Does FD pay monthly interest?

Yes, Fixed Deposits (FDs) offer monthly interest payouts. The non-cumulative FD scheme provides an option to get payouts credited to your account each month. However, it's worth noting that the interest rate for monthly payouts might be marginally lower compared to annual or at-maturity options. Opting for monthly interest is beneficial for those who require a regular cash flow and prefer not to wait until the FD matures.