What is 1 lakh fixed deposit interest per month in Shivalik SF Bank?
It is easy to calculate 1 lakh fixed deposit interest per month in Shivalik SF Bank. You can calculate the interest receivable using this formula: Monthly Interest = Annual Interest Rate × Principal / 12 × 100.
So, annual interest rate is 7.30% for general citizens and 7.80% for senior citizens as of now.
Since principal amount is Rs. 1 lakh, the calculation would be as follows:
For General citizens
Monthly interest = 7.30×100000/12×100 = ₹608
For Senior Citizens
Monthly interest = 7.80×100000/12×100 = ₹650
Hope this helps.