Sundaram Finance Ltd. has revised the interest rates on term deposits for the general public and senior citizens for tenures of one, two and three years, with effect from Wednesday.
For the general public, the rate on 12 months’ deposit has been increased to 7.15% from the existing 6.65%, for 24 months to 7.15% (7%) while for 36 months it remains at 7.3 %, the lender said in a statement.
For senior citizens, for 12 months the rate has been increased to 7.5 (7%), to 7.5% (7.35%) for 24 months, and 7.8% (7.65%) for 36 months.
As of October, the NBFC had a current deposit balance of ₹4,273 crore.
