Do you know how much return if I invest Rs.1,20,000 Fixed deposit in SBI bank?
SBI Bank offers fixed deposits with flexible tenures ranging from 7 days to 10 years. Interest rates typically range from 5-7% annually, depending on the tenure and depositor category. SBI's FDs provide secure investment options with guaranteed returns, featuring options for premature withdrawal and loan facilities against the deposit.
Sujidha Senthilkumaran
6/28/20241 min read
Do you know how much return if I invest Rs.1,20,000 Fixed deposit in SBI bank? Cash Rain!!!
FD (Fixed Deposit) is a type of investment scheme in which an individual invests a certain amount in a bank or non-banking financial institution. In FDs you can earn interest income at a pre-determined rate of interest on the amount you invest. That too SBI Bank offers countless benefits to its customers through FD schemes.
In this post, Let's look at the interest income offered by SBI for an investment of Rs.40,000, Rs.80,000, Rs. 1,20,000 and Rs. 1,50,000.
FD holders can choose how they want to receive their interest monthly, quarterly, half-yearly or annually. Since there is no loss on the principal amount invested in FDs, they are considered the best investment option among investors. And if you invest in some tax saving FDs, you can save a certain percentage of money in tax payments.
Rs. 40,000 invested for 1 year:
If you invest Rs 40,000 in FDs for 1 year, you will get Rs 42,790 at maturity. At 6.8 percent interest rate Rs. 2,790 as interest will be paid.
Rs. 80,000 invested for 1 year:
If Rs.80,000 is invested in FDs, at maturity, Rs. 85,580 available. 5,580 interest will be paid at the rate of 6.8 percent.
Rs. 1,20,000 invested for 1 year:
Also, if you invest Rs.1,20,000 in FDs, you will get a maturity amount of Rs.1,28,370. At an interest rate of 6.8 percent, an interest of Rs.8,370 will be paid.
Rs. 1,50,000 invested for 1 year:
If you invest Rs.1,50,000, you will get Rs.1,60,463 per annum at 6.8% interest rate. The interest amount will be Rs.10,463.
