Sundaram Finance Ltd. has increased the interest rates on term deposits for the general public and senior citizens

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 March 16, 2023.

For the general public, the rate on 12 months deposit has been increased to 7.45% (from the existing 7.20%). For 24 and 36 Months has been increased to 7.75%(from the existing 7.50%). 

For Senior citizens for 12 Months increased to 7.95%(from the existing 7.70%), for 24 and 36 Months increased to 8.25%(from the existing 8.00%)

The deposit balance of the company is Rs.4,667 Cr.

REVISED INTEREST RATES

    EFFECTIVE 16.03.2023

Term in Months Rate (% p.a. at Annual Rests) Fixed Deposits Cumulative Deposits*

Monthly Interest Rate % p.a Quarterly Interest Rate % p.a Maturity Value for Rs 1000 Effective yield % p .a

12 7.45 7.21 7.25 1075 7.45

24 7.75 7.49 7.53 1161 8.05

36 7.75 7.49 7.53 1251 8.37

  SENIOR CITIZENS  

     (Completed 60 years of Age on the Date of Deposit/Renewal)

Term in Months Rate (% p.a. at Annual Rests) Fixed Deposits Cumulative Deposits*

Monthly Interest Rate % p.a Quarterly Interest Rate % p.a Maturity Value for Rs 1000 Effective yield % p .a

12 7.95 7.67 7.72 1080 7.95

24 8.25 7.95 8.01 1172 8.60

36 8.25 7.95 8.01 1268 8.93

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