What is the interest on 5 lakhs?
How much monthly income: At an interest rate of 7 per cent, on a principal amount of Rs 5 lakh, the total interest comes to Rs 1,73,983, which yields Rs 2,900 as the monthly interest amount..
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.
How do you calculate monthly interest rate in rupees?
If you are entering the tenure in months, then the formula will be:(P x r x t) ÷ (100 x 12) … Example 1: If you invest Rs.50,000 in a fixed deposit account for a period of 1 year at an interest rate of 8%, then the simple interest earned will be:More items…
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 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 get 6 lakh loan?
6 lakh Personal Loan, follow these simple steps mentioned below:Enter your employment, financial, and personal information.Select the loan amount and repayment tenor to avail the funding rapidly.Submit the required documents with our representative, who will get in touch with you.More items…