This is among flagship recurring deposit plans which is linked with an added benefit of life insurance cover. TMB offers this scheme in association with an IRDAI approved insurance company. Get Double Benefit of Insurance Cover and Interest on Deposits. Loans against such deposits are also provided. Insurance Premium is paid by TMB out of future accrued interest. Nomination facility is also available.
Conditions Apply. The maturity value is subject to change depending upon change in rate if any of future premiums. Insurance is the subject matter of solicitation.
Frequently Asked Questions about Siranjeevee will give the complete details of all the queries that you may have regarding this Insurance Linked Recurring Deposit Scheme.
A monthly investment of Rs. 1,000.00 for 84 months will fetch interest at 7.45% p.a. & give maturity value of around Rs. 1,08,215.00 along with Sum Assurance of Rs. 1,09,000.00 on Natural Death / Rs. 2,18,000.00 on Accidental Death.
One of the depositors belonging to our Mumbai Sion branch recently met with an accident in pune and expired. The depositor had paid only two installments of Rs. 2,000.00 each and had nominated his wife as nominee. The sum assured is Rs. 1,75,000.00 for natural death and Rs. 3,50,000.00 for accidental death. Our GM (Operations) Shri. P R Varatharajan handed over the insurance amount of Rs. 3,50,000.00 plus the RD amount with interest to the claimant immediately. The family thanked the Bank not only for its scheme but also for its efforts to get the claim amount within a short span of time.