What is the monthly income of FD?
Fixed Deposit (FD) doesn’t usually give you a monthly income by default, it depends on the option you choose. If you pick the monthly payout option while opening an FD, the bank will give you interest every month.
For example, if you invest ₹1 lakh at 7% annual interest, you’ll get around ₹583 every month (7% of ₹1 lakh is ₹7,000 per year, which becomes about ₹583 per month).
But if you don’t choose this option, the bank will pay you the full interest only at the end of the FD term, not monthly. So, monthly income from FD is possible, but only if you select the monthly interest payout option.