Financial Daily from THE HINDU group of publications
Thursday, Mar 16, 2006


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Money & Banking - Fixed Deposits

TMB scheme for senior citizens

Our Correspondent

Madurai, March 15

Tamilnad Mercantile Bank Ltd (TMB) has introduced a deposit scheme - `Santhosh Deposit' - exclusively for senior citizens.

The scheme serves both as a savings bank account and term deposit account. Also, the account has zero-balance facility. Deposits can be made for a minimum of 15 days and a maximum of five years. The bank offers 8 per cent interest rate under the scheme. Customers can deposit/withdraw money from any branch or any ATM of the bank all over the country free of cost.

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