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Sundaram Home Finance Ltd. (SHFL) has revised interest rates on term deposits March 16 onwards. On one-year deposits for senior citizens, the company will now offer 7.95% p.a. (7.70%). On two-to-five-year deposits, the rate has been raised to 8.25% from 8%, SHFL said in a statement.
For individuals other than senior citizens, SHFL has raised the rates by 25 basis points to 7.45% on one-year deposits, 7.75% on two- and three-year deposits and to 7.90% on four- and five-year deposits. For Trusts, the rate has gone up to 7.45% from 7.20% on one-year deposits and 7.75% against 7.50% on two-year deposits.
Lakshminarayanan Duraiswamy, MD, said: “This is the sixth upward revision this year. With positive feedback from depositors, we have able to generate gross mobilisation of over ₹430 crore this year.”
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