Sundaram Home Finance has revised upwards the interest rates on deposits effective June 1.
In addition to one, two and three year deposits, the company will also accept deposits for four and five year periods, it said in a statement.
The rate on two year deposits for individuals other than senior citizens has been increased by 0.25% to 5.90% p.a (5.65%). On three to five year deposits, the company will offer 6.05% p.a (5.80%).
SHF has increased the interest rates on three year deposits for Trusts by 0.75% to 6.55% p.a (5.80%). The company will now offer 5.90% p.a (5.65%) on two year deposits and 6.55% p.a (6.30%) on four and five year deposits.
For the Senior Citizens, SHF will provide 6.40% p.a (6.15%) on two year deposits and 6.55% p.a (6.30%) on three to five year deposits.
Interest rates on one year deposits remain unchanged at 5.50% p.a (6% for senior citizens) for individuals and trusts.
