Sundaram Finance Revises Interest Rates

Chennai: Non-banking finance company Sundaram Finance has revised interest rates on deposits by 25 basis points with effect from April 1, 2016.

Interest rates for 12, 18, 24 and 36 months stand reduced to 8 per cent per annum from existing 8.25 per cent, the Chennai-based firm said in a statement.

Interest rates for senior citizens would be reduced to 8.50 per cent per annum from 8.75 per cent for all tenors. 

Recently, the company's deposit balance crossed the Rs 2,200 crore mark, it added.