Deposit Interest Rates

get best interest rates on all domestic deposits and savings

TMB has been consistently offering higher rates of interest since the last many years for the benefit of its depositors since its cost of operations are low compared to other banks. The rates are split for different segments to offer the highest rate of interest possible. Apart from the Regular Domestic Deposits, we have special rates for High Value Deposits as well as even higher interest rates for Senior Citizens of India.

Savings Account Deposit Interest Rate

Table showing currently offered Savings Account Deposit Interest Rates
Amount / Interest Rate (p.a.)Regular CitizensSenior Citizens
  • Above Interest Rates applicable from Feb 01, 2013.
  • Rates offered on daily closing balance in SB Account and compounded half yearly.
  • Please note that Interest Rates are subject to change without notice as per the market trends and the bank’s decision in this regards is final.
Above 1 Lakh5.00%5.00%
Upto 1 Lakh4.00%4.00%

Domestic & NRO Term Deposits

Table showing currently offered interest rates on Domestic / Seniors
Period / Interest Rate (p.a.)Regular Citizens / NRO Dep. Senior Citizens
  • Above Interest Rates applicable from Oct 13, 2014.
  • Please note that Interest Rates are subject to change without notice as per the market trends and the bank’s decision in this regards is final.
10 years9.25%9.75%
Above 5 years - < 10 years9.00%9.50%
5 years9.25%9.75%
Above 2 years < 5 years9.00%9.50%
Above 20m 20d - 2 years9.00%9.50%
20 months 20 days9.00%9.50%
Above 1 year - < 20m 20d9.00%9.50%
1 year9.10%9.60%
180 days - < 12 months8.75%8.75%
91 - 179 days8.50%8.50%
46 - 90 days8.00%8.00%
30 - 45 days7.50%7.50%
15 - 29 days7.00%7.00%

Preclosure Penalty for all Deposit Schemes

  • No interest shall be paid on premature withdrawal of deposits upto 14 days from the date of deposit / renewal.
  • If the depositor opts for premature withdrawal 1% penal interest shall be charged on the rate applicable for the period for which the deposit remained with the bank.

Mandatory Quoting of PAN u/s 206AA, IT Act

As per the new section 206AA of the Income Tax Act, quoting of Permanent Account Number (PAN) is mandatory, if the interest on term deposits for the financial year 2010-11 exceeds Rs. 10,000.00. With effect from Apr 01, 2010, if PAN is not furnished, then tax has to be deducted at higher rate of 20%. Quoting of PAN in the declaration form 15G / 15H is mandatory for non-deduction of tax at source w.e.f. Apr 01, 2010. If PAN is not quoted in the form15G/15H, tax will be deducted at a higher rate of 20%.

Therefore the customers are requested to furnish their PAN to the Bank and those customers who are eligible to submit Form 15G /15H are requested to submit Form No. 15G/15H with their Permanent Account Number (PAN) along with the photocopy of the PAN Card immediately.