Sundaram BNP Paribas Home Finance Limited has increased its deposit interest rates for 12-month and 18-month schemes effective June 22.
The interest rate for 12/18-month deposits for senior citizens will be 7.50% per annum (7.25%) and 7.00% per annum (6.75%) for individuals other than senior citizens at quarterly rests. The interest rate for trusts for 12/18 month deposits will be 7.50% (6.75%).
The interest rates for its 24, 36, 48 and 60 months deposits remain unchanged, according to a release from the company.
Sundaram Home Finance has a deposit base of ₹1,042 crore. There was a gross addition of ₹ 387 crore last year.
The company has over 110 branches spread across the country and over 50,000 customers.
Sundaram BNP Paribas Home Finance Limited is a joint venture between Sundaram Finance Limited (50.1%) and BNP Paribas Personal Finance (49.9%).
