What is 1 lakh fixed deposit interest per month in Bandhan Bank?
It is easy to calculate 1 lakh fixed deposit interest per month in Bandhan Bank. You can calculate the interest receivable using this formula: Monthly Interest = Annual Interest Rate × Principal / 12 × 100.
So, annual interest rate is 7.20% for general citizens and 7.70% for senior citizens as of now.
Since principal amount is Rs. 1 lakh, the calculation would be as follows:
For General citizens
Monthly interest = 7.20×100000/12×100 = ₹600
For Senior Citizens
Monthly interest = 7.70×100000/12×100 = ₹642
Hope this helps.