|Tenure||Normal Citizen FD Rate||Senior Citizen FD Rate|
|1 year - 1 year 11 months 30 days||7.2%||7.7%|
|2 years - 2 years 11 months 30 days||7.5%||8%|
Note: All interest rates shown below are as on 9th Jan 2023
Sundaram Finance Limited is an Indian financial and investment service provider, based in Chennai. Sundaram Finance Limited was established in 1954. It has a balance sheet size of Rs. 34,953 Cr as on 31st March 2021. It recorded a profit of Rs 804 Cr in FY21
7.2% - 7.5%
7.7% - 8%
FD Rate for Seniors
Loan against FD
|Investment Amount||For 3 years with interest of 7.5%||For 5 years with interest of 7.5%|
|₹ 50,000||₹ 62,572||₹ 72,665|
|₹ 1 lakh||₹ 125,145||₹ 145,329|
|₹ 2 lakh||₹ 250,289||₹ 290,659|
|₹ 5 lakh||₹ 625,723||₹ 726,647|
|₹ 10 lakh||₹ 1,251,446||₹ 1,453,294|
Use FD calculator to change values and compare your returns from top banks.
|Maturity Amount||₹ 107,442||₹ 108,139|
|Total Investment Amount||₹ 100,000||₹ 100,000|
|Total Interest Gained||₹7,442||₹ 8,139|
|Bank Name||FD Interest Rates|
|Jana Small Finance Bank FD||7.85% - 8.8%|
|CSB Bank FD||5.75% - 6.25%|
|Axis Bank FD||7% - 7.75%|
|Deutsche Bank FD||7% - 7%|
|Ujjivan Small Finance Bank FD||7.2% - 7.95%|
|Indian Bank FD||6.25% - 6.75%|
|Federal Bank FD||6.5% - 7%|
|Chaitanya Godavari Grameena Bank FD||6.25% - 6.75%|
|Ellaquai Dehati Bank FD||5.3% - 5.55%|
|Paschim Banga Gramin Bank FD||5.2% - 5.7%|
Sundaram Finance FD offers regular, cumulative, and NRI fixed deposits. The tenure ranges from 12 months to 36 months for its depositors. You can apply for the FD by visiting a branch.
Eligibility- Individuals, Private Limited Company, Partnership Firms, Trust and Foundations.
Loan on FD– An overdraft is available for up to 75% of the principal amount. It is at the discretion of the company to provide the loan facility to a depositor. An NRI is not eligible for a loan. In the case of A or S/s accounts, both/all depositors must sign the deposit receipt. In the case of N or S/s accounts, the first depositor must sign the loan paperwork. For loans, only the first depositor’s cheque/DD will be drawn. If renewal instructions for the balance amount (subject to a minimum of Rs. 10,000) are not received one week before the maturity, the loan principal and interest will be adjusted and the loan will be paid on maturity.
Maturity of Deposits- The Maturity Intimation letter is sent 15 days before the maturity date, together with the renewal application form. On maturity, the principal amount along with interest earned is credited to the linked savings bank account.
Renewal of Deposits- the depositor must give the Original Deposit Receipt and the renewal form. To renew the deposit, the applicant must file the request within 2 months from the date of maturity. Otherwise, the contract will be renewed in the future. It is not feasible to renew with a loan. On the maturity date, the loan must be adjusted against the deposit value.
Nominee- After submitting the necessary documentation, depositors can name one person (for a Deposit Account) as a nominee. The nominee will receive the refund of the deposit in the event of the Depositor’s death.
Premature Withdrawal- The company reserves the right to allow deposits to be withdrawn before maturity at its sole discretion. When a deposit is allowed to be withdrawn early, the related deposit receipt must be signed by all depositors in the event of an A or S/s deposit, and the first-named depositor in the case of an N or S/s deposit. On a premature withdrawal, the depositor will have to pay a penalty. This means that he or she will receive less than the applicable interest rate effectively. If the FD is withdrawn after 3 months and before 6 months no penalty will be levied. On withdrawal of FD after 6 months and before 12 months, a penalty of 3% lower than the One year rate at the time of deposit. On withdrawal of FD after 12 months and before 24 months, a penalty of 2% is lower than the one year rate at the time of deposit. If the FD is withdrawn after 3 months and before 24 months and before 36 months then 2% lower than the two-year rate at the time of deposit is applicable as a penalty.
The applicant must submit any of the following documents along with application or renewal forms, as applicable.
Higher Secondary Certificate
Health Insurance Policy
Election Identity Card
Any other Government Certified Proof.
|Private Limited Company||Name of the company|
Principal place of business
Mailing address of the company
Telephone or Fax Number
Certificate of incorporation and Memorandum & Articles of Association
Resolution of the Board of Directors to open an account and identification of those who have authority to operate the account
Power of Attorney granted to its managers, officers or employees to transact business on its behalf
Copy of PAN allotment letter
Copy of the telephone bill
|Partnership Firm||Legal name |
Names of all partners and their addresses
Telephone numbers of the firm and partners
Registration certificate, if registered
Power of Attorney granted to a partner or an employee of the firm to transact business on its behalf
Any officially valid document identifying the partners and the persons holding the Power of Attorney and their addresses
Telephone bill in the name of firm or partners.
|Trust and Foundation||Names of trustees, settlers, beneficiaries and signatories |
Names and addresses of the founder, the managers or directors and the beneficiaries
Telephone or fax numbers Certificate of registration, if registered
Power of Attorney granted to transact business on its behalf
Any officially valid document to identify the trustees, settlors, beneficiaries and those holding Power of Attorney, founders or managers or directors and their addresses
Resolution of the managing body of the foundation or association Telephone bill
Yes, Senior citizens are eligible for higher Sundaram Finance FD rates of an additional 0.50% per annum.
The interest rate on loans against FD is 2% in addition to the existing Sundaram Finance FD rates.
A depositor can choose to either renew on maturity or pay on maturity. Furthermore, under the option of renewal, the depositor may choose to either renew the entire maturity value or just the principal amount.