NBFC Sundaram Finance revises interest rates with effect from May 1

Chennai-based Non Banking Finance Company Sundaram Finance Ltd has revised the interest rates on deposits with effect from May 1, 2020. 

The interest rates on fresh deposits/renewals stand revised to 6.75% (7%) per annum for 12 and 18 months and to 7% (7.25%) for 24 and 36 months.

Interest rate for Senior Citizens has been revised to 7% (7.50%) per annum for 12 and 18 months and to 7.25 % (7.75%) per annum for 24 and 36 months.

With renewals above 80 per cent consistently, the company’s deposit base has crossed Rs 3,650 crore.

The company has over 600 branches