What is 1 lakh fixed deposit interest per month in ICICI?
It is easy to calculate 1 lakh fixed deposit interest per month in ICICI. You can calculate the interest receivable using this formula: Monthly Interest = Annual Interest Rate × Principal / 12 × 100.
So, annual interest rate is 6.60% for general citizens and 7.10% for senior citizens as of now.
Since principal amount is Rs. 1 lakh, the calculation would be as follows:
For General citizens
Monthly interest = 6.60×100000/12×100 = ₹550
For Senior Citizens
Monthly interest = 7.10×100000/12×100 = ₹592
Hope this helps.