Latest Sundaram Finance Fixed Deposit Rates

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Established in 1954, Sundaram Finance is one of the leading NBFCs in India. It was the first NBFC to be listed on the Madras Stock Exchange in 1972. A subsidiary wing of Royal Sundaram General Insurance, it has a nationwide presence of 640 branches and a trusted portfolio consisting of several financial services and products.

One of the important parts of the portfolio of Sundaram Finance is its fixed deposit schemes, providing safe and high-yielding investment options in India. Let’s explore the Sundaram Finance FD Rates and different schemes.

Minimum Deposit	₹10,000
Maximum Deposit	No limit
Minimum Tenure	12 months
Maximum Tenure	36 months
Interest Rates	7.45% to 8.25% (including rates for senior citizens)
Lock-in Period	12 months
Senior Citizen	7.95% to 8.25% (for deposits with yearly interest payouts) 7.72% to 8.01% (for deposits with quarterly interest payouts) 7.67% to 7.95% (for deposits with monthly interest payouts)
General Citizen	7.45% to 7.75% (for deposits with yearly interest payouts) 7.25% to 7.53% (for deposits with quarterly interest payouts) 7.21% to 7.49% (for deposits with monthly interest payouts)

Table of Contents

Latest Sundaram Finance FD Rates – February 2024

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Tenure	General Citizen	Senior Citizen

Features and Benefits of Sundaram Finance FD

Before diving into Sundaram Finance FD interest rates, let’s take a quick look at the features and benefits of its FD schemes:

Sundaram Finance offers the highest credit quality fixed deposit schemes with an AAA rating.
It allows depositors to open a joint FD account operated by a maximum of three individuals at a time.
Depositors can choose among different interest payout options as per their suitability if they avail the FD schemes of Sundaram Finance.
Depositors can avail of additional benefits such as loans against FD, easy premature withdrawal, nomination facility and higher returns for senior citizens.
Sundaram Finance ensures instant interest payments to the depositor’s bank account through ECS or NEFT.
The schemes are designed with high-yielding rates and a tenure ranging from 12 to 36 months.

How to Book Sundaram Finance FD?

The following is a step-by-step guide you need to follow if you want to book a Sundaram Finance FD scheme and avail of its attractive rates.

Step 1: Go to the official website of Sundaram Finance.
Step 2: Find the ‘Deposit Application Form’ tab and click on it.
Step 3: Download the form and fill out the necessary details as required.
Step 4: Attach all the KYC documents with the form.
Step 5: Visit your nearest branch of Sundaram Finance along with a cheque and submit the form to a bank representative.

Documents Required to Book Sundaram Finance FD

To avail of a secured Sundaram Finance FD interest rate, you need to provide a few documents during the application process. Here is a list of all those documents, categorised for each eligible entity, required for booking an FD account with Sundaram Finance.

PAN Card
Duly filled in the FD account opening form
Identity Proof – Aadhaar Card, Passport, Driving Licence, etc.
Address Proof – Higher Secondary Certificate, Utility bills, etc.
Proof of Date of Birth – Voter ID card, Aadhaar Card, Ration Card, etc.
Passport-size photographs.
Bank account details – account number, IFSC code, and branch name.

Eligibility to Open Sundaram Finance FD

Here is the list of entities that are eligible for opening and operating a Sundaram Finance FD account.

Type of Applicant: Indian Residents, Individuals, Firms, Companies, Trusts and Foundations.
Age of Applicant: 18 years or more.

Types of Sundaram Finance FD Schemes

Understanding all types of FD schemes is essential to select the best option. There are two schemes in Sundaram Finance with varying Sundaram Finance FD rates. Let’s discuss them in detail.

1. Sundaram Finance Regular Fixed Deposit Scheme

The Regular Fixed Deposit Scheme is the standard FD investment of Sundaram Finance, applicable to everyone. It comes with flexible interest-paying-out options, ranging from monthly to quarterly payments.

Minimum Deposit: ₹10,000
Maximum Deposit: No limit
Tenure: 12 to 36 months
Interest Rate: 7.45% to 7.75% for general citizens and 7.95% to 8.25% for senior citizens
Eligibility: Indian residents, minors under guardianship and senior citizens above 60 years of age

2. Sundaram Finance Cumulative Fixed Deposit Scheme

Unlike the other one, the Sundaram Finance Cumulative Fixed Deposit Scheme has a fixed interest payout option. Under this scheme, the interest gets accumulated and is payable along with the principal amount at the time of maturity.

Minimum Deposit: ₹10,000
Maximum Deposit: No limit
Tenure: 12 to 36 months
Interest Rate: 7.45% to 7.75% for general citizens and 7.95% to 8.25% for senior citizens.
Eligibility: Indian residents, minors under guardianship and senior citizens above 60 years of age

By availing of Sundaram Finance FD rates, you can easily grow and safeguard your savings in the long run. Besides being a safe investment option, it provides a multitude of additional benefits. However, carefully review all the related terms and conditions and verify the interest rates before making any investment choice.

FAQs

What is the minimum and maximum interest rate for a general citizen in Sundaram Finance FDs?

General citizens receive a minimum interest rate of 7.45% and a maximum interest rate of 7.75%.

What is the rate of interest available for senior citizens who invest in Sundaram Finance?

Senior citizens get a minimum interest rate of 7.95% and a maximum interest rate of 8.25% if they invest in Sundaram Finance FDs.

What is the TDS rate for NRI deposits?

As per the current Income Tax rules, Sundaram Finance charges a TDS rate of 31.2% on FDs booked by Non-Resident Indians.

Is income tax deducted from the interest earned from the Regular Fixed Deposit Scheme of Sundaram Finance?

Yes, Sundaram Finance deducts tax at source from the interest earned through its Regular Fixed Deposit Scheme. However, this is only applicable if the annual interest payable is more than ₹5,000 in a financial year.

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Disclaimer

This article is solely for educational purposes. Stable Money doesn't take any responsibility for the information or claims made in the blog.