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NRE Interest Rates

TMB has been very popular since long for being the bank offering the highest rates of interest for NRI accounts for the benefit of its depositors. No wonder a major part of our deposits are from NRI citizens abroad. The rates are split for different types of NRI Account to offer the highest rate of interest possible.

Amount / Interest Rate (p.a.) Regular Citizens Senior Citizens
Balance Above 25 Lakhs 4.00% 4.00%
Balance Upto 25 Lakhs 3.50% 3.50%
  • Above Interest Rates applicable from Aug 19, 2019.
  • Rates offered on daily closing balance in SB Account and credited quarterly.
  • 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..

For all Higher Deposits Amounts above the ceiling amount specified in the table below, please contact your nearest TMB branch for availing special offers if any.

Period
Below 2.00 crore
Bulk deposits (2.00 crore to 5.00 crore)
Bulk deposits (Above 5.00 crore)
1 year
6.60%
6.50%
6.50%
Above 1 year to less than 2 years
6.70%
6.60%
6.60%
2 years to less than 3 years
6.75%
6.65%
6.65%
3 years to 10 years
6.60%
6.35%
6.35%
  • Above Interest Rates applicable from Aug 19, 2019.
  • No interest will be paid for preclosure of deposits within a period of 1 year.
  • The interest earned on NRE deposit is totally exempted from Indian Income Tax - No TDS either.
  • For premature withdrawal of deposits 1% penal amount will be levied from the date of opening of the deposits for the period for which the deposit has remained with us.
  • 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.