Premature Closure

• Interest Rates
• Savings Bank A/c.
• SB Premium A/c
• Current A/c.
• Janatha Savings A/c.
• TMB Visa A/c.
• Fixed Deposit
• Muthukkuvial Deposit
• Navarathnamala
• Cash Certificate
• Pearl Deposit
• Siranjeevee R. Deposit
• Kids Recurring Deposit
• Santhosh Deposit
• Tax Saving Deposits
• TMB Double Deposit
• TMB 400 Days
• Premature Closure

Learn more about the Normal Pre Closure of Deposits Norms of TMB.

TMB has a very clear cut and transparent policy of the charging of penal interest / charges towards the pre closure of deposits with the bank. These norms are strictly followed by the bank for every deposit made by any individual / firm / corporate entity for either small deposits or large high value deposits. Senior Citizen Deposits are also governed by these norms.

The following Pre-Mature Closure Clause is effective from February 02, 2008:

No Interest will be paid for:

No interest shall be paid on premature withdrawal of deposits which are opened / renewed for less than 6 months and closed within 45 days from the date of deposit.

Penal Interest of 1% will be charged for:

Penal interest for premature withdrawal of all other categories of deposits would be 1% on the rate applicable for the period for which the deposit remained with the bank.

Deduction of Incentive for:

Incentive if any offered on any single deposits shall also be deducted on premature withdrawal of such deposits, in addition to penal interest.