Which investment gives monthly interest?

Post Office Monthly Income Scheme (POMIS) is an investment offered by India Post. It is an excellent investment option for risk-averse investors who are looking for constant regular income as it enjoys government-backing. The POMIS is currently offering interest at the rate of 6.6\% per annum, payable monthly.

How much monthly income is enough in India?

According to the new law, a person cannot be underpaid from the stipulated minimum salary in India. The national-level minimum salary in India is around Rs 170 per day and 4500 Rs per month. This is the minimum salary according to the reports.

Should you invest Rs 1000 a month?

If you are reading this, I am sure you’d not blink an eye investing Rs.1000 a month. The concept of compounding interest can be taken full advantage of and thankfully, it works the same for all amounts of investment. The logic is that as the time increases, you begin to earn interest on the interest as well.

How can I earn Rs 720000/80000 in 2 years?

On 50 lakh at 8\% for 2 year you get interest of Rs-800000/- By deducting income tax at the ate 10\%, You will get the total int (800000-80000) 720000/- in 2 years. Quarterly int will be (720000/8) Rs-90000/- Monthly int will be Rs-30000/- You can lead the life.

What is the rdrd interest rate for senior citizens?

RD interest rate varies across all the tenure options. Banks and other financial institutions provide a higher rate of interest to senior citizens. This may range from 0.50\% to 0.75\% additional interest on the regular deposit rates. Here, the minimum age criteria of senior citizens may vary as per the provider.

How is Rd interest calculated in India?

How is Interest on RD Calculated? Most banks that offer recurring deposits compound the interest on a quarterly basis. Banks use the following formula for RD interest calculation in India or the maturity value of RD: (Maturity value of RD; based on quarterly compounding) M =R[(1+i)n – 1]/1-(1+i) (-1/3) Where, M = Maturity value of the RD