Non-banking finance company Sundaram Finance will revise interest rate on its fixed deposits with effect from January 1, the city-based firm said on Saturday.
Accordingly, the rate on deposits of 12 months will be increased to 7.20%, for 24 months it will be 7.50% and for 36 months it will be 7.50%.
City-based Sundaram Finance said in a statement here that for senior citizens, the rate of interest will be 7.70 per cent on deposits for 12 months, 8 per cent for 24 and 36 months. The company said its deposit base is ₹4,461 crore.