Quick Answer: What Is The Interest Of 1 Lakh In SBI?

Which bank FD is best?

Best FD Interest Rates in IndiaFD TenureHighest FD RateBanks with highest FD rate1 year FD7.00%IndusInd Bank, Yes Bank2 year FD7.10%Equitas Small Finance Bank3 year FD7.50%Jana Small Finance Bank5 year FD7.00%Jana Small Finance Bank.

How can I earn 50000 per month?

earn 30000 to 50000 per month without any investment JobsAuto detailing/ Auto Upholstery.E-Rickshaw Driver.Livein maid.food packaging.Anchor. News Editor. Reporter/Sub Editor.Retired Military Personnel.Abacus.

What is the EMI for 10 lakhs personal loan?

Personal Loan EMI Calculator:PERIODRATE OF INTERESTCALCULATED EMI24 months15%48,487/-32 months11.99%36,666/-48 months20%30,430/-

What is the interest on 5 lakhs?

Additionally, if a bank is having an interest rate of 7.25 per cent per annum, (Discounted Rate of Interest of 7.21 per cent), then on a principal amount of Rs 5 lakh, the total interest comes to Rs 1,80,322, which yields Rs 3,005 as the monthly interest amount.

What is the interest of 1 lakh?

Currently, the interest rate on savings bank deposits on balance up to Rs 1 lakh is 3.5 per cent. On balance above Rs 1 lakh, the interest rate is 3 per cent per annum, which is set at 2.75 per cent below RBI’s Repo Rate, with a minimum of 3 per cent for the entire balance.

How much interest will 10 lakhs earn?

Formula of Calculation of EMILoan amountInterest RateEMI per month5 Lakh8.35%Rs. 6,15910 Lakh8.50%Rs. 9,84715 Lakh8.60%Rs. 13,11220 Lakh8.70%Rs. 17,610

Can I get a loan of 1 lakh?

1 lakh personal loan from Bajaj Finserv. Enjoy instant approval and disbursal within only 24 hours, hassle-free application process and easy to meet eligibility criteria for instant financing. … 1 lakh amount. You can select a flexible repayment tenor ranging up to 60 months to repay the loan with ease.

Is SBI bank safe for FD?

Now small banks, new banks and some NBFCs offer higher interest rates on FDs to customers as compared to other top banks like State Bank of India (SBI), HDFC Bank, ICICI Bank, etc. to name a few. … So your bank Fixed Deposits (FDs) are safe.

Can I double my money in 5 years?

To get your money doubled in five years, the CAGR needed will be nearly 15 per cent (more preciously 14.87 per cent). However, there is no guaranteed-return product that offers such a high rate of return and the only possible way to achieve this is by taking risk.

What is the interest of 1 lakh in post office?

InstrumentInterest rate (%) from October 1, 2020Max amt (Rs)Post Office Monthly Income Scheme6.6Single: 4.50 lakhPost Office Monthly Income Scheme6.6Joint: 9 lakhKisan Vikas Patra6.9No limitRecurring Deposits5.8No limit6 more rows

Which type of FD is best in SBI?

SBI Fixed Deposits for Senior Citizens For tenure of 1 year to 5 years, one can avail the highest FD interest rates SBI of 6.20% per annum on Senior citizen SBI FD. For an investment period of 211 days to less than 2 years, the account holder can avail a 4.90% to 5.60% interest rate on FD in SBI per annum.

Is FD tax free?

The interest earned under an FD is taxable under “income from other sources”. The amount invested under 80C of the Income Tax Act is exempt but interest earned under such investments is taxable. … It means if the interest earned from a company deposit exceeds ₹ 5,000, the investor is liable for a TDS it.

How can I earn 50 lakhs in 15 years?

My suggestion to you would be to direct the money into a nifty index fund like HDFC Index Fund Nifty 50 Plan and Mirae Asset Large Cap Fund. At an expected return of 12 per cent per annum, your monthly investment of Rs 10,000 would help you to create Rs 50 lakh, not accounting for income tax, in 15 years.

How can I earn 50 lakhs in 5 years?

How Can You make Rs. 50 lakh in 5 years?1.HDFC Small Cap Fund.2.L&T Emerging Businesses Fund.Parag Parikh Long Term Equity Fund.Mirae Asset India Equity Fund.The Moderate Investor.1.Invesco India Contra Fund.Axis Focused 25 Fund.3.Principal Focused Multicap Growth Fund.More items…•

What is the interest rate of SBI per month?

For long-term deposits (5-10 years), the interest rate is 6.10% and 6.60% for non-senior and senior citizen investors, respectively….SBI FD Rates.TenureNon-senior citizen and NRO FD (%)Senior Citizen FD (%)46-179 days5.50%6.00%6-12 months5.80%6.30%1-5 years6.10%6.60%5-10 years6.10%6.60%1 more row

What is the monthly interest on 50 lakhs?

If FD interest rate is 6.5%, then you get Rs 3.25 lakh on a fixed deposit of Rs 50 lakh in a year. This means you get a monthly interest of Rs 27,083. If FD interest rate is 7%, then you get Rs 3.5 lakh on a fixed deposit of Rs 50 lakh in a year. This means you get a monthly interest of Rs 29,167.

How many years FD will double?

To know the time duration in which your FD amount will get doubled, you have to divide 72 with the highest rate. For example, if the highest rate on FD is 7.35%, then the number of years in which your FD will get doubled is 72/7.35= 9.80. Thus, it will take 10 years for your FD to get doubled.

How many years FD will double in SBI bank?

14 yearsNow applying the rule, just divide the number 72 by the rate of interest. So 72/7.35 = 9.80. So it will take a little more than 14 years for one’s investment to get doubled in SBI.

How can I double my money in India?

Here are some options to double your money:Tax-free Bonds. Initially tax- free bonds were issued only in specific periods. … Kisan Vikas Patra (KVP) … Corporate Deposits/Non-Convertible Debentures (NCD) … National Savings Certificates. … Bank Fixed Deposits. … Public Provident Fund (PPF) … Mutual Funds (MFs) … Gold ETFs.More items…

What is the monthly interest on 1 crore rupees?

If FD interest rate is 6.5%, then you get Rs 6.5 lakh on a fixed deposit of Rs 1 crore in a year. This means you get a monthly interest of Rs 54,167. If FD interest rate is 7%, then you get Rs 7 lakh on a fixed deposit of Rs 1 crore in a year. This means you get a monthly interest of Rs 58,333.

What will be the EMI for 10 lakhs home loan?

Check EMI Calculation for 10 Lakh home loan for 5, 10, 15, 20 Years or How much EMI you have to pay for 10 Lakh home loan amount per month?…EMI Calculation for 10 Lakh Home Loan amount for Various Tenure Options:Tenure OptionsEMI Per Month10 YearsRs.1213015 YearsRs.956020 YearsRs.836025 YearsRs.77202 more rows•Aug 2, 2011