Leading non-banking finance company Sundaram Finance Ltd. has increased the interest rates on term deposits for the general public and senior citizens for tenures of one to three years with effect from October 16, 2022.
For the general public, the rate on 12 months’ deposit has been increased to 6.65 per cent, according to a statemet.
For 24 Months, rate has been increased to 7 per cent and for 36 months, the rate has been increased to 7.30 per cent.
Senior citizens will get an additional interest of 0.35 per cent for one, two and three years, respectively. i.e, 7.00 per cent, 7.35 per cent and 7.65 per cent.
The current deposit balance of the company is ₹4219 crore.