Fixed Deposit 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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