Quick Answer: What Is The Interest Of 50000 In SBI?

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.

Is SBI safe for fixed deposit?

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.

What is the interest rate in State Bank of India?

SBI FD RatesTenureFD Interest Rates for General CitizensFD Interest Rates for Senior Citizens46 days – 179 days3.90%4.40%180 days – 210 days4.40%4.90%211 days – 364 days4.40%4.90%1 year – 1 year 364 days4.90%5.40%4 more rows•Oct 7, 2020

What is the interest of 2 lakh in SBI?

Highest interest rate offered by SBI is 5.40% for deposit amount below Rs.

How much interest will 5 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

What is Monthly Income Scheme in SBI?

FD Monthly Income Scheme A monthly income FD is the term deposit where the interest earned is credited directly to the investors account per month. An individual can choose to invest in this plan for a tenure of 1 year to 10 years. It provides the option of premature withdrawal, overdraft facility and loan against FD.

What is the interest of 1 lakh in SBI?

Interest rate on SBI savings bank deposits 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.

Which bank FD is best?

Best FD Interest Rates in IndiaFD TenureHighest FD RateBanks with highest FD rate1 year FD7.00%IndusInd Bank2 year FD7.00%IndusInd Bank, Jana Small Finance Bank, Yes Bank3 year FD7.50%Jana Small Finance Bank5 year FD7.00%Jana Small Finance Bank

How many years FD will double in SBI bank?

SBI Fixed Deposit Reinvestment Plan – The maturity period for this plan is between 6 months and 10 years. Investors can start with a deposit of just Rs. 1,000. The interest earned through this scheme is reinvested into the same plan for higher interest generation.

Can I get monthly interest on fixed deposit in SBI?

Features & Benefits of SBI Fixed Deposit The fixed deposit scheme can be opened with a minimum of Rs 1000. … For FD schemes above Rs. 10000 offer 0.25% extra interest rate to senior citizens. It offers interest payment option on a monthly/quarterly/calendar quarter basis.

What is the interest of 10 lakh 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.

Can I deposit 5 lakhs in my account?

Individuals who deposit cash above Rs. 2.5 lakh and senior citizens who deposit cash above Rs. 5 lakh may be scrutinised. Any amount within the specified limit will be excluded from scrutiny considering that the money is from household savings, cash withdrawals, earlier income, and so on.

What is the EMI for 10 lakhs personal loan?

Personal Loan EMI Calculator:PERIODRATE OF INTERESTCALCULATED EMI24 months15%48,487/-32 months11.99%36,666/-48 months20%30,430/-

Which is better MIS or FD?

MIS is best suited for conservative investors, say experts. While fixed deposit has always been the preferred choice for many investors, MIS at this point is offering higher interest rate than most bank fixed deposits FDs. Lately, several banks have reduced their FD rates in tandem with RBI’s repo rate cut.

How do banks earn monthly interest?

Bank Fixed Deposits or Bank FDs. … Post Office Monthly Income Scheme or Post Office MIS.The Monthly Income Scheme (MIS) offered by Department of Posts currently offers an interest rate of 7.3 per cent per annum, payable monthly. … Pradhan Mantri Vaya Vandana Yojana (PMVVY) … Senior Citizen Savings Scheme.More items…•