Learn more about the Normal Pre Closure of Deposits Norms of TMB.
TMB has a very clear cut and transparent policy of the charging of penal interest / charges towards the pre closure of deposits with the bank. These norms are strictly followed by the bank for every deposit made by any individual / firm / corporate entity for either small deposits or large high value deposits. Senior Citizen Deposits are also governed by these norms.
No interest shall be paid on premature withdrawal of deposits up to 14 days from the date of deposit / renewal.
If the depositor opts for premature closure, 1% penal interest shall be charged on the rate applicable for which the deposit remained with the bank.
Incentive if any offered on any single deposits shall also be deducted on premature withdrawal of such deposits, in addition to penal interest.