Sundaram Finance Limited has increased the interest on FDs of all tenors. 10,000 and interest rates on current deposits remain fixed till maturity. The company has increased the annual interest rate on non-cumulative deposits maturing in 12 to 24 months to 7.15% annually, 6.93% monthly and 6.97% quarterly.
New Delhi. Non-banking finance company Sundaram Finance Limited has increased its deposit interest rates starting from November 16, 2022. The company has increased the interest on FDs of all periods. 10,000 and interest rates on current deposits remain fixed till maturity. ICRA and CRISIL have assigned the highest credit quality rating “AAA” to Fixed Deposits of the company for the last 30 years.
The company has increased the annual interest rate on non-cumulative deposits maturing in 12 to 24 months to 7.15% annually, 6.93% monthly and 6.97% quarterly. On non-cumulative FDs maturing in a period of 36 months, the company has made the interest rate 7.30% annually, 7.07% monthly and 7.11% quarterly. The company has increased the annual interest rate for senior citizens to 7.50% annually, 7.25% monthly and 7.30% quarterly on non-cumulative deposits maturing in 12 to 24 months.
Interest rates increased on different periods
At the same time, on non-cumulative fixed deposits maturing in 36 months, the company has increased the interest rate for senior citizens to 7.80% annually, 7.53% monthly and 7.58% quarterly. On non-cumulative FDs, customers can earn interest at monthly/quarterly (March, June, September, December) intervals.
Interest is payable on maturity along with the principal on the cumulative FD. The company has raised the annual interest rate to 7.15% on cumulative deposits maturing in 12 to 24 months, to 7.30% on those maturing in 36 months. On cumulative deposits maturing in 12 to 24 months, the company has increased the annual interest rate to 7.50% for senior citizens and 7.80% for 36 months deposits.
Senior citizens will get an additional 0.5% interest annually on these deposit schemes. Sundaram Finance Limited offers a wide range of financial services including Mutual Funds, Housing Finance, General Insurance, IT, Business Process Outsourcing and Retail Distribution.
