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TMB 400 Deposit

choose the best deposit scheme for 400 days

Learn more about our back by popular demand investment Scheme from TMB.

As the title suggests, you get the highest interest rate in the shortest possible span of time viz. 400 days. Yes, in this scheme you get upto 6.25% p.a. interest rate for senior citizens and 5.75% p.a. interest rate for all others.

The deposit is open to all individuals, including Joint account holders and Minors, Proprietorship concern, Partnership firm, Companies, Trusts, Associations, Clubs, Educational institutions, Charitable institutions, Public institutions and Statutory bodies and Non-Resident Ordinary Citizens.

The existing slab TMB 400 days will cease to exist from 01.06.2016.

Beneficiaries
Retail as well as corporative customers having aptitude for medium term investments.
Eligibility
All types resident individuals / Non - individuals and NRO* / NRE* account holders.
Minimum Deposit
Minimum deposit will be Rs. 1,000.00 and in multiples of Rs. 1,000.00. No Maximum.
Mode of Deposit
Fixed / Muthukuvial Deposit.
Interest Payment Frequency
Monthly as well as Quarterly in case of Fixed Deposit.
Tenure
400 Days.
Rate of interest
General Public: 5.75% p.a., Senior Citizen: 6.25% p.a..
Loan on Deposit
Loan facility will be made available as per the Bank's extant guidelines.
Nomination
Nomination facility is available.
Premature Closure
1 % penalty shall be levied on the card rate of the interest applicable to the period for which the deposit remained with bank. No interest will be paid for premature closure of deposit within 14 days from the date of deposit / renewal.
Premature Renewal of the existing deposit
Facility of premature renewal of the existing deposit into TMB 555 is not permitted.
KYC Compliance
The account should be fully KYC compliant.
Limitations
This is a Special Limited Period Offer only.

[* Additional rate of interest payable on term deposits to Senior Citizens shall not apply to NRO / NRE Term Deposits].

Download the Application Form: