Money paid for investment for fixed deposit in ICICI bank ₹5,00,020
Journal entry please
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On the other hand, the monthly interest for ₹5 lakh in a bank FD usually ranges from 2.9% - 5.15% per annum. If you opt for a non-cumulative, 12-month bank FD at an interest rate of 5.15%, it will fetch you ₹2,145.83 as interest on ₹5 lakh per month.
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