Shriram Transport, Sundaram Finance raise FD rates

 Shriram Transport Finance and Sundaram Finance have announced an increase in fixed deposit rates.

Shriram Transport has increased fixed deposit rates by 5 to 25 basis points across tenors. Customers can earn interest up to 8.9% on FDs since last Friday, the non-banking finance company (NBFC) said in a statement.

Shriram Transport, which is one of the largest asset financing NBFCs, has also introduced a special benefit for women with an additional 10 bps per annum on all FD rates.

Sundaram Finance, one of the leading NBFCs, revised the interest rates on term deposits for the general public and senior citizens for tenors of one to three years with effect from Sunday.

For the general public, the rates on 12, 24 and 36-month deposits have been increased to 6.65%, 7% and 7.30% respectively. Senior citizens will get an additional interest of 0.35% for one, two and three years respectively.