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NT Bureau
Chennai, Feb 3:

        Sundaram Finance Ltd has announced that it has increased the interest rates on fixed deposits by 50 basis points.

        The revised interest rates are 8.5 per cent, 8.5 per cent and 9 per cent for 1, 2 and 3 year fixed deposit respectively. The new revised rates are effective 1 February 2007.

        T T Srinivasaraghavan, managing director, Sundaram Finance Ltd, said, ' The upward revision in interest rates reflects the current interest rate environment and is in line with market trends. We believe that the increase in interest rates has made fixed deposits an attractive investment option for customers.'