HomeLifestyleFixed Deposit: This NBFC is giving up to 7.80% interest on FD,...

Fixed Deposit: This NBFC is giving up to 7.80% interest on FD, check latest rate

highlights

Sundaram Finance Limited has changed the interest rates on FDs of all tenures.
Senior citizens will get an additional 0.5% interest annually on these deposit schemes.
Sundaram Finance Limited is a non-banking finance company.

New Delhi. Non-banking finance company Sundaram Finance Limited has increased its deposit interest rates starting from November 16, 2022. The company has increased the interest on FDs of all periods. 10,000 and interest rates on current deposits remain fixed till maturity. ICRA and CRISIL have assigned the highest credit quality rating “AAA” to Fixed Deposits of the company for the last 30 years.

The company has increased the annual interest rate on non-cumulative deposits maturing in 12 to 24 months to 7.15% annually, 6.93% monthly and 6.97% quarterly. On non-cumulative FDs maturing in a period of 36 months, the company has made the interest rate 7.30% annually, 7.07% monthly and 7.11% quarterly. The company has increased the annual interest rate for senior citizens to 7.50% annually, 7.25% monthly and 7.30% quarterly on non-cumulative deposits maturing in 12 to 24 months.

Also read- Before opening FD, see which banks are giving you the highest returns in 3 years

Interest rates increased on different periods
At the same time, on non-cumulative fixed deposits maturing in 36 months, the company has increased the interest rate for senior citizens to 7.80% annually, 7.53% monthly and 7.58% quarterly. On non-cumulative FDs, customers can earn interest at monthly/quarterly (March, June, September, December) intervals.

On cumulative FD, interest is payable on maturity along with the principal. The company has increased the annual interest rate to 7.15% on cumulative deposits maturing in 12 to 24 months, to 7.30% on those maturing in 36 months. The company has increased the annual interest rate to 7.50% for senior citizens and 7.80% for deposits of 36 months on cumulative deposits maturing in 12 to 24 months.

Senior citizens will get an additional 0.5% interest annually on these deposit schemes. Sundaram Finance Limited offers a wide variety of financial services including Mutual Funds, Housing Finance, General Insurance, IT, Business Process Outsourcing and Retail Distribution.

Tags: business news, Fixed deposits, Investment and return

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