Non-banking finance company (NBFC) Sundaram Finance has increased the interest rates on one year deposits by 0.50 per cent.
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The new rates are applicable for both senior citizens and others with effect from April 9,2012,a company statement said.
The Chennai-based company would now pay 10.25 per cent on 12 to 18 month deposits,10 per cent on 24 to 36 month deposits,and 9.75 per cent on 12 to 18 month deposits for senior citizens,it added.
For others,the company would pay 9.50 per cent on 24 to 36 month deposits,it added.