Non banking finance company Sundaram Finance has revised its interest rates upwards on deposits for two and three years, effective May 9.
The company will pay 5.90 per cent per annum (5.65 per cent, per annum ) on two year deposits and 6.05 per cent, per annum (5.80 per cent, per annum) on three year deposits, according to a statement.
For senior citizens, the company will pay 6.40 per cent, per annum (6.15 per annum, per annum) on two year deposits and 6.55 per cent per year (6.3 per cent, per annum.) on three year deposits.
There is no change in interest rates on 12 months deposits which stand at 5.50 per cent, per annum (regular) and 6 per cent per annum for senior citizens, it said.
The company’s deposit balance stood at ₹4,103 crore as on March 31, 2022.