Sundaram Finance raises interest rates on deposits



Non-banking financal company Sundaram Finance Ltd. has revised upwards interest rates on deposits for two and three years with effect from May 9.

The company will pay 5.90% per annum against 5.65% per annum paid earlier on two-year deposits and 6.05% per annum (5.80% per annum) on three-year deposits, it said in a statement.

For senior citizens, the company will pay 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.

There is no change in interest rates on 12-month deposits that stands at 5.50% per annum (regular) and 6% per annum for senior citizens.

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


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