Deposit Interest Rates
get best interest rates on all domestic deposits and savings
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.
Savings Account Deposit Interest Rate
| Amount / Interest Rate (p.a.) | Regular Citizens | Senior Citizens |
|---|---|---|
| ||
| 1 Lakhs & Above | 4.00% | 4.00% |
| Less than 1 Lakhs | 4.00% | 4.00% |
Domestic (Regular) / Senior Citizen / NRO Term Deposits
| Period / Interest Rate (p.a.) | Regular Citizens | Senior Citizens |
|---|---|---|
| ||
| 5 years - 10 years | 10.00% | 10.25% |
| 2 year - < 5 years | 9.75% | 10.00% |
| 1 year - < 2 years | 10.25% | 10.50% |
| 271 days - < 12 months | 9.00% | 9.00% |
| 180 - 270 days | 8.75% | 8.75% |
| 91 - 179 days | 8.00% | 8.00% |
| 46 - 90 days | 7.00% | 7.00% |
| 30 - 45 days | 6.50% | 6.50% |
| 15 - 29 days | 6.00% | 6.00% |
High Value Domestic Term Deposits
For all High Value Deposits of Rs. 1 Crore and above, please contact your nearest TMB branch for availing special offers if any.
Preclosure 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 Apr 01, 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. Apr 01, 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.
