Sundaram Finance Ltd., has revised the interest rates on deposits with effect from 1st May 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 rates for Senior Citizens
The 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% consistently, the company’s deposit base has crossed Rs. 3650crores.
The company has over 600 branches spread across the country. Set up in 1954, the Sundaram Finance Group’s services include financing for the entire range of commercial vehicles, passenger cars and construction equipment, as well as specially designed working capital products such as fuel finance and tyre finance. The company is also into home loans, mutual funds, non-life insurance, IT, BPO and distribution of a wide range of financial products and services.