Moneycontrol
Nov 29, 2016 03:03 PM IST IST | Source: PTI

Sundaram BNP Paribas to revise interest rates

On deposits of 12 months and 18 months, interest rates for individuals have been revised to 6.75 percent from existing 7.25 percent and for senior citizens it has been revised to 7.25 percent from current 7.75 percent.

The Sundaram BNP Paribas Home Finance today announced a cut in its interest rates on deposits by 50 basis points with effect from December 16. Interest rates for individuals other than senior citizens has been revised to 7.25 percent on two and three year deposits from existing 7.75 percent, a company release said.

For senior citizens, interest rates have been revised to 7.75 percent from the existing 8.25 percent for deposits which has two and three year tenure.

On deposits of 12 months and 18 months, interest rates for individuals have been revised to 6.75 percent from existing 7.25 percent and for senior citizens it has been revised to 7.25 percent from current 7.75 percent.

Sundaram BNP Paribas, a 50.1 percent and 49.9 percent joint venture between city-based Sundaram Finance and BNP Paribas, France, crossed the Rs 1,000 crore deposit portfolio in March 2016, the release said.

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