How to calculate 3 rupees interest for 1 lakh?

The interest you earn from your investment determines whether it is a good investment that serves your needs. The best part about investing in fixed deposits is that you can benefit from assured payouts at a fixed time. 

FDs offer interest in two ways, either at periodic intervals or at maturity. The interest you earn depends on your issuer and varies depending on numerous factors. If you are wondering if ₹3 interest for a ₹1 Lakh FD is good, you can use an FD calculator or a few formulae to decide. 

Read on to learn how to calculate ₹3 interest for a ₹1 Lakh FD and make informed investment decisions.

The method of calculating ₹3 interest for 1 Lakh per month or year in an FD is the same as that of ₹2 interest or ₹1 interest. Here are a few examples outlining the interest calculation for simple and compound interest methods.

As illustrated above, the ₹3 interest ₹1 Lakh per month in an FD would result in earnings of ₹3,000. However, it is crucial to remember that this may vary depending on the issuer you choose and other factors, including your investment terms. 

As such, you can calculate the ₹3 interest for ₹1 Lakh for various issuers and compare the earnings to choose the best option. While you can do this manually with the above formulas, the process can be tedious and time-consuming. 

You also run the risk of making errors, which can result in ill-informed investment decisions, potentially harming your financial growth. A simple alternative to this is the online FD calculator available on Bajaj Markets. 

It is a simple tool offering accurate estimates in just a few clicks. To use this calculator, you need only your investment terms. Once you enter these details, the estimates are displayed instantly. That’s not all. 

You can also easily invest in an FD from top issuers on Bajaj Markets. With a 100% online investment process, you can book your FD anytime and from anywhere.