Introduction:

As a part of Royal Sundaram General Insurance, Sundaram Finance presents attractive fixed deposit schemes with highly competitive interest rates. Backed by a AAA (Stable) credit rating, these offerings ensure safety for both individuals and senior citizens. Explore the available tenures and corresponding interest rates below.

2024 Interest Rates:

Regular Citizens:

• 1 year - 1 year 6 months 5 days: 7.45%
• 1 year 6 months 6 days - 1 year 6 months 6 days: 7.75%
• 1 year 6 months 7 days - 3 years: 7.75%

Senior Citizens:

• 1 year - 1 year 6 months 5 days: 7.95%
• 1 year 6 months 6 days - 1 year 6 months 6 days: 8.1%
• 1 year 6 months 7 days - 3 years: 8.25%

Note: These rates are effective as of March 6th, 2024.

About Sundaram Finance FD:

Founded in 1954, Sundaram Finance is a leading financial platform in India. Operating as a subsidiary of Royal Sundaram General Insurance, it offers a comprehensive range of financial products, including mutual funds, general insurance, and housing finance. With headquarters in Chennai and an extensive branch network, the company held deposits worth INR 4,103.19 crores as of March 2022, maintaining its AAA (Stable) credit credibility.

Fixed Deposit Options and Benefits:

1. Regular Fixed Deposits:

• Minimum deposit: ₹10,000
• Interest payments: Monthly or quarterly
• Tenure: 12 to 36 months
• Interest rates: 5.48% to 5.80%* based on tenure and interest payout options
• Senior citizens benefit from an extra 0.50% interest

2. Cumulative Fixed Deposits:

• Minimum deposit: ₹10,000
• Tenure: 12 to 36 months
• Interest and principal: Paid upon maturity
• Interest rates: 5.48% to 5.80%*, with an added 0.50% for senior citizens
• Loan facility: Up to 75% of the principal at FD rates plus 2%

3. NRI Deposits:

• Accepted from NRO accounts in India
• Principal and interest: Credited to NRO account
• Not eligible for inward remittances or loans against deposits

For applying, visit the nearest Sundaram Finance branch.

Calculating Potential Returns:

Here is an estimated return calculation for various investment amounts:

• ₹50,000 - 3 years at 7.75%: ₹63,040, 5 years: ₹73,573
• ₹1 lakh - 3 years: ₹1,26,081, 5 years: ₹1,47,146
• ₹2 lakh - 3 years: ₹2,52,162, 5 years: ₹2,94,292
• ₹5 lakh - 3 years: ₹6,30,404, 5 years: ₹7,35,729
• ₹10 lakh - 3 years: ₹12,60,808, 5 years: ₹14,71,458

Comparison with Other Banks:

For a comparison with other banks, consider these top fixed deposit rates:

• Utkal Grameen Bank FD: 6.5% - 7%
• Punjab & Sind Bank FD: 6% - 6.5%
• Saptagiri Grameena Bank FD: 7.5% - 8%
• Dakshin Bihar Gramin Bank FD: 5.6%
• Karnataka Gramin Bank FD: 6.85% - 7.35%
• Kerala Gramin Bank FD: 6.75% - 7.25%
• Baroda Gujarat Gramin Bank FD: 6.75% - 7.25%
• Yes Bank FD: 7.3% - 8%
• Union Bank of India FD: 6.5% - 7%
• Dhanlaxmi Bank FD: 6.5% - 7%

Use our FD calculator to evaluate returns based on varied investment values and durations.

Conclusion:

Sundaram Finance fixed deposits provide attractive rates for both individuals and senior citizens. With flexible tenure options and interest payout mode, these deposits offer a secure investment route. For more information or to apply, visit the nearest branch or contact customer service.