Sundaram Finance Ltd. (SFL), a leading NBFC, 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 16th November 2022.
The company’s fixed deposits are currently rated AAA signifying Highest Degree of Safety by ICRA and CRISIL.
For the general public, the rate on 12 months’ deposit has been increased to 7.15% (from the existing 6.65%), for 24 months increased to 7.15% (from the existing 7.00%) and for 36 months it remains at 7.30%.
For senior citizens, for 12 months it is increased to 7.50% (from the existing 7.00%), for 24 months at 7.50% (from the existing 7.35%) and for 36 months at 7.80% (from the existing 7.65%).
The current deposit balance of the company as on Oct.’22 is Rs. 4273 cr.