Chennai-based Non Banking Finance Company Sundaram Finance Ltd has revised the interest rates on deposits with effect from May 1, 2020.
The interest rates on fresh deposits/renewals stand revised to 6.75% (7%) per annum for 12 and 18 months and to 7% (7.25%) for 24 and 36 months.
Interest rate for Senior Citizens has been revised to 7% (7.50%) per annum for 12 and 18 months and to 7.25 % (7.75%) per annum for 24 and 36 months.
With renewals above 80 per cent consistently, the company’s deposit base has crossed Rs 3,650 crore.
The company has over 600 branches spread across the country.