Sundaram Finance revises interest rates on deposits

CHENNAI: Non-banking finance company Sundaram Finance has revised, upwards, its interest rates on deposits for two and three years, effective May 9. The company will pay 5.90% pa (5.65% pa) on two year deposits and 6.05% pa (5.80% pa) on three year deposits. For senior citizens, it will pay 6.40% pa (6.15% pa) on two-year deposits and 6.55% pa (6.30% pa) on three-year deposits. There is no change in interest rates on 12 months deposits which stand at 5.50% pa (regular) and 6% pa for senior citizens. The company’s deposit balance stood at Rs 4103 cr as on March 31, 2022.