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) |
Sundaram Finance FD Rates 2023
| Tenure | General Citizen | Senior Citizen |
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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.