Sundaram Finance FD Interest Rates (p.a.) Highlights |
|
Highest slab rate | 7.75% (for 2 years; 3 years) |
For 1 year | 7.45% |
For 2 years | 7.75% |
For 3 years | 7.75% |
The interest rates are as of 16 January 2025
Sundaram Finance offers FD interest rates of 7.45-7.75% p.a. to the general public and 7.95-8.25% p.a. to senior citizens on tenures ranging from 1 year to 3 years. This NBFC has been accredited with a credit rating of AAA/Stable by CRISIL and AAA/Stable by ICRA. As per the CRISIL, AAA indicates very strong chances of timely interest and principal repayment by the NBFC. As per ICRA, AAA indicates highest-credit-quality and carries lowest credit risk for the depositors.
Sundaram Finance FD Interest Rates (p.a.) Highlights |
|
Highest slab rate | 7.75% (for 2 years; 3 years) |
For 1 year | 7.45% |
For 2 years | 7.75% |
For 3 years | 7.75% |
The interest rates are as of 16 January 2025
Credit Rating of Sundaram Finance
Credit Rating Agency | Rating | Outlook |
CRISIL | AAA | Stable |
ICRA | AAA | Stable |
Tenure | Interest Rates (% p.a.) | |||||
Regular Citizens | Senior Citizens | |||||
Monthly | Quarterly | Yearly | Monthly | Quarterly | Yearly | |
12 months | 7.21 | 7.25 | 7.45 | 7.67 | 7.72 | 7.95 |
24 months | 7.49 | 7.53 | 7.75 | 7.95 | 8.01 | 8.25 |
36 months | 7.49 | 7.53 | 7.75 | 7.95 | 8.01 | 8.25 |
Tenure | Interest Rates (% p.a.) | |
Regular Citizens (at annual rests) | Senior Citizens (at annual rests) | |
12 months | 7.45 | 7.95 |
24 months | 7.75 | 8.25 |
36 months | 7.75 | 8.25 |
PMP before the expiry of 3 months | No Payment ** |
PMP after 3 months but before 6 months | No Interest * |
PMP after 6 months but before 12 months | 3% lower than the 1-year rate at the time of deposit |
PMP after 12 months but before 24 months | 2% lower than the 1-year rate at the time of deposit |
PMP after 24 months but before 36 months | 2% lower than the 2 year rate at the time of deposit |
** Premature payment can be made without interest in the case of the death of a depositor
* The above rates are also applicable for Prematurity payment (PMP) in the case of the death of the depositor.
Note: The NBFC reserves the right to withdraw premature FD closure facility for its deposits, as per its discretion.
Useful Article: All you need to know Premature withdrawal of fixed deposit
Sundaram Finance has not provided an FD calculator on its website. Hence depositors planning to open an FD with the bank can visit online financial marketplaces like Paisabazaar and use the FD Calculator to calculate the maturity amount based on the tenure, deposit amount and Sundaram Finance FD rates.
Q. What is the highest fixed deposit rate provided by Sundaram Finance?
A. The highest FD rate for Sundaram Finance is 7.75% for 2 years and 3 years. Senior citizens get an additional 0.50% interest rate on regular FD rates.
Q. What is the age to apply for Sundaram Finance fixed deposits as senior citizens?
A. To avail preferential Sundaram Finance FD rates for senior citizens, one must have completed 60 years of age at the time of application or renewal.
Q. What is the mode of interest payment opted by Sundaram Finance?
A. Interest can be credited to the investor’s account via NEFT, RBI Electronic Clearing Service or cheque.
Q. What is the difference between Form 15G and 15H?
A. Both these forms are self-declarations that investors can submit if their total income is not taxable (i.e. falls within Rs. 2.5 lakh). Form 15G or 15H shall help in avoidance of TDS so that one does not have to file ITR for their non-taxable income. While Form 15H is for senior citizens (above 60 years of age), 15G is to be filled by eligible non-senior citizens.