- About Coverfox
Established in 1954, Sundaram Finance is one of the oldest commercial vehicle financiers of India. Today, the company has grown into one of the most trusted financial services groups in India. Sundaram Finance has a nation-wide presence of nearly 640 branches, over two lakh depositors and three lakh commercial vehicle and car finance customers.
Fixed Deposit is a popular saving scheme offered by Sundaram Finance. Fixed Deposits offered by Sundaram Finance have been continuously rated AAA for 30 years by CRISIL.
Note: All information has been sourced from the official website of Sundaram Finance.
(Interest rates subject to the bank’s discretion)
|Term (Months)Senior Citizen**||Rate (% p.a. at Quarterly rests for FD )Senior Citizen**||Monthly Interest Rate % p.a. (FD)||Rate (% p.a. at Quarterly rests for FD )||Monthly Interest Rate % p.a. (FD)|
|FD term||Senior Citizen** Interest rate per annum||Senior Citizen**Cumulative Deposits||Senior Citizen**Maturity Value for||Senior Citizen **Effective Yield % p.a.||Others Rate (p.a. at Quarterly rests)||Others Cumulative Deposits||Others Maturity value for||Others Effective Yield % p.a.|
There are two types of Fixed Deposits offered by Sundaram Finance -Regular Fixed Depositand Cumulative Fixed Deposit. A regular fixed deposit is a savings account where you make a one-time deposit for a fixed term at a pre-defined interest rate. Cumulative Deposit is a deposit where the accrued interest is payable on maturity along with the principal amount. Cumulative FD pays 8.00% per annum for a minimum tenure of 1 year or 12 months. However, it can go up to 8.93% per annum for a tenure of 36 months. The maximum tenure of the deposit is 3 years.
The following documents are required to open a fixed deposit with Sundaram Finance
You can apply for Sundaram Finance Fixed Deposit by visiting the official bank branch and submitting the application form for FD in person along with a cheque or cash.