Sundaram Finance hikes interest rates on term deposits

While the general scheme rate is increased to 7.45%, senior citizens will get 7.95%.

March 14, 2023 10:16 am | Updated 10:28 am IST - CHENNAI

Sundaram Finance Ltd. (SFL) has increased the interest rates on term deposits for the general public and senior citizens for tenures of one to three years with effect from Thursday, March 16, 2023.

For the general public, the rate on 12 months deposit has been increased to 7.45% from the existing 7.20%. For 24 and 36 months, it has been increased to 7.75%(7.50%), the non-banking finance company said in a statement.

For senior citizens the interest rate for 12 months has been revised to 7.95% from 7.70%, for 24 and 36 months, it is 8.25% against 8%.

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