{"id":24062,"date":"2023-02-16T12:12:01","date_gmt":"2023-02-16T06:42:01","guid":{"rendered":"https:\/\/carajput.com\/blog\/?p=24062"},"modified":"2025-01-16T00:23:06","modified_gmt":"2025-01-15T18:53:06","slug":"fixed-deposits","status":"publish","type":"post","link":"https:\/\/carajput.com\/blog\/fixed-deposits\/","title":{"rendered":"Easy tips to Get High Rates on Monthly Income Fixed Deposit"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_58 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Page Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69dc64e97cfcf\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #000000;color:#000000\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #000000;color:#000000\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69dc64e97cfcf\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/carajput.com\/blog\/fixed-deposits\/#Easy_tips_to_Get_High_Rates_on_Monthly_Income_Fixed_Deposits\" title=\"Easy tips to Get High Rates on Monthly Income Fixed Deposits\">Easy tips to Get High Rates on Monthly Income Fixed Deposits<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/carajput.com\/blog\/fixed-deposits\/#Investors_Should_Remember_Before_Investing_in_Fixed_Deposits\" title=\"Investors Should Remember Before Investing in Fixed Deposits\">Investors Should Remember Before Investing in Fixed Deposits<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/carajput.com\/blog\/fixed-deposits\/#Pick_the_Right_Issuer\" title=\"Pick the Right Issuer\">Pick the Right Issuer<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/carajput.com\/blog\/fixed-deposits\/#Choose_a_Large_Corpus_and_Longer_Tenure\" title=\"Choose a Large Corpus and Longer Tenure\">Choose a Large Corpus and Longer Tenure<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/carajput.com\/blog\/fixed-deposits\/#Use_an_FD_Calculator\" title=\"Use an FD Calculator\u00a0\">Use an FD Calculator\u00a0<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/carajput.com\/blog\/fixed-deposits\/#What_is_the_Market_Linked_Investment_Options_with_Income_Tax_Exemptions\" title=\"What is the Market Linked Investment Options with Income Tax Exemptions?\">What is the Market Linked Investment Options with Income Tax Exemptions?<\/a><\/li><\/ul><\/nav><\/div>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-24063\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2023\/02\/fixed-deposit.jpg\" alt=\"fixed-deposit\" width=\"863\" height=\"576\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2023\/02\/fixed-deposit.jpg 640w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2023\/02\/fixed-deposit-300x200.jpg 300w\" sizes=\"(max-width: 863px) 100vw, 863px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Easy_tips_to_Get_High_Rates_on_Monthly_Income_Fixed_Deposits\"><\/span><span style=\"color: #000080;\"><b>Easy tips to Get High Rates on Monthly Income Fixed Deposits<\/b><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">As inflation rises, equities are experiencing a downturn but interest rates on instruments like the FD are rising. In fact, this has been the trend for a couple of months as the RBI has been progressively hiking repo rates. For many leading issuers right from Bajaj Finance to Mahindra Finance and Bank of Baroda, FD rates on offers right now are some of the highest they have been in a while.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This applies to both FD types, cumulative and non-cumulative, and you can now set up an adequate secondary stream of income with the FD. As a matter of fact, with a <\/span><a href=\"https:\/\/www.bajajfinservmarkets.in\/fixed-deposit\/monthly-interest-rate-for-40-lakh-fixed-deposit.html\"><span style=\"font-weight: 400;\">\u20b940 lakh FD, interest per month<\/span><\/a><span style=\"font-weight: 400;\">, based on the tenure and rate, you can expect to get north of \u20b920,000 every month.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This is quite a notable sum, even though issuers generally offer lower interest rates for non-cumulative FDs. Thankfully, you can optimise your investment to enjoy high FD interest rates, while still getting sizable monthly payouts. To know how, read the following pointers.\u00a0<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Investors_Should_Remember_Before_Investing_in_Fixed_Deposits\"><\/span><a href=\"https:\/\/carajput.com\/archives\/investors-should-remember-before-investing-in-fds.pdf\"><span style=\"color: #000080;\"><strong>Investors Should Remember Before Investing in Fixed Deposits<\/strong><\/span><\/a><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-28278\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2023\/02\/Investors-Should-Remember-Before-Investing-in-Fixed-Deposits.--scaled.jpg\" alt=\"Investors Should Remember Before Investing in Fixed Deposits\" width=\"2560\" height=\"910\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2023\/02\/Investors-Should-Remember-Before-Investing-in-Fixed-Deposits.--scaled.jpg 2560w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2023\/02\/Investors-Should-Remember-Before-Investing-in-Fixed-Deposits.--300x107.jpg 300w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2023\/02\/Investors-Should-Remember-Before-Investing-in-Fixed-Deposits.--1024x364.jpg 1024w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2023\/02\/Investors-Should-Remember-Before-Investing-in-Fixed-Deposits.--768x273.jpg 768w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2023\/02\/Investors-Should-Remember-Before-Investing-in-Fixed-Deposits.--1536x546.jpg 1536w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2023\/02\/Investors-Should-Remember-Before-Investing-in-Fixed-Deposits.--2048x728.jpg 2048w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2023\/02\/Investors-Should-Remember-Before-Investing-in-Fixed-Deposits.--800x284.jpg 800w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Pick_the_Right_Issuer\"><\/span><span style=\"color: #000080;\"><b>Pick the Right Issuer<\/b><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">One of the crucial aspects of building your portfolio is to find out which issuer would be best suited for your goals. Checking if the issuer provides high interest rates isn\u2019t the only aspect you should be concerned with, but it is important. This is especially true if you are looking to enjoy high rates on a non-cumulative FD.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Keep in mind that generally, cumulative FDs have higher rates than their counterpart. So, if you want to get monthly payouts, you would need to pick a lender that offers a suitable rate. The easiest way to find a viable instrument is to visit an aggregator website and check the rates offered by various issuers.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Once you have a list of the top 5 options, compare the earnings using an FD calculator. While you can simply compare the rates, knowing the exact earnings down the last rupee will help you decide better.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Additionally, choose your issuer based on their safety ratings. This is particularly important when deciding on a company FD as the security of your investment is key. You can do this easily by checking the credit ratings issued by agencies like ICRA, CARE, or CRISIL.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Ideally, you should pick an issuer with high rates. This way you can rest assured that your investment capital and interest earnings are at minimal risk. The Bank of Baroda FD has been rated as AAA\/ STABLE by CRISIL and AAA(stable) by ICRA. Plus, the <\/span><a href=\"https:\/\/www.bajajfinservmarkets.in\/fixed-deposit\/bank-of-baroda.html\"><span style=\"font-weight: 400;\">Bank of Baroda FD rates<\/span><\/a><span style=\"font-weight: 400;\"> are best suited for risk-averse investors looking for steady and high returns.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Choose_a_Large_Corpus_and_Longer_Tenure\"><\/span><span style=\"color: #000080;\"><b>Choose a Large Corpus and Longer Tenure<\/b><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Choosing an FD with the goal to invest for the long haul is smart. If you opt to get monthly payouts, it can work in favour as it can supplement your income while ensuring that your corpus\u2019 value isn\u2019t eroded by inflation. In any case, the best way to get the highest interest rates on offer is to invest over a longer tenure, generally around 3 to 5 years.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This is because most issuers offer their best rates on longer tenure options. Besides the longer tenure, investing a large corpus is key to getting adequate monthly returns. As mentioned earlier, with a \u20b940 Lakhs FD, interest per month would be between \u20b920,000 and \u20b930,000, given the current rates.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">So, if you need a higher yield, you would have to invest a much larger sum. Do note that the sum you invest does not affect the interest rate you get, but it does affect your earnings. So, invest appropriately to get the most out of your FDs.\u00a0<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Use_an_FD_Calculator\"><\/span><span style=\"color: #000080;\"><b>Use an FD Calculator\u00a0<\/b><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">While you would generally use an FD calculator to precisely predict the earnings you would receive on the maturity of an FD, it can help you find the best terms too. This is because most online tools offered by issuers dynamically change the rates offered based on the tenure you pick.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">So, if you are looking to invest at the highest rates on offer, simply go to the issuer\u2019s website and use their FD calculator. Be sure to set the payout mode and enter the right investment amount. Once done, simply try different tenure options until you find one that offers you the best rate and earnings. In some cases, the issuer may not have a dedicated FD calculator, and you may have to manually check the rates table.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">When the goal is to enjoy high monthly earnings from your FD, these tips should help. In fact, it would be advisable to lock-in your funds right away as the interest rates are favourable. However, be sure to do your due diligence and forecast your earnings before investing.\u00a0<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_is_the_Market_Linked_Investment_Options_with_Income_Tax_Exemptions\"><\/span><span style=\"color: #000080;\">What is the Market Linked Investment Options with Income Tax Exemptions?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>We all have give up a portion of our earnings to the government in the form of taxes. In fact, because the Indian taxation system is progressive, higher income is taxed more than lesser income. This decreased the tax incidence on low-income individuals. In contrast, the government provides help to taxpayers through the provision of exemptions and deductions. This is done in order to encourage taxpayer investment. The following are a few tax-free market-linked investment possibilities.<\/p>\n<ul>\n<li>ELSS (Equity Linked Savings Schemes)<\/li>\n<li>NSC (National Savings Certificate)<\/li>\n<li>SSY (The Sukanya Samriddhi Yojana)<\/li>\n<li>NPS (National Pension Scheme)<\/li>\n<li>ULIP (Unit Linked Insurance Plan)<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Easy tips to Get High Rates on Monthly Income Fixed Deposits As inflation rises, equities are experiencing a downturn but interest rates on instruments like the FD are rising. In fact, this has been the trend for a couple of months as the RBI has been progressively hiking repo rates. For many leading issuers right &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[6280],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/24062"}],"collection":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/comments?post=24062"}],"version-history":[{"count":5,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/24062\/revisions"}],"predecessor-version":[{"id":28280,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/24062\/revisions\/28280"}],"wp:attachment":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/media?parent=24062"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/categories?post=24062"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/tags?post=24062"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}