Question: How Much Interest Will I Get For 30 Lakhs?

How much amount of FD interest is tax free?

Senior citizens receiving interest income from FDs, savings account and recurring deposits can avail income tax deduction of up to Rs 50,000 annually.

This is by way of an amendment vide Finance Act 2018..

Which bank FD is best?

IndusInd BankIndusInd Bank is the topmost bank for 1 year FD as it offers the highest interest rate of 7.00% on deposits of this tenure….Banks Providing Best FD rates for 1-year Tenure.1 Year FD RateBanks with this rate7.00%IndusInd Bank6.90%Jana Small Finance Bank6.75%Dena Bank6.75%RBL Bank1 more row•Dec 16, 2020

How do you write 1 crore 30 lakhs in numbers?

1,30,00,000 As you can see, 1 crore and 30 lakh is the same as 13 million.

How do you write 1 crore 50 lakhs in numbers?

Similarly,10 million (as per the international digit system) or the one crore have 7 zeros (0) in it’s numerical value. To write the 1 crore 50 lakhs in numerical form we just have to replace the first zero with a five, because 50 lakhs is the exact half value of 1 crore. So the numerical value will be; 15000000.

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 6.95%, then the number of years in which your FD will get doubled is 72/6.95= 10.36. Thus, it will take 10 years for your FD to get doubled.

How do you write 5 lakhs?

Let’s take a 6-digit number 5,46,783. According to the Indian place value system, it is written as Five lakh, forty-six thousand, seven hundred and eighty-three.

How much interest do we get per month for 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.

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 do you write 30 lakhs in numbers?

Did you notice how the Indian number system from right to left starts with three digits followed by a comma, but then larger numbers are in intervals of 2 digits? Below it is displayed in intervals of 3 digits like they do in America. As you can see, 30 lakh is the same as 3 million.

How much interest will 2 crore rupees earn?

Synopsis. To earn an income of Rs 2 lakh per month or Rs 24 lakh per annum from the corpus of Rs 2 crore, you must return of 12 per cent. However, there is no fixed income instrument that can currently offer you such rate of return.

Which is better Bank FD or Post Office FD?

Five-year post office deposit is offering 6.7 per cent whereas SBI’s five-year FD is offering 5.40 per cent. … The effective interest rate for senior citizen bank FDs is as follows: SBI one-year FD is 5.40 per cent, HDFC Bank one-year FD is 5.60 per cent and ICICI Bank one-year FD is 5.50 per cent.

How can I double my money in 5 years?

Rule of 72: Divide 72 by the Expected Annual Returns Since you want to double your money in 5 years, your investments will need to grow at around 14.4% per year (72/5). Or if your goal is to double in 10 years, you should invest in a manner to earn around 7.2% every year.