Sundaram Finance Ltd. (SFL) has elevated the interest rates on term deposits for most people and senior residents for tenures of 1 to a few years with impact from Thursday, March 16, 2023.
For most people, the speed on 12 months deposit has been elevated to 7.45% from the prevailing 7.20%. For 24 and 36 months, it has been elevated to 7.75%(7.50%), the non-banking finance firm mentioned in an announcement.
For senior residents the interest charge for 12 months has been revised to 7.95% from 7.70%, for twenty-four and 36 months, it’s 8.25% towards 8%.
