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Sundaram Home Finance Limited, a non-banking financial company (NBFC), offers a fixed deposit option that has been rated MAAA by ICRA and FAAA by CRISIL for debt investors looking for strong returns on deposits. Surprisingly, the company has altered interest rates on fixed deposits, with the new rates taking effect today, June 1, 2022.

Sundaram Home Finance FD

Sundaram Home offers a fixed deposit scheme with Regular Income Scheme and Cumulative Deposit Scheme choices for investors searching for a secure investment alternative to develop wealth. On the Cumulative Deposit Scheme, interest is compounded quarterly and paid at maturity, as the name suggests, while on the Regular Income Scheme, interest is determined till the final day of the month and paid as a consistent monthly income. Deposits must be made in multiples of 1,000 rupees, with a minimum of 10,000 rupees per account and deposits can be made in the names of two or three persons jointly.

The company provides a standard interest rate of 5.50 per cent p.a. on 12-month deposits, 5.90 per cent on 24-month deposits, and 6.05 per cent on deposits of 36 months to 60 months under the cumulative option. The organisation provides a maximum rate of 6.02 per cent on a monthly basis and 6.05 per cent on a quarterly basis on 60-month deposits under the regular deposit option. Sundaram Home Finance offers senior citizens an interest rate of 6.00 per cent annually on 12-month deposits, 6.40 per cent per annum on 24-month deposits, and 6.55 per cent per annum on 60-month deposits under the cumulative option. Senior citizens will get a maximum rate of 6.52 per cent on a monthly basis and 6.55 per cent on a quarterly basis on deposits maturing in 60 months under the regular income option.

Cumulative Deposit Interest Rates For Individuals

Sundaram Home Finance FD Rates
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Sundaram Home Finance FD Rates (sundaramhome.in)

Regular Income Scheme For Individuals

Sundaram Home Finance FD
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Sundaram Home Finance FD (sundaramhome.in)

Cumulative Deposit Interest Rates For Senior Citizens

Sundaram Home Finance FD
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Sundaram Home Finance FD (sundaramhome.in)

Regular Income Scheme For Senior Citizens

Sundaram Home Finance FD
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Sundaram Home Finance FD (sundaramhome.in)
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