Sundaram Finance increases interest rates on deposits


The non-bank finance company Sundaram Finance Ltd. has revised interest rates on deposits for two and three years upwards effective May 9th.

The company pays 5.90% per year versus 5.65% per year previously paid on two-year deposits and 6.05% per year (5.80% per year) on three-year deposits, it said in a statement.

For seniors, the company pays 6.40% per annum (6.15% per annum) on two-year deposits and 6.55% per annum (6.30% per annum) on three-year deposits.

The interest rates for 12-month deposits do not change, they are 5.50% per annum (regular) and 6% per annum for seniors.

As of March 31, the company had deposits valued at ₹4,103 crore.

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