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How do I calculate my fixed deposit?

How do I calculate my fixed deposit?

This method is an easy one. It is calculated by multiplying the principal, rate of interest and the time period. The formula for Simple Interest (SI) is “principal x rate of interest x time period divided by 100” or (P x Rx T/100).

What is the interest of 10 lakh FD?

Monthly Interest for ₹10 Lakh FD

Bank Interest Rate on Rs. 10 Lakh Rs. 10 Lakh FD Interest Per Month
SBI 2.90% to 5.50% Rs. 2417 to Rs. 4583
HDFC Bank 2.50% to 5.60% Rs. 2083 to Rs. 4667
Axis Bank 2.50% to 5.75% Rs. 2083 to Rs. 4792
IDFC Bank 2.50% to 6.00% Rs. 2083 to Rs. 5000

Which bank is best for fixed deposit in India?

Best FD Rates in India among Top 10 Banks

  • IDFC First Bank offers the highest FD interest rate of 6.25% p.a. which is for a tenure of 5 years and above for the general public.
  • The second highest interest rate is 5.75% p.a. which is offered by Axis Bank and HDFC Bank for a tenure of 5 years and above.

How can I get my monthly income from FD?

Fixed Deposit Monthly Income Option. ICICI Bank FD Income offers regular monthly income, for your choice of tenure with an option of receiving some amount as lump sum. A simple Fixed Deposit (FD) plan, which offers fixed regular monthly income in future by investing a lump sum amount today.

What is the monthly interest on 50 lakhs?

Senior Citizens

Tenor (months) Interest Rates of FD Total Interest Amount for Rs.50 Lakh
15 6.25% Rs. 3,93,630
18 6.35% Rs. 4,83,732
22 6.50% Rs. 6,11,913
30 6.75% Rs. 8,86,941

How can I make 50 lakhs in 5 years?

50 lakhs in five years….

  1. Parag Parikh Long Term Equity Fund.
  2. Mirae Asset India Equity Fund.
  3. Axis Focused 25 Fund.
  4. Axis Bluechip Fund.
  5. ICICI Prudential Bluechip Fund.
  6. ICICI Prudential Nifty Next 50 Index Fund.
  7. Franklin India Low Duration Fund.
  8. Franklin India Ultra-Short Bond Fund.

How much should I invest to get 50000 per month?

Now, let’s see how much corpus would be needed to get Rs 50,000 monthly or Rs 6 lakh annually by investing the amount in FD. Assuming that the average current FD rate of 7 per cent per annum would remain constant, to get Rs 6 lakh annually, the lump sum amount to be invested is about Rs 85,71,500.

How can I make 2 lakhs in a month?

This is how you can earn ₹ 2 lakhs per month in India.

  1. Become a mobile app developer.
  2. Become a freelancer/consultant.
  3. Online selling (through Amazon or your own website) – People nowadays sell stuff through even WhatsApp.
  4. Become a blogger.
  5. Start your Youtube channel.
  6. Start affiliate marketing.
  7. Domain buy and sell.

What can I do with 2 lakh rupees?

5 Best Investment Plans in India 2020 Between Rs 1 – 2 Lakhs

  1. Public Provident Fund.
  2. National Savings Certificates (VIII Issue) Account.
  3. Fixed Deposits in Banks.
  4. Mutual Funds.
  5. National Savings Time Deposit Account.
  • October 4, 2022

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