Product Details
Bank Name
Sundaram Finance Limited
Eligibility
Trusts
Foundations
Partnership firms
Companies
Resident individuals
Interest Rate
Up to 8.25%
Tenure
12-36 Months
Fixed Deposit Type
Regular
Regular Fixed Deposit
Tax Benefits
No, Sundaram Finance Limited Regular Fixed Deposits (also known as Fixed Income Scheme) do not directly provide tax savings under Section 80C of the Income Tax Act, 1961.
Credit Ratings
CRISIL AAA/Stable
Interest Payment Frequency
Monthly or quarterly. Typically for fixed deposits having interest payment at maturity, compound interest is applicable and for fixed deposits having monthly interest payment, simple interest is applicable. Typically fixed deposits having a tenure of one year or less, simple interest is applicable. It is best to consult the bank officials before you book a fixed deposit.
Cummulative/Non-Cummulative
Non-Cumulative
Features
Minimum Deposit Rs. 10,000/- per account The tenure of the scheme ranges from 12 months to 36 months Seniors get an additional rate. Premature withdrawal is permitted. A Maximum of three people can open a joint Deposit account
Minimum Investment Amount
Rs. 10,000/-
Features & Benefits
Pros
Competitive Interest Rates
Credibility and Safety
Flexible Investment Options
Easy Liquidity
Cons
Lower Interest Rates Compared to Other Investment Options
Early Withdrawal Penalty
Limited Online Accessibility
Pros & Cons
Account Opening Procedure
How to Open?
Download form from https://www.sundaramfinance.in/downloads
Application Procedure
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