Sundaram Finance hikes deposit rates

Sundaram Finance has announced a hike in interest rates (between 25 and 75 bps) on deposits with effect from March 1. For senior citizens, the company will be paying 10 per cent for two- and three-year deposits (currently 9.25 per cent and 9.50 per cent) and 9.75 per cent (9 per cent) on one-year deposits. For others, it will be 9.50 per cent for two- and three-year deposits (currently 9 per cent and 9.25 per cent) and 9.25 per cent (8.75 per cent) on one-year deposits.