SHF hikes interest rate on fixed deposits of various tenures, check latest rates here

Sundaram Home Finance (SHF) has raised the interest rate on fixed deposits (FDs). The new rates are going to be effective from 1 December. One can make deposits in SHF in multiples of Rs 1000 with a minimum amount of Rs 10,000 per account. Depositors have the option to choose “Auto Renewal Facility” as well. The fixed deposit programme of this company has received the [ICRA]AAA (Stable) rating from the Investment Information and Credit Rating Agency of India Limited (ICRA). SHF offers secured and attractive returns to the investors on their investment. With the upcoming revised rates, SHF will join the list of non-banking financial corporations (NBFCs) that provide higher rates on FDs for senior citizens.Sundaram Home Finance latest FD rates 2022:This is going to be the fourth hike by this Indian financial and investment service provider since June this year. SHF has raised the rates on FDs maturing in 12 months in three categories, namely senior citizens (at 7.5 percent), trusts and individuals (at 7.15 percent).On term deposits of 24 months, senior citizens will get a 7.5 percent interest. On FDs maturing in 36 months, SHF is offering them 7.8 percent return. On deposits with a maturity period of 48 months, senior citizens will get 8 percent interest. The interest rate has been hiked to 7.15 percent for trusts on term deposits maturing in 24 months. In case of FDs with a tenure of 36 months, the rate offered to the trusts is 7.8 percent. For deposits of 48 months, an interest of 8 percent is provided to the trusts by the NBFC.For the regular individuals, the rate has been increased to 7.15 percent on deposits maturing in 24 months. On term deposits with a maturity period of 48 months, the interest rate has been hiked to 7.65 percent.According to Lakshminarayanan Duraiswamy, MD of SHF, the NBFC has had a healthy inflow of over Rs 250 crore after following the three upward revisions since June this year. SHF showed a net profit of Rs 97.5 crore on disbursements of Rs 1736 crore during the first half of the fiscal year.Read all the Latest News, Trending News, Cricket News, Bollywood News,India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.