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Sundaram Finance to lower interest rates on deposits

Press Trust of India  |  Chennai 

Non-finance company would revise downward its interest rates on deposits with effect from October 16, the company said today.

The Chennai-based firm in a statement said it will revise the interest rates for deposits of 12 and 18 months to 7.50 per cent against 8 per cent.



Interest rates for deposits of 24 and 36 months will be reduced to 7.75 per cent from existing 8 per cent.

For senior citizens, the interest rates will be revised to 8 per cent, from current 8.50 per cent for deposits of 12 and 18 months.

For deposits of 24 and 36 months, the interest rates will be cut to 8.25 per cent from 8.50 per cent, it said.

The company said the deposits crossed Rs 2,000 crore last year. It has over 2.50 lakh depositors.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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Sundaram Finance to lower interest rates on deposits

Non-banking finance company Sundaram Finance would revise downward its interest rates on deposits with effect from October 16, the company said today. The Chennai-based firm in a statement said it will revise the interest rates for deposits of 12 and 18 months to 7.50 per cent against 8 per cent. Interest rates for deposits of 24 and 36 months will be reduced to 7.75 per cent from existing 8 per cent. For senior citizens, the interest rates will be revised to 8 per cent, from current 8.50 per cent for deposits of 12 and 18 months. For deposits of 24 and 36 months, the interest rates will be cut to 8.25 per cent from 8.50 per cent, it said. The company said the deposits crossed Rs 2,000 crore last year. It has over 2.50 lakh depositors. Non-finance company would revise downward its interest rates on deposits with effect from October 16, the company said today.

The Chennai-based firm in a statement said it will revise the interest rates for deposits of 12 and 18 months to 7.50 per cent against 8 per cent.

Interest rates for deposits of 24 and 36 months will be reduced to 7.75 per cent from existing 8 per cent.

For senior citizens, the interest rates will be revised to 8 per cent, from current 8.50 per cent for deposits of 12 and 18 months.

For deposits of 24 and 36 months, the interest rates will be cut to 8.25 per cent from 8.50 per cent, it said.

The company said the deposits crossed Rs 2,000 crore last year. It has over 2.50 lakh depositors.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

image
Business Standard
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Sundaram Finance to lower interest rates on deposits

Non-finance company would revise downward its interest rates on deposits with effect from October 16, the company said today.

The Chennai-based firm in a statement said it will revise the interest rates for deposits of 12 and 18 months to 7.50 per cent against 8 per cent.

Interest rates for deposits of 24 and 36 months will be reduced to 7.75 per cent from existing 8 per cent.

For senior citizens, the interest rates will be revised to 8 per cent, from current 8.50 per cent for deposits of 12 and 18 months.

For deposits of 24 and 36 months, the interest rates will be cut to 8.25 per cent from 8.50 per cent, it said.

The company said the deposits crossed Rs 2,000 crore last year. It has over 2.50 lakh depositors.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

image
Business Standard
177 22