Non-banking finance company Sundaram Finance on Saturday said the firm would revise interest rates on deposits for the general public and senior citizens with effect from November 16.
For the public, the rate on one-year deposits would be 7.15% against the existing 6.65%; for 24 months it would be 7.15% against 7%; and for deposits of 36 months, it would remain unchanged at 7.30%, a statement from the company said here.
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For senior citizens, the rate on deposits of one year would be 7.50% as against 7%; and for deposits up to 24 months, the rate would be 7.50% against 7.35%.
For deposits of 36 months, the interest rates would be 7.80% against 7.65%, the company said.
The current deposit balance as of October 31, 2022 stood at Rs 4,273 crore, the company said.