1 yr | 2 yrs | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|---|
| 6.0% | ₹92K | ₹1.9 L | ₹2.93 L | ₹5.2 L | ₹12.21 L |
| 6.5% | ₹99.9K | ₹2.06 L | ₹3.2 L | ₹5.71 L | ₹13.58 L |
| 7.0% | ₹1.08 L | ₹2.23 L | ₹3.47 L | ₹6.22 L | ₹15.02 L |
| 7.5% | ₹1.16 L | ₹2.4 L | ₹3.75 L | ₹6.75 L | ₹16.54 L |
| 8.0% | ₹1.24 L | ₹2.57 L | ₹4.02 L | ₹7.29 L | ₹18.12 L |
| 8.5% | ₹1.32 L | ₹2.75 L | ₹4.31 L | ₹7.84 L | ₹19.78 L |
Interest before tax on a cumulative FD, compounded quarterly.
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₹
₹15 lakh
%
Big banks pay about 6–6.6% now (more for seniors); small finance banks pay more
yrs
Maturity amount
₹20,70,630
₹5,70,630 interest on ₹15,00,000 at 6.5%
Principal and interest
Interest
₹5.71 L
Deposited
₹15,00,000
Interest earned
₹5,70,630
Effective yearly yield
6.66%
Growth
BalanceDeposited
Interest is taxed at your slab rate. At about ₹1,14,126 a year you’ll cross the ₹50,000 TDS limit, so the bank will deduct 10% unless you submit Form 121, which replaced Forms 15G and 15H (if your income is below the taxable limit).
Questions people ask
How much monthly interest will I get on ₹15 lakh?
With a monthly-payout FD at 6.5%, about ₹8,081 a month. That’s slightly less than a twelfth of the yearly interest: banks discount the quarterly rate to a month, because the interest is paid out instead of compounding.
Is FD interest on ₹15 lakh taxable?
Yes. It’s added to your income and taxed at your slab rate. In the 30% slab, the ₹99,902 you earn in a year is worth about ₹68,733 after tax.
Will the bank deduct TDS?
Yes. ₹99,902 a year is above the ₹50,000 limit (₹1 lakh for senior citizens), so the bank deducts 10% TDS unless you submit Form 121 (it replaced Forms 15G and 15H from April 2026), if your total income is below the taxable limit.
What do senior citizens earn?
Most banks pay seniors 0.25–0.75% more. At 7%, ₹15 lakh earns about ₹1,07,789 in the first year.