Sundaram Finance cuts deposit rate by 25bps

Leading non-banking finance company Sundaram Finance has cut interest rates on deposits by 25 basis points from April 1, 2016. Interest rates for 12, 18, 24 and 36 months stand reduced to 8 per cent per annum from 8.25 per cent. Similarly, the interest rate for Senior Citizens stands reduced to 8.50 per cent per annum from 8.75 per cent for all tenors. Recently, deposits crossed Rs 2200 crore, a company press release said.