Non-banking finance company Sundaram Finance Ltd has announced a revision in interest rates on its deposits with effect from August 8, the company said on Friday.
According to a company press release, the interest rate on fresh deposits and renewals stand revised to 5.50 per cent per annum as against 5.75 per cent earlier, for deposits with a tenure of 12 months
Interest rates have been revised to 5.65 per cent per annum as compared to the earlier 6 per cent, for deposits with a tenure upto 24 months.
For deposits upto 36 months, the interest rates have been revised to 5.80 per cent as against 6.25 per cent earlier, a company statement said.
For senior citizens, the interest rate on deposits have been revised to 6 per cent per annum as compared to 6.25 per cent for deposits of upto 12 months, 6.15 per cent per annum for deposits upto 24 months as compared to the earlier 6.50 per cent.
For deposits upto 36 months, the interest rates have been revised to 6.30 per cent as compared to 6.75 per cent earlier.
As on March 31, 2021, Sundaram Finance said its deposit base stood at Rs 4,021 crore.
