Sundaram BNP Paribas increases rate of interest on deposits

Sundaram BNP Paribas, a joint venture between non-banking finance company Sundaram Finance Limited and BNP Paribas Personal Finance, has revised the interest rate on deposits.

Sundaram BNP Paribas increases rate of interest on deposits

In a press statement here Saturday, the Chennai-based Sundaram BNP Paribas said the interest rate for senior citizens has been hiked to 8.25 per cent against 8 per cent on deposits for 12 and 18 months.

For 24 and 36 months, the rate is 8.50 per cent against 8.25 per cent earlier.

For deposits of 48 and 60 months, it is at present 8.50 per cent (7.75 per cent).

The interest rate on deposits offered for trusts has also been hiked to 8.25 per cent (8 per cent) for deposits of 12 and 18 months, the statement said.

On deposits of 24 months, the rate is 8.50 per cent (7.75 per cent). On deposits of three years, it is 8.75 per cent (8.25 per cent).

On deposits for 48 months and 60 months, it is 8.75 per cent (7.75 per cent).

For individuals, the rate has been increased to 7.75 per cent (7.50 per cent) for deposits for 12 and 18 months.

For deposits of 24 and 36 months, the rate is 8 per cent (7.75 per cent).

On deposits of 48 and 60 months, the rate is 8 per cent (7.25 per cent).

Sundaram Home Finance currently has a deposit base of over Rs 1,000 crore and 17,000 depositors, it added.

source: businesstoday


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