Sundaram Finance increases interest rates to 7.45%

Current context: Sundaram Finance increases interest rates on term deposits to 7.45% for general public while senior citizens will get 7.95% interest rates.

• This scheme will come into effect from March 16, 2023.
• The rate on 12 months for the general public was 7.20% previously
• For general public, for 24 and 36 months, it has been increased to 7.75% against 7.50%.
• The rate on 12 months for the senior citizens was 7.70% previously.
• In case of senior citizens, for 24 and 36 months, it has been increased to 8.25% against 8%.

Question:

Q.1 Sundaram Finance increases interest rates on term deposits to _____for general public.
a. 5.65%
b. 7.10%
c. 7.45%
d. 7.28%