FD / RD Interest Rates on Deposits

get best interest rates on all domestic deposits and savings
FD / RD Interest Rates on Deposits

TMB has been consistently offering higher rates of interest since the last many years for the benefit of its depositors since its cost of operations are low compared to other banks. The rates are split for different segments to offer the highest rate of interest possible. Apart from the Regular Domestic Deposits, we have special rates for High Value Deposits as well as even higher interest rates for Senior Citizens of India.

Interest on Domestic & NRO Term Deposits

The Tabular Data Table below shows the Domestic and NRO Term Deposit Interest Rates for Fixed / Recurring Deposits w.e.f. 01st Sep 2020.

Table showing Interest Rates for Domestic & NRO Term Deposits by TMB
Period / Interest Rate (p.a.)Regular Citizens / NRO Dep. Senior Citizens
Upto AmountRs. 1,99,99,999Rs. 1,99,99,999
  • Above Interest Rates applicable from 01st Sep 2020.
  • 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.
3 years - 10y5.50%5.50%
2 years < 3 years5.65%6.15%
> 20m 20d - < 2 years5.75%6.25%
20 months 20 days5.75%6.25%
> 1y to < 20m 20d5.75%6.25%
1 year5.75%6.25%
271 days - < 12 months5.25%5.25%
180 days - 270 days5.25%5.25%
91 days - 179 days5.00%5.00%
61 - 90 days4.25%4.25%
46 - 60 days4.25%4.25%
30 - 45 days3.75%3.75%
15 - 29 days3.50%3.50%

For all Bulk Deposits above the ceiling amount specified in this table above, refer to the Interest Rates on Bulk Deposit table below.

Interest on Bulk Domestic & NRO Term Deposits

The Tabular Data Table below shows the Domestic and NRO Term Deposit Interest Rates for High Value / Bulk Fixed and Recurring Deposits w.e.f. 01st Sep 2020.

Table showing Interest Rates for Bulk / High Value Domestic & NRO Term Deposits by TMB
Period / Interest Rate (p.a.)All CitizensAll Citizens
Amount FromRs. 2,00,00,000Rs. 5,00,00,001
Amount UptoRs. 5,00,00,000Rs. 9,99,99,999
  • Above Interest Rates applicable from 01st Sep 2020.
  • Additional rate of interest payable on term deposits to Senior Citizens shall not apply to NRO Term Deposits.
  • No interest will be payable, if the deposit is pre-closed within 14 days.
  • 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.
3 years - 10y5.15%5.15%
2 years < 3 years5.25%5.25%
> 20m 20d - < 2 years5.35%5.35%
20 months 20 days5.35%5.35%
> 1y to < 20m 20d5.45%5.45%
1 year5.45%5.45%
271 days - < 12 months5.00%5.00%
180 days - 270 days5.00%5.00%
91 days - 179 days4.75%4.75%
61 - 90 days4.00%4.00%
46 - 60 days4.00%4.00%
30 - 45 days3.50%3.50%
15 - 29 days3.25%3.25%

For all even more Higher Value Deposits beyond the ceiling amount specified in this table below, please contact your nearest TMB branch for availing special offers if any.

Savings Account Deposit Interest Rate

The Tabular Data Table below shows the Interest Rates offered on Savings Account by TMB with effect from 06th Jul 2020.

Table showing TMB Savings Account Deposit Interest Rates
Amount / Interest Rate (p.a.)Regular CitizensSenior Citizens
  • Above Interest Rates applicable from 06th Jul 2020.
  • Rates offered on daily closing balance in SB Account and compounded 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.
Balance Above 10 Lakhs3.50%3.50%
Balance Upto 10 Lakhs3.25%3.25%

Pre-closure Penalty for all Deposit Schemes

  • No interest shall be paid on premature withdrawal of deposits upto 14 days from the date of deposit / renewal.
  • If the depositor opts for premature withdrawal 1% penal interest shall be charged on the rate applicable for the period for which the deposit remained with the bank.

Mandatory Quoting of PAN u/s 206AA, IT Act

As per the new section 206AA of the Income Tax Act, quoting of Permanent Account Number (PAN) is mandatory, if the interest on term deposits for the financial year 2010-11 exceeds Rs. 10,000.00. With effect from 01st Apr 2010, if PAN is not furnished, then tax has to be deducted at higher rate of 20%. Quoting of PAN in the declaration form 15G / 15H is mandatory for non-deduction of tax at source w.e.f. 01st Apr 2010. If PAN is not quoted in the form15G/15H, tax will be deducted at a higher rate of 20%.

Therefore the customers are requested to furnish their PAN to the Bank and those customers who are eligible to submit Form 15G /15H are requested to submit Form No. 15G/15H with their Permanent Account Number (PAN) along with the photocopy of the PAN Card immediately.