Yes, you can withdraw the interest of Fixed Deposit on a monthly basis.

When you invest your money in FD, you get interest on your principal amount.

If you invest in Non-Cumulative Fixed Deposit, along with the principal amount and investment tenor, you will be able to choose interest payment frequency.

## Which bank gives monthly interest on fixed deposit?

Interest Rates on FD Offered by Indian Banks:

Name of the bank | Regular Interest Rates | Minimum Limit for Deposit |
---|---|---|

ICICI Bank | 7.00 | Rs.1,000 |

City Union Bank | 7.10 | Rs.100 |

Axis Bank | 7.10 | Rs.5,000 |

YES Bank | 7.10 | Rs.10,000 |

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## How do banks calculate monthly interest?

Example: assume you pay interest monthly at 10 percent per year.

Divide By 12

- For a daily interest rate, divide the annual rate by 360 (or 365, depending on your bank).
- For a quarterly rate, divide the annual rate by four.
- For a weekly rate, divide the annual rate by 52.

## Can we get monthly interest on fixed deposits in SBI?

Interest is compounded quarterly on the balance outstanding at the month-end. Premature withdrawal is allowed and the applicable SBI fixed deposit rates will be 0.50% lower than the rate applicable for the period the deposit has remained in the bank. Nomination facility and loan facility is available under the scheme.

## How is FD interest calculated?

FD Calculation Formula:

This is A = P (1 + r/4/100) ^ (4*n) and A = P (1 + r/25)4n. Suppose you are investing Rs.1,00,000 in a fixed deposit for a tenor of 3 years at an interest rate of 10%. All you have to do is enter your investment amount and tenor, which helps you calculate the amount receivable on maturity.