Sundaram Finance FD Interest Rates (p.a.) Highlights 2023 |
|
Highest slab rate | 7.75% (for 555 days; 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 5 December 2023
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.
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Sundaram Finance FD Interest Rates (p.a.) Highlights 2023 |
|
Highest slab rate | 7.75% (for 555 days; 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 5 December 2023
Card limit is 100% of FD Amount
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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 |
555 days | 7.49 | 7.53 | 7.75 | 7.81 | 7.86 | 8.10 |
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 |
555 days | 7.75 | 8.10 |
24 months | 7.75 | 8.25 |
36 months | 7.75 | 8.25 |
FDs of up to ₹5 lakhs insured by RBI
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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 years 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
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An FD calculator might prove quite helpful when deciding which Sundaram Finance FD to invest in by providing customers with the closest maturity amount. Paisabazaar provides this tool for free and it can be used multiple times to check and compare various FDs. Inputs like deposit amount, tenure and prevailing Sundaram Finance FD rates are required to use this tool post which a maturity amount shall be displayed on the screen.
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.
Q. What is the highest fixed deposit rate provided by Sundaram Finance?
A. Highest Sundaram Finance FD rate for domestic deposits is 7.75% for 2 years and 3 years. This is for the cumulative option. 0.50% extra for senior citizens.