ERD Online RD

now make recurring deposits online

Learn more about Electronic Recurring Deposit (Online RD) Scheme.

ERD Online RD

Now get the convenience of making recurring deposits from the comform of your home. Using your online banking account access TMB eConnect, you can instantly transfer funds to open a recurring deposit account with TMB and earn high rates of interest.

Product Highlights:

  • ERD accounts can be opened by the customers having TMB eConnect Internet Banking facility during branch business hours and the account will be opened at the branch to which the operative account is connected.
  • The minimum installment amount for the above schemes is Rs. 100.00 and the maximum is Rs. 5,00,000.00 per installment. The Installment should be in multiples of Rs. 100.00 only.
  • Standing Instruction will be created automatically for the ERD , to transfer the installment every month, from the operative account from which the first installment is debited.
  • Account opened under the above scheme will be closed automatically on maturity and credited to the operative account of the customer from where the installment is debited.
  • Deposit Account Opening does not consume any of the Funds Transfer limits.
  • After opening the account, the customer will get the Cyber-receipt and the same has to be printed and submitted to the branch along with the duly filled in Account Opening Form, Nomination Form and can get the Original Passbook from the branch at customer’s convenience. In absence of printer customer can note down the account number and mention the same in the Account Opening Form.
  • Premature Closure is allowed only at branches. Existing Terms for Premature Closure of Deposits is applicable for these schemes as well.
  • Deposit Accounts opened through TMB eConnect facility cannot not be transferred to other branches.
  • This facility is not available for the customers falling under the categories - Retail Inquiry (View Only) and Retail NRI (NRI Customers).

Deposit Rate of Interest: