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Sundaram Finance has revised the interest rates on fresh deposits/renewals to 6.75 per cent (from 7 per cent) per annum for 12 and 18 months and to 7 per cent (7.25 per cent) for 24 and 36 months. The revised rates are with effect from May 1 2020.
The interest rate for senior citizens has been revised to 7 per cent (7.5 per cent) per annum for 12 and 18 months and to 7.25 per cent (7.75 per cent) a year for 24 and 36 months. With renewals above 80 per cent consistently, the company’s deposit base has crossed ₹3,650 crore, said a company statement.
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