Learn more about our back by popular demand investment Scheme from TMB.
The deposit is open to all individuals, including Joint account holders and Minors, Proprietorship concern, Partnership firm, Companies, Trusts, Associations, Clubs, Educational institutions, Charitable institutions, Public institutions and Statutory bodies and Non-Resident Ordinary Citizens.
The existing slab TMB 777 days will cease to exist from 01.04.2016.
- To attract retail as well as corporate customers having aptitude for long term Investments.
- All types of Resident Individuals (including Minors), Non-Resident Indians and Non Individuals.
- Minimum Deposit
- Minimum deposit will be Rs. 1,000.00 and in multiples of Rs. 1,000.00.
- Maximum Deposit
- No limit but for single deposit of Rs. 1 Crore and above, special interest rate if any may be quoted by Treasury Department.
- Mode of Deposit
- Fixed / Muthukuvial Deposit.
- Interest Payment Frequency
- Quarterly as well as Monthly with discounted rate over standard rate.
- 777 Days.
- Rate of interest
- General Public: 7.00% p.a., Senior Citizen: 7.50% p.a..
- Loan on Deposit
- Loan facility will be made available as per the Bank's extant guidelines.
- Nomination facility is available.
- Premature Closure
- For Single Deposit Amount below Rs. 1 Crore - 1% penalty shall be levied on the card rate of the interest applicable to the period for which the deposit remained with bank. For Single Deposit Amount Rs. 1 Crore & above - there is no penal interest for premature closure of bulk deposits after 14 days of deposits.
- KYC Compliance
- The account should be fully KYC compliant.
- This is a Special Limited Period Offer only.
[* Additional rate of interest payable on term deposits to Senior Citizens shall not apply to NRO /
NRE Term Deposits].
Download the Application Form: