Question: What Is The Interest Of 10 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 much interest will 5 lakhs earn?

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 can I do with 5 lakhs?

What is the best way to invest Rs 5 Lakh in India?Fixed deposit: For low risk investment a fixed deposit in Indian Banks or NBFCs is very good and safe option for investment which offers you anywhere between 6-9% interest per annum, depending on institute and scheme. … Post Office Monthly Income Scheme (POMIS): … Mutual funds: … Equity markets: … Real estate:

How can I become a Crorepati?

How to be a Crorepati in 10 years?Consider your Finances before investing.Carefully choose a Financial Planner.Manage expenses wisely to create more savings.Stay Informed, Stay Focused, Stay Disciplined and be Patient.Make Planned Investments in the Right Schemes.

How can I double my money in bank?

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…

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.

What is the interest of 50000 in SBI?

SBI Fixed Deposit Interest RatesSBIRs 50,000Rs 1,50,000Post OfficeRs 50,000Rs 1,50,0001-yearRs 53593RS 1607792-yearRs 57186Rs 1715585-yearRs 69813Rs 2094394 more rows•Sep 11, 2019

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.

Which SBI FD is best?

The highest FD rate is 6.10% per annum for non-senior citizen investors and 6.60% per year for senior citizen investors.

Can I get a loan of 1 lakh?

Looking for 1 lakh of personal loan. Want to calculate emi for loan amount….1 Lakh Personal Loan Interest Rates 2020.BanksInterest RatesICICI Bank11.70 – 18.85%Bajaj Finserv11.99 – 16.00%Fullerton India14.00 – 33.00%Kotak Mahindra11.50 – 20.00%3 more rows

How can I invest 5 lakhs wisely?

5 Best Options For Those Looking To Invest Upto Rs 5 LakhsShares of Coal India. This is a suggestion that may come as a little bit of a surprise. … Fixed Deposits of Mahindra and Mahindra. The fixed deposits of Mahindra and Mahindra offer a good interest rate. … IDFC First Bank. … Bajaj Finserv Fixed Deposits. … Shriram Transport Finance.

Which bank is best for monthly interest?

Interest rates on Monthly Income FD SchemesTop banks monthly income FD interest rates for senior citizensBankInterest rateTenure rangeUnion Bank of India4.50%181 days to less than 1 yearFederal Bank5.25%271 days to less than 1 yearKotak Mahindra Bank5.25%365 days to 389 days1 more row

How can I invest 10 lakhs wisely?

Have you invested your ₹10 lakhs in these 10 ways?10 things to do with 10 lakhs. 1.Emergency funds. 2.Short-term funds. ELSS funds. 4.High growth funds. Its all about gold. 7.Mediclaim. 8.Term Insurance policy. Pay off your high-cost debt. 10.Retirement planning.Conclusion.

What is the interest rate in SBI bank?

SBI Bank FD RateTenureGeneral Public FD RateSenior Citizens FD Rate211 days – upto 1 yr4.40%4.90%1 yr – upto 2 yrs5.10%5.60%2 yrs – upto 3 yrs5.10%5.60%3 yrs – upto 5 yrs5.30%5.80%4 more rows

How much interest will I get for 10 lakhs?

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

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.

What is the interest of 1 lakh?

Going forward, from November 1, 2019, the interest rate on savings bank deposits with balances up to Rs 1 lakh will be 3.25 per cent. This, according to SBI, is in view of the adequate liquidity in the system. The interest rates on fixed deposits (FDs) have been reduced by the State Bank of India (SBI).