Sundaram Finance would hike interest rates on its deposits from October 19. The increase would be from 7.50% to 7.75% for deposits and renewals for tenure of 12 and 18 months. Also, the rates would be increased to 8% from 7.75% for deposits of 24 and 36 months.
Besides, for senior citizens, the rates would be hiked to 8.25% from 8% for 12 and 18 months. For deposits and renewals, the increase would be from 8.25% to 8.50% for 24 and 36 months.
Sundaram Finance, headquartered in Chennai, is a leading player in Retail Finance with presence across multiple facets of the Financial Services industry including Vehicle Finance, Home Finance, Mutual Fund, General Insurance and Financial Services Distribution.
