Sundaram Home Finance has announced that it will raise interest rates on individual, senior citizens and trust deposits from Wednesday (June 1).
The company said in a statement on Tuesday:
The interest rate for 2-year personal deposit has been increased from 5.65% to 5.90% and for 3-5 year deposit from 5.80% to 6.05%.
In addition, the interest rate on 2-year deposits for senior citizens has been raised from 6.15% to 6.40% and for 3-5 deposits from 6.30% to 6.55%. Sundaram Home Finance has announced that the new interest rate hike will come into effect from June 1.
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