What is 1 lakh fixed deposit interest per month in slice SF Bank?
It is easy to calculate 1 lakh fixed deposit interest per month in slice SF Bank. You can calculate the interest receivable using this formula: Monthly Interest = Annual Interest Rate × Principal / 12 × 100.
So, annual interest rate is 7.50% for both general and senior citizens as of now.
Since principal amount is Rs. 1 lakh, the calculation would be as follows:
Monthly interest for both the categories would be 7.50×100000/12×100 = ₹625
Hope this helps.