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Kids Recurring Deposit

deposit scheme exclusively for kids
Kids Recurring Deposit - deposit scheme exclusively for kids

Learn more about the Exclusive Recurring Deposit Scheme for Kids from TMB.

This scheme, is more suitable for students / parents aids to meet the growing cost of higher education to be incurred by them. Any one can invest under this scheme to meet any of their future needs of funds by saving small amounts every month.

The savings through KIDS RD may be a passport to "TMB Education" Loan. A person who saves under the scheme for a fairly longer duration will get priority in sanction of TMB's Education loan as per the extant provisions of the Bank. Minimum term of the scheme is one year and the maximum period of savings is 10 years. The minimum monthly savings start at Rs.58/- per month and there is no maximum. Minimum target sum is Rs.10000/- and there is no maximum. There is no TDS for the interest earned under the scheme.

Product Brochure:

TMB Launching Kids Recurring Deposit Scheme

Maturity Value Calculator:

A monthly investment of Rs. 138.00 at 7.50% p.a. compounded quarterly interest rate for 60 months will give you a maturity value of Rs. 10,000.00. The Effective Annualized Returns works out to 7.714% p.a. This interest rate is applicable from Jul 05, 2010 and is subject to change without notice.

Download the Application Form: