Santhosh Deposit

• 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 Best Interest Bearing Deposit Scheme for Senior Citizens from TMB.

This scheme, is basically It is a combination of Savings Bank and Muthukkuvial / Fixed Deposit in one account. Any senior citizen can invest under this scheme to meet any of their future needs of funds by saving small amounts.

Product Highlights:

• No hassles of keeping track of Term Deposit receipts.
• No Need to visit branches for withdrawal.
• Concept of AWB is available for deposit / withdrawal.
• ATM card can be used to draw money from term deposits - at any of our / NFS - ATMs and any where in India at any time.
• All these and more, with the highest returns.

Eligibility

An individual who has completed 60 years of age either in single name or in joint names can open Santhosh Deposits.

Scheme

It is a combination of Savings Bank and Muthukkuvial / Fixed Deposit in one account. A Separate account Number for SB Santhosh and separate a/c Number for MKD/FD component will be given. But separate receipts will not be issued.

Minimum Balance

The SB account will be a Zero Balance account.

Sweep

Every block (unit) of Rs. 1000/- will become either an MKD or FD for a particular period at the specific instruction of the depositor. Depositor has to specify the duration & amount for each investable block of Rs. 1000/- and its multiples.
Initially, the Santhosh Depositor has to open a Savings Bank account through which all the Santhosh Deposits can be attached for easy access through ATMs at any time. The deposit and withdrawal funds will be routed through the SB account only.

Period of Deposit

The deposits can be made for a minimum period of 15 days and a maximum period of 5 years subject to auto renewal, if any.

Anywhere Concept

The customers can remit / withdraw the deposit amounts at any of our branches.

Statement of Account

Separate term deposit receipts will not be issued. Instead, Statement of Account (as in the case of TMB VISA) & Passbook will be given. Statement will be sent through e-mail on depositor's request.

Rate of Interest

Savings account will bear the SB rate of interest and the term deposits will bear the rate of interest as applicable to Senior Citizens.

Withdrawal

No penalty for pre-closure of deposit. The customers can withdraw block by block. No need to break entire deposit.
The minimum withdrawal amount SHOULD be Rs. 1000/- if withdrawn through other associate bank ATMs. Deposit opened in units of Rs. 1000/- under this scheme will be allowed for withdrawal at any time through ATMs, subject to the applicable interest for the period the amount was lying with the Bank till withdrawal of the deposit without any penalty. The balance amount will continue to earn the applicable interest. No separate request for closure of deposit account is required.
In order to provide the customers with more interest, the deposits will be closed in "Last-In-First-Out" LIFO basis in multiples of Rs. 1000/-.

Interchange of Deposit Scheme

The customers will be allowed to change between FD and MKD, but after breaking the existing deposits, prematurely.

Cheque Book Facility

The customers will be issued cheque books on request.

Nomination

Nomination facility is available.

TDS

The scheme is subject to Tax Deduction at Source and will be governed by the Income Tax Act, 1961 and amendments thereto.

ATM

The customers will be issued a Free ATM card of our Bank. All the deposit accounts opened under Santhosh will be linked to the ATM card.
If a customer withdraws Rs. 200/- in our Surabhi ATMs without any balance in SB component, the system will choose the Last In First Out FD/MKD of Rs. 1000/- and credit to SB account to enable the withdrawal.

Tie Up ATM's

SANTHOSHians have the unique opportunity of withdrawing cash through Surabhi ATMs of our bank as well as the ATMs of 17 NFS member Banks - totally Free of Cost (list of NFS Banks: Allahabad Bank, Andhra Bank, Bank of Baroda, Corporation Bank, City Union Bank, Development Credit Bank, ICICI Bank, IDBI Bank, Jammu & Kashmir Bank, Karnataka Bank, Karur Vysya Bank, Oriental Bank of Commerce, Punjab National Bank, South Indian Bank, United Western Bank and Yes Bank). This facility / offer will be reviewed after 6 months for continuance or otherwise. Charges for non-financial transactions like balance inquiry by the customers and charges for withdrawal amount less than Rs. 1000/- at the associate Bank ATMs will be borne by the customer.