How Much Interest Will 5 Lakhs Earn?

Which bank FD is best?

Fixed Deposit Interest Rates of Top 10 Banks in India for below Rs.

2 croreName of BankFor General Citizens (p.a)For Senior Citizens (p.a)Bank of Baroda2.90% to 5.30%3.40% to 6.30%IDFC Bank3.00% to 7.00%4.00% to 7.50%Bank of India3.25% to 5.25%3.75% to 5.75%Corporation Bank3.50% to 5.45%4.00% to 5.95%6 more rows.

What is the interest of 1 lakh in post office?

SynopsisInstrumentInterest rate (%) from 01.10.2020Max amt (Rs)Time Deposit#5.50-6.70No limitPost Office Monthly Income Scheme6.60Single: 4.50 lakhPost Office Monthly Income Scheme6.60Joint: 9 lakhKisan Vikas Patra6.90No limit6 more rows•4 days ago

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.

What is the monthly interest on 50 lakhs?

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 in HDFC Bank?

HDFC Bank Fixed Deposit Calculator 2020TenureRatesMaturity Amount for ₹ 1 Lakh1 year5.10% to 5.60%₹ 1,05,198 – ₹ 1,05,7191 year 1 day to 2 years5.10% to 5.60%₹ 1,05,213 – ₹ 1,11,7642 years 1 day to 3 years5.15% to 5.65%₹ 1,10,792 – ₹ 1,18,3313 years 1 day to 5 years5.30% to 5.80%₹ 1,17,128 – ₹ 1,33,3658 more rows•Sep 23, 2020

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 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…•

Is 50 lakhs enough for retirement?

So, how about a simple plan, that has no risk and can help you easily retire at 40 with a fund of over Rs 50 lakh (5 million)? … If you start working at the age of 25 and your annual salary is, say, Rs 6-7 lakh, it won’t be very difficult to save Rs 16,000-17,000 per month (around Rs 2 lakh, or 1/3rd of your salary).

Can I get a loan of 1 lakh?

1 Lakh Loan. Fulfil all your short-term financial goals with Rs. … 1 lakh amount. You can select a flexible repayment tenor ranging up to 60 months to repay the loan with ease.

What is the interest of 5 lakh in SBI?

SBI Fixed Deposit Calculator 2020. SBI FDs have tenures ranging from 5 years to 10 years with maximum rate of interest of 5.40%. Interest rates for senior citizens are higher than the normal rates and ranges upto 6.20%. N.A.

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.

Can I deposit 50 lakhs in my account?

Deposits in Current Accounts : Cash deposits or withdrawals aggregating to Rs 50 lakh or more in a financial year in one or more Current Account of a person will have to be reported by the bank to the I-T authorities. … (ii) Rs 2.5 Lakh or more, in one or more accounts (other than a current account) of a person.