What is AAA FD?
Times have changed. You have stringent regulations around which companies can float such FDs, but remember that company FDs are unsecured. In case a company goes insolvent, depositors will be the last ones to get paid.
What is the interest rate for 1 crore fixed deposit?
As of now, the interest rate on Rs 1 crore fixed deposit range from 6.0% to 7.5% for most large banks (senior citizens get extra, generally additional 0.5% in fixed deposits in all banks).
Can I deposit 20 lakhs in bank?
cash transaction more than Rs. 10,000 for a single purpose not permissible under income tax act. your father must have to give explanation to the income tax department for depositing Rs. 20,00,000 to a savings bank account within a short period when asked for.
What is the interest of 1 lakh?
Fixed deposit payout structure in India 100 to Rs. 10,000 on the higher end. In the current Indian market, a typical monthly interest rate for 1 Lakh fixed deposit can vary from 5% to 7.5% per annum. The 1 lakh interest per month you could earn this way would be substantial.
Is FD interest paid monthly?
A Fixed Deposit is the sum of money you keep with a bank as a deposit for a fixed period of time against which the bank pays you a fixed rate of interest. The other is a non-cumulative option which is paid in the form of monthly interest or quarterly or on maturity.
How is FD calculated?
- A fixed deposit (FD) is a type of term investment offered by several banks and NBFCs.
- There are two types of FD that you may avail – simple interest FD and compound interest FD.
- M = P + (P x r x t/100), where –
- For example, if you deposit a sum of Rs.
- M= Rs.
- = Rs.
- M= P + P {(1 + i/100) t – 1}, where –
What is the interest of 1 lakh in post office?
India Post Office FDs have tenures ranging from 3 years 1 day to 5 years with maximum rate of interest of 6.70%….India Post Office Fixed Deposit Interest Calculator.
| Tenure | Rates | Maturity Amount for ₹ 1 Lakh |
|---|---|---|
| 7 days to 1 year | 5.50% to 5.50% | ₹ 1,00,105 – ₹ 1,05,614 |
Which is better Bank FD or Post Office FD?
Term deposit schemes of the post office are equivalent to bank FDs. It currently gives an interest rate of 5.5 per cent on a one-year time deposit for three years. The Post Office proposes an interest rate of 6.7 per cent on a five-year term deposit.
Can I double my money in 5 years?
Let’s apply Thumb rule in a reverse way, if you wish to double your money say in 5 years, then you will have to invest money at the rate of 72/5 = 14.40% p.a. to achieve your target. This means you have to invest money in those financial products that will give you a return at 14.40% per annum.
Is Post Office FD safe?
Fixed Deposits (FDs) are considered as one of the safest and best investments to get the best returns on your deposited money. The postal department offers many saving schemes including good interest rates on Fixed Deposits. The deposited money remains safe as the government provides security.
Is Post Office safer than bank?
Safety. Since the post office schemes are backed by the Government they are very much safe. The same cannot be said about banks. Deposits in banks are insured only up to a sum of Rs 5 lakhs only.
How much money is safe in post office?
All the post office investment schemes are tax-exempt under Section 80C, i.e. tax exemption up to Rs. 1,50,000 is allowed.
How many years FD will double in bank?
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.
Is LIC better than FD?
Fixed deposits are best for both short and medium term investments whereas life insurance plans are designed for long term investments. You can invest for a period of as low as 7 days in fixed deposits unlike a life insurance plan wherein you need to invest for at least 10 years. You can invest a minimum amount of Rs.
What is the interest of 1 lakh in SBI?
SBI Fixed Deposit Interest Calculator
| Tenure | Rates | Maturity Amount for ₹ 1 Lakh |
|---|---|---|
| 46 days to 179 days | 3.90% to 4.40% | ₹ 1,00,492 – ₹ 1,02,169 |
| 180 days to 210 days | 4.40% to 4.90% | ₹ 1,02,181 – ₹ 1,02,842 |
| 211 days to 364 days | 4.40% to 4.90% | ₹ 1,02,562 – ₹ 1,04,977 |
| 2 years to 2 years 364 days | 5.10% to 5.60% | ₹ 1,10,667 – ₹ 1,18,137 |
What is the interest of 1 lakh in HDFC Bank?
HDFC Bank FDs have tenures ranging from 5 years 1 day to 10 years with maximum rate of interest of 5.50%….HDFC Bank Fixed Deposit Interest Calculator.
| Tenure | Rates | Maturity Amount for ₹ 1 Lakh |
|---|---|---|
| 181 days to 364 days | 4.40% to 4.90% | ₹ 1,02,194 – ₹ 1,04,977 |
How many years FD will double in HDFC?
With HDFC Fixed Deposit, you can invest your money for a tenure anywhere between 7 days to 10 years and earn interest over the deposited amount. You can earn FD interest rate of 5.50% p.a. for a tenure ranging between more than 5 years and 10 years. Senior citizens enjoy an additional rate of interest of 0.50% p.a.
Is there any penalty for breaking FD in HDFC?
For such premature withdrawals, including sweep-ins and partial withdrawals, the Bank will levy a penalty of 1%, on the applicable rate. However, penalty for premature withdrawal will not be applicable for FDs booked for a tenor of 7-14 days.