Quick Answer: What Is The Interest Of 1 Lakh?

How many years FD will double in HDFC?

The tenure for HDFC Fixed deposit ranges from a minimum of 7 days to a maximum of 10 years.

What are the current HDFC FD interest rates 2020.

HDFC provides a 2.50% to 5.40% interest rate on their FD schemes for general citizens and 3.00% – 6.25% for senior citizens depending on the tenure..

What is the interest on 10 lakhs in SBI?

Balances above Rs 1 lakh and up to Rs 10 lakh will fetch 6 per cent per annum. For savings account balances above Rs 10 lakh, interest rate of 6.75 per cent per annum will be applicable. Therefore, to earn the higher interest rate you will be required to maintain the balance in the savings account.

What is the interest of 1 lakh in HDFC Bank?

HDFC Bank Fixed Deposit Calculator 2020TenureRatesMaturity Amount for ₹ 1 Lakh30 days to 90 days3.00% to 3.50%₹ 1,00,247 – ₹ 1,00,86391 days to 6 months3.50% to 4.00%₹ 1,00,873 – ₹ 1,02,010181 days to 364 days4.40% to 4.90%₹ 1,02,194 – ₹ 1,04,9771 year4.90% to 5.40%₹ 1,04,991 – ₹ 1,05,5106 more rows

Which type of FD is best?

Corporate Fixed Deposit schemes offer higher returns on your investment, but choosing the right company is imperative. If you choose a good Company FD scheme, you will generally earn more on your investment than bank FDs as these schemes offer the highest interest rate on FD.

Which bank is safe for FD?

To get the benefit of high rates, both SBI Bank and ICICI bank have a new FD scheme exclusively for senior citizens. The bank fixed deposits are becoming the first choice of depositors to keep their savings safe.

Is Post Office FD safe?

However, post office term deposits are totally risk-free as they are backed by the government. Bank FDs are insured only up to R1 lakh. … If you are looking for a safe investment, bank FDs are suitable for you.

How do you calculate the interest rate?

Simple Interest Formulas and Calculations:Calculate Total Amount Accrued (Principal + Interest), solve for A. A = P(1 + rt)Calculate Principal Amount, solve for P. P = A / (1 + rt)Calculate rate of interest in decimal, solve for r. r = (1/t)(A/P – 1)Calculate rate of interest in percent. … Calculate time, solve for t.

Can I get monthly interest on FD?

Yes. You can get a monthly interest payout, if you choose periodic payouts, and select monthly frequency. When you invest your money in FDs, you gain interest on your principal amount, which can be obtained periodically.

What is the interest rate for FD in 1lakh?

The FD interest rate offered by financial institutions in the country ranges from 4% to 9%. These rates vary, depending on the tenor of the investment. The maximum amount which can be locked in the fixed deposit scheme lies at the discretion of the financial institution.

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

How much interest will I get for 30 lakhs?

You should split the Rs 30 lakh between a mix of government-backed schemes, mutual funds and corporate fixed deposits. Park Rs 4.5 lakh in a Post Office Monthly Income Scheme. This will earn you a 7.6 percent interest per annum, payable monthly.

Which bank has highest FD rate?

Best Fixed Deposit Rates & Promotions in SG, Nov 2020BankInterest Rate (Per Annum)Minimum PlacementCitibank1%S$50,000Hong Leong Finance0.70%S$20,000ICBC0.75%S$500UOB0.55%S$20,0003 more rows

Which bank FD rate is high 2020?

Fixed Deposit Interest Rates 2020BanksFD Interest RatesTenureHDFC2.50% – 5.50%7 days to 10 yearsPNB Housing Finance6.20% – 6.70%12 months to 120 monthsICICI Bank2.50% – 5.50%7 days to 10 yearsAxis Bank2.50% – 5.50%7 days to 10 years3 more rows•Nov 20, 2020

How much interest will 1 lakh earn per month?

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.

What is maturity amount?

Maturity value is the amount payable to an investor at the end of a debt instrument’s holding period (maturity date). For most bonds, the maturity value is the face amount of the bond. For some certificates of deposit (CD) and other investments, all of the interest is paid at maturity.