Highlights
Sundaram Finance Limited has revised the interest rates on FDs of all tenors.
Senior citizens will get an additional 0.5% interest annually on these deposit schemes.
Sundaram Finance Limited is a non-banking finance company.
New Delhi. Non-banking finance company Sundaram Finance Limited has increased its deposit interest rates with effect from November 16, 2022. The company has increased the interest on FDs of all tenors. 10,000 and the interest rates on current deposits remain stable till maturity. ICRA and CRISIL have given the company’s Fixed Deposits the highest credit quality rating of “AAA” for the last 30 years.
The company has increased the annual interest rate to 7.15% p.a., 6.93% monthly and 6.97% quarterly on non-cumulative deposits maturing in 12 to 24 months. The company has reduced the interest rate on non-cumulative FDs maturing in 36 months to 7.30% annually, 7.07% monthly and 7.11% quarterly. On non-cumulative deposits maturing in 12 to 24 months, the company has increased the interest rate for senior citizens to 7.50% p.a., 7.25% monthly and 7.30% quarterly.
Also read- Before opening FD, see which banks are giving you the highest returns in 3 years
Interest rates hiked over 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 by 7.80% p.a., 7.53% monthly and 7.58% quarterly. On non-cumulative FDs, customers can earn interest at monthly/quarterly (March, June, September, December) intervals.
On cumulative FD, interest is payable on maturity along with the principal. The company has increased 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. The company has increased the annual interest rate to 7.50% for senior citizens and 7.80% for deposits of 36 months on cumulative deposits maturing in 12 to 24 months.
Senior citizens will get an additional 0.5% interest annually on these deposit schemes. Sundaram Finance Limited provides a wide variety of financial services including Mutual Funds, Housing Finance, General Insurance, IT, Business Process Outsourcing and Retail Distribution.
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Tags: business news, Fixed deposits, Investment and return
FIRST PUBLISHED : November 13, 2022, 17:14 IST
