Sundaram Finance cuts deposit rates
The Hindu
Sundaram Finance has cut interest rates on fresh deposits and renewals from August 8. In a statement, the NBFC firm said interest rates stand revised to 5.5% per annum compared with 5.75% for 12-month
Sundaram Finance has cut interest rates on fresh deposits and renewals from August 8. In a statement, the NBFC firm said interest rates stand revised to 5.5% per annum compared with 5.75% for 12-months deposits. Similarly, a 24-months deposit will fetch an interest of 5.65% p.a. (6%); a 36-month lock-in would yield 5.8% p.a. (6.25%). However, senior citizens would get additional 0.50% interest on deposits across these three tenors. As of March 2021, the company’s deposit base stood at ₹4,021 crore.
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