How much interest will I get if I deposit 10 lakh?
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How much interest will I get if I deposit 10 lakh?
The monthly interest for 1 lakh fixed deposit is Rs….Monthly Interest for Senior Citizens:
| Investment amount | Monthly interest for Senior Citizens | Commutative interest for 5 years |
|---|---|---|
| 1 lakh | Rs. 546 | Rs. 38,624 |
| 5 lakh | Rs.2,729 | Rs. 1,931,122 |
| 10 lakh | Rs.5458 | Rs.3,86,243 |
| 15 lakh | Rs. 8,187 | Rs.5.79,365 |
What is the interest of 10 lakh in SBI?
State Bank of India FD Returns Based on Investment Amount
| Investment Amount | For 3 years with interest of 5.3\% | For 5 years with interest of 5.4\% |
|---|---|---|
| ₹ 1 lakh | ₹130267 | ₹130917 |
| ₹ 2 lakh | ₹260534 | ₹261834 |
| ₹ 5 lakh | ₹651335 | ₹654586 |
| ₹ 10 lakh | ₹1302671 | ₹1309171 |
How do I get a high interest rate?
Special Fixed Deposits – To earn a higher interest rate, you should go for special fixed deposits. It is possible to take a loan on fixed deposits. You can take a loan to the extent of 90\% of the principal. The rate of interest on the loan will be 1\% to 2\% higher than the interest paid on the fixed deposit.
How much interest does bank give on FD?
Best 5 Year FD Interest Rates
| Name of Bank | For General Citizens (p.a.) | For Senior Citizens (p.a) |
|---|---|---|
| Union Bank of India | 5.40\% | 5.90\% |
| Canara Bank | 5.25\% | 5.75\% |
| Axis Bank | 5.40\% | 6.05\% |
| State Bank of India | 5.30\% | 5.80\% |
How much will 10 lakhs deposit in FD earn you?
The standard tenure for FD’s is 1 year and a deposit of Rs. 10 lakhs will fetch you as follows: Taking interest rate of RBL at 8\% interest rate compounded quarterly, you will get Rs. 82,400 per year. From this amount a TDS of 10\% is deducted if you submit a pan card and if Pan card is not submitted then 20\%.
How can I earn 10 lakhs in interest in 1 year?
If you invest Rs. 10lakhs for one year in a bank at a rate of interest of 6.75\%, then you will get Rs. 1069228. That means Rs. 69K will be the interest amount that will be gained within 1 year. Try to collect the interest in a yearly basis or at the end of the tenure. You should actually try in an NBFC rather than in a bank.
How to calculate interest on fixed deposit of Rs 40 lakh?
To calculate interest on your fixed deposit of Rs. 40 lakh you can simply use the FD calculator by Bajaj Finance. Rate of interest gives values as per the tenor chose. Interest rates range from 7.60-8.95\% After which, the FD calculator will provide the principal amount, maturity amount and the interest earned.
What is the FD tenure of 10 lakhs?
The standard tenure for FD’s is 1 year and a deposit of Rs. 10 lakhs will fetch you as follows: Do you want risk free (no loss of capital) Rs. 4807 per month or Rs. 6667 per month or Rs. 9000 per month? The choice is yours. With the RBI reducing the interest rate by another 25 bps, the FD rates are expected to go down further.