Non-banking finance company Sundaram Finance has increased the interest rates on one year deposits by 0.50%.
The new rates are applicable for both senior citizens and others with effect from April 9, 2012, a company statement said.
The Chennai-based company would now pay 10.25% on 12 to 18 month deposits, 10% on 24 to 36 month deposits, and 9.75% on 12 to 18 month deposits for senior citizens, it added.
For others, the company would pay 9.50% on 24 to 36 month deposits, it added.