Non Banking Finance Company Sundaram Finance has revised, upwards, its interest rates on deposits for two and three years, effective May 9.
The company will pay 5.90% p.a. (5.65% p.a.) on two year deposits and 6.05% p.a. (5.80% p.a.) on three year deposits.
For Senior Citizens
For Senior Citizens, the company will pay 6.40% p.a. (6.15% p.a.) on two year deposits and 6.55% p.a. (6.30% p.a.) on three year deposits.
There is no change in interest rates on 12 months deposits which stand at 5.50% p.a. (regular) and 6% p.a. for Senior Citizens.
The company’s deposit balance stood at Rs. 4103 crores as on 31st March 2022.
Founded in 1954, Sundaram Finance has grown into one of the most trusted and diversified financial services groups in India providing financing for commercial vehicles, cars & utility vehicles, tractors and farm equipment, construction equipment and a range of working capital products for financing diesel, tyres, insurance. It has a nation-wide presence of over 600 branches, over 1.2 lakh depositors and over 4 lakh lending customers.