Sundaram Finance FD Rates 2024: Secure Your Investment

Introduction:

Under the Royal Sundaram General Insurance umbrella, Sundaram Finance offers attractive fixed deposit plans with competitive interest rates. With a AAA (Stable) credit rating, these deposits ensure security for both regular and senior citizens. Check out the current 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: Rates effective March 6th, 2024.

About Sundaram Finance FD:

Established in 1954, Sundaram Finance is a leading financial services provider in India. A subsidiary of Royal Sundaram General Insurance, it offers a spectrum of financial services, including mutual funds, general insurance, and housing finance. Headquartered in Chennai, the company reported INR 4,103.19 crores in deposits as of March 2022, backed by an AAA (Stable) credit rating.

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 payout options
   • Senior citizens receive an additional 0.50% interest
2. Cumulative Fixed Deposits:
   • Minimum deposit: ₹10,000
   • Tenure: 12 to 36 months
   • Interest and principal payable at maturity
   • Interest rates: 5.48% to 5.80%*, with a 0.50% bonus for seniors
   • Loan facility: Up to 75% of the principal at FD rates plus 2%
3. NRI Deposits:
   • Accepted via NRO accounts in India
   • Principal and interest credited to NRO account
   • Not eligible for inward remittances or loans against deposits

Apply by visiting the nearest Sundaram Finance branch.

Calculating Potential Returns:

Estimated returns for various investments:

• ₹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:

Explore these leading fixed deposit rates for comparison:

• 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%

Utilize our FD calculator to estimate returns based on different investment amounts and terms.

Conclusion:

Sundaram Finance fixed deposits present attractive interest rates for both individuals and senior citizens. With varied tenures and interest payout options, these deposits offer a secure investment choice. For additional details or to apply, visit the nearest branch or contact customer service.