Sundaram Finance FD Rates

FD Tenure	Sundaram Finance FD Interest Rates (in %)
	Regular Citizens		Senior Citizens
	Monthly % p.a.	Quarterly % p.a.	Monthly % p.a.	Quarterly % p.a.
12 months	6.96	7.00	7.45	7.50
18 months	6.96	7.00	7.45	7.50
24 months	7.21	7.25	7.70	7.75
36 months	7.21	7.25	7.70	7.75

Note: Figures mentioned in the above table are subject to change without prior information.

There are three types of Sundaram Finance Fixed Deposit under this head which are as follows:

Fixed Deposit – In this scheme of deposit, the interest which is earned on the deposit would be paid every month or every quarter in March, June, September and December as per the depositor’s choice. The interest is credited through RBI Electronic Clearing Services, NEFT, NECS, and EFT or through the issuance of at per cheques. The minimum amount of deposit accepted is Rs.10, 000

Cumulative Deposit – Under this deposit scheme, the accrued interest is reinvested and paid along with the principal amount on the date of maturity, i.e. when the tenure of the deposit comes to an end. In this scheme, the depositor must deposit a minimum of RS.10, 000 for affecting the deposit scheme. On maturity, the customer has multiple choices to treat the proceeds which are:

• He can avail the maturity proceeds from the company
• He can choose to renew the deposit with the proceeds
• The deposit can also be renewed for a lower multiple of Rs.1000 provided there is a minimum balance of Rs.10, 000 in the deposit account
• The deposit can be renewed for a higher multiple of Rs.1000 by issuing a cheque for the excess amount. The issued cheque should reach the company at least one day in advance before the date of maturity.

Cumulative Deposit
Tenure in (months)	Rate (p.a at Quarterly rests)	Maturity Value for		Effective Yield % p.a.
		Rs.10,000 /-	Rs.1,000 /-
12	7.00%	Rs.10,720/-	Rs.1,072/-	7.20%
18	7.00%	Rs.11,100/-	Rs.1,110/-	7.33%
24	7.25%	Rs.11,550/-	Rs.1,155/-	7.75%
36	7.25%	Rs.12,410/-	Rs.1,241/-	8.03%

NRI Deposit – the Non-Resident Individuals are also allowed to deposit their savings in Sundaram Finance. These deposits are accepted on a non-repatriable basis and have the following conditions:

• The deposit should be made through a payment effected from the NRI’s NRO account in Indian Currency (Rupee).
• The deposit should be made payable at Chennai
• Deposits made through transferring funds from NRE or FCNR account or through any inward remittances would not be accepted
• The NRO bank account number would have to submitted to the company for the purpose of crediting the principal and interest part of the deposit
• The deposit is subject to tax deduction

The company can provide loans on the first two deposits (fixed deposits and cumulative deposits) if it sees fit. For availing the loan, the deposit should have been held with the company for at least 3 months continuously and the maximum available amount that can be taken as loan is limited to 75% of the deposit amount. The rate of interest on the borrowed loan would be 2% over the contracted rate. on maturity, if the loan is unpaid, the balance amount of the deposit after the deduction of the chargeable interest would be paid.

There are two deposits under this head. They are analyzed below:

• Fixed Deposit – In these types of deposits, the interest which is earned on the amount of deposit made is payable at monthly or quarterly intervals as chosen by the depositor.
• Cumulative Deposit – in this scheme, the interest is not paid out but is reinvested with the principal and the cumulative interest and the principal amount are together paid on maturity of the deposit tenure. This deposit can be made for a minimum period of 12 months and thereafter in multiples of 6 months up to a maximum period of 60 months or 5 years. So the months acceptable for holding the deposit are 12, 18, 24, 36, 48 and 60. On maturity, the depositor has the option of availing the proceeds completely or renewing the deposit further in multiples of Rs.1000.

Interest Rates on Cumulative Deposits for Individuals
Tenure in (months)	Rate of Interest	Maturity Value for		Yield %
	(% per annum)	Rs. 10000 /-	Rs. 1000 /-
12	6.75	Rs. 10,690/-	Rs. 1,069/-	6.9
18	6.75	Rs. 11,060/-	Rs. 1,106/-	7.07
24	7.25	Rs. 11,550/-	Rs. 1,155/-	7.75
36	7.25	Rs. 12,410/-	Rs. 1,241/-	8.03
48	6.75	Rs. 13,070/-	Rs. 1,307/-	7.68
60	6.75	Rs. 13,970/-	Rs. 1,397/-	7.94

Whether opening any fixed deposit under the Sundaram Finance head or under the Sundaram BNP Paribas Home Finance Deposits scheme, the same documents are required to be submitted.

For Resident Individuals:

• ID proof which can be any one from PAN Card, Voter’s ID Card, Passport, Ration Card, Driving License or Aadhar Card
• Address Proof which can be any one from telephone bill, bank account statement, letter from any recognized public authority, electricity bill, ration card, letter from employer

For Companies:

• Certificate of Incorporation and Memorandum with the Articles or Association
• Resolution of Board of Directors to open an account and identification of those individuals who are authorized to operate the account
• Copy of the PAN Allotment Letter
• Copy of the telephone bill

For Partnership Firms:

• Registration Certificate if the firm is registered.
• Partnership Deed
• Power of attorney given to the firm’s employees or partner so that they can make transactions on the firm’s behalf
• An official document which identifies the partners and the persons who  hold the Power of Attorney along with their addresses
• Telephone bill which should be in the name of the partnership firm or partners