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This AAA-Rated NBFC Offering 8.25% Interest On 24 Months FD To Senior Citizens
For risk-averse investors, particularly older citizens, FDs continue to be one of the most well-liked fixed-income investment options. Furthermore, recent spikes in interest rates have increased the allure of fixed deposits for conventional investors.
Sundaram Home Finance Ltd., a renowned NBFC operating in the Home Finance industry, is offering attractive interest rates on fixed deposits (FDs) to its customers. The interest rates offered by the Sundaram Home on fixed deposits range from 7.95% to 8.25% for deposits that range from 12 Months to 60 Months. Sundaram Home Finance FDs are rated [ICRA] AAA (Stable) by ICRA and CRISIL AAA/Stable by CRISIL.
Sundaram Home offers two types of deposits, Cumulative deposits and fixed deposits to Individuals and Senior Citizens. Under the Fixed Deposit scheme, it offers a regular income scheme with monthly (% p.a.) and quarterly (% p.a.). According to the official website of Sundaram Home, the interest rates on FDs are effective from March 16, 2023.
Here are the interest rates on deposits for Fixed Deposits & Cumulative Deposits:
Interest Rates on Fixed Deposits For Senior Citizens
| Terms (Months) | Interest Rate (% p.a. at annual Rests) | Monthly (% p.a.) | Quarterly (% p.a.) |
|---|---|---|---|
| 12 Months | 7.95 | - | 7.72 |
| 24 Months | 8.25 | - | 8.01 |
| 36 Months | 8.25 | 7.95 | 8.01 |
| 48 Months | 8.25 | 7.95 | 8.01 |
| 60 Months | 8.25 | 7.95 | 8.01 |
Interest Rates on Cumulative Deposits For Senior Citizens
| Terms (Months) | Monthly (% p.a.) | Yield % |
|---|---|---|
| 12 Months | 7.95 | 7.95 |
| 24 Months | 8.25 | 8.6 |
| 36 Months | 8.25 | 8.93 |
| 48 Months | 8.25 | 9.33 |
| 60 Months | 8.25 | 9.72 |
Interest Rates on Fixed Deposits For Individuals
| Terms (Months) | Interest Rate (% p.a. at annual Rests) | Monthly (% p.a.) | Quarterly (% p.a.) |
|---|---|---|---|
| 12 Months | 7.45 | - | 7.25 |
| 24 Months | 7.75 | - | 7.53 |
| 36 Months | 7.75 | 7.49 | 7.53 |
| 48 Months | 7.90 | 7.63 | 7.68 |
| 60 Months | 7.90 | 7.63 | 7.68 |
Interest Rates on Cumulative Deposits For Individuals
| Terms (Months) | Monthly (% p.a.) | Yield % |
|---|---|---|
| 12 Months | 7.45 | 7.45 |
| 24 Months | 7.75 | 8.05 |
| 36 Months | 7.75 | 8.37 |
| 48 Months | 7.90 | 8.88 |
| 60 Months | 7.90 | 9.26 |
Source - sundaramhome.in
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