In this sequence, Sundaram Home Finance, led by Sundaram Finance Limited, has also increased its Fixed Deposit (FD) rate.
Since May, RBI has increased the repo rate at frequent intervals. Since then, almost all private and government banks have also increased their lending and deposit rates. Non-Banking Finance Companies (NBFCs) have also not lagged behind in increasing deposit rates. In this sequence, Sundaram Home Finance, led by Sundaram Finance Limited, has also increased its Fixed Deposit (FD) rate. Apart from this, the company has also decided to pay an additional 0.50% interest to the trust. According to the information received from the official website of the company, the increased new interest rates on FD have become effective from December 1.
New FD rates from Sundaram Home Finance
After this increase in the interest rate, Sundaram Home Finance will pay 50 basis points more interest on 12-month FDs to the trust. On the other hand, Sundaram Home Finance will pay 7.15% instead of 6.65% to its general customers and 7.50% instead of 7% to its senior citizen customers on FDs of the same time period. In addition, Sundaram Home Finance will offer its senior citizen customers an interest rate of 7.50% instead of 7.35% on 24-month FDs, 7.80% instead of 7.65% on 36-month FDs and 8% instead of 7.90% on 48-month FDs. .
Will get 8% interest for this time period
In addition to senior citizen customers, Sundaram Home Finance will now pay 7.15% interest on 24-month FDs from 7% instead of 7.65% on 48-month FDs from 7.55% on general customers. On the other hand, Sundaram Home Finance has offered its senior citizen customers 7.15% instead of 7% on 24-month FDs, 7.80% instead of 7.65% on 36-month FDs and 7.90% on 48-month FDs from December 1. It has been decided to pay percent interest.
