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How is return on Fixed deposit calculated?

I just want to understand something. Say a bank says 12% interest on fixed deposit. They also have options for 3 months 6 months 1 yr 2/3/5 years etc. How will the interest be added on my principal amount? Like if i deposit my money in FD for 3 months @ 12% will it be the same as FD for 6 months? For example i have 10lakhs, ow how much will be my return if set it up for 3months vs 6 months vs 1/2 years. Kindly if anyone could explain it to me. Thanks in advance


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5 COMMENTS

  1. calculate the yearly interest….divide by 12 to get the monthly interest…then multiply by the number of months of your FD to get your interest amount….10lakhs ko yearly interest is 60000 at 12% so for six months you will get half of it ie 30000…..for 3 months you will get 15000

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