Sundaram Finance to hike interest rates from March 16

Non-banking finance company Sundaram Finance Ltd is revising the interest rates on various term deposits with effect from March 16, the company said on Tuesday.

The interest rate on 12-month deposits has been increased to 7.45 per cent for the general public from the earlier 7.20 per cent. For deposits of 24 and 36 months, the interest rate for the general public has been revised to 7.75 per cent from the existing 7.50 per cent, Sundaram Finance, which is headquartered in the city, said in a statement.

For senior citizens, the interest rate on deposits of up to 12 months has been increased to 7.95 per cent from the earlier 7.70 per cent.

For term deposits with tenures of 24 and 36 months, the interest rate has been hiked to 8.25 per cent from the current 8 per cent, the company said. PTI VIJ ANE ROH ROH