HI All, I have a confusion about the fixed deposit calculations. Could anyone please clarify the same for me. Lets assume I have 20 Lakhs cash with me at the moment.So I am going for a FD for 10 years here is how the maturity amount would look like as per some online website with FD calculators show me
Principal Invested in FD – 2000000 After Maturity 10 years(Max FD period) @ 9.0 intrest rate
Total Maturity Amount – 4870378
Total Intrest Payable is – 2870378
Note: I wanted to know if this calculations are right and if yes then is there any TAX amount that i would have to pay for the FD\’s or after the maturity is done. Awaiting a reply. Thanks.