TMB RERA Current Account
Manage your business operations effortlessly with an easy-to-maintain current account tailored for traders, professionals, and enterprises of every size
Unlimited transactions for smooth business operations
Convenient cash handling across TMB branches
Flexible account operations for individuals and entities
Secure and compliant banking backed by TMB’s trusted service
Overview
The TMB RERA Current Account is a compliant banking solution designed specifically for real estate developers and promoters. It automates your project fund routing to ensure hassle-free adherence to statutory regulatory standards. This account protects your business from compliance risks by organizing your collections and construction expenses efficiently.
Product Highlights
This specialized account offers automated 70:30 fund routing at the end of every day to keep your allocations legally precise. Developers can manage their statutory obligations effortlessly with a NIL Minimum Average Balance requirement and zero service charges on mandatory project lines. It also provides seamless upgrades to premium TMB Super Flexi Current Accounts or flexible OD/CC credit facilities.
Features and Benefits
The account structure segregates your cash into dedicated Collection, Project, and day-to-day Operative accounts to streamline your workflow. It features an automated system that pushes 70% of project revenue into your retention account while keeping 30% flexible for regular business spending. Furthermore, it regulates debits strictly for land and construction outlays to secure your project assets.
Eligibility
This account is open to all builders, promoters, and companies managing active, RERA-registered real estate projects. Applicants must complete standard institutional KYC verification and provide certified sign-offs from an official Architect, Engineer, and Chartered Accountant for fund releases. Additionally, promoters must submit a signed undertaking letter confirming the authenticity of all project documentation.
Features & benefits
A purpose-built current account structure aligned with RERA regulations to ensure transparent project fund collection, controlled utilisation, and compliant operations
Feature overview
| Particulars | Collection Account | Project Account (Current Account 2 – Registered with RERA Authority) | Operative Account |
|---|---|---|---|
| Purpose | Collection of 100% project receipts | Parking of mandated project funds as per RERA | Day-to-day operational transactions |
| Permitted Credits | Amount equivalent to project cost only • 100% of project cost to be deposited as per RERA guidelines | • Auto-transfer from Collection Account only • Minimum 70% of project cost eligible • No other credits permitted | All transactions permitted as in a regular current account • Existing / new operative accounts must be upgraded to TMB Super Flexi CA or OD/CC account if credit facility is availed |
| Permitted Debits | Auto transfer by system on End of Day (EOD) basis in 70:30 ratio – 70% to Project Account – 30% to Operative Account | • Cash withdrawal or NEFT / RTGS allowed only towards construction & related expenses • Withdrawals allowed in proportion to project completion upon submission of: – Engineer Certificate – CA Certificate – Architect Certificate – Undertaking letter confirming authenticity of certificates | Operated like a normal current account for business and operational expenses |
| Minimum Average Balance (MAB) | NIL | NIL | As applicable to TMB Super Flexi Current Account |
| Service Charges | NIL | NIL | As applicable to TMB Super Flexi Current Account |
| Regulatory Compliance | Fully aligned with RERA fund collection norms | Mandatory RERA registration & controlled utilisation | Linked operational account for business continuity |
Service charges & fees
Here's a transparent view of all applicable charges for your account and related services
Frequently Asked Questions
Find answers to the most common questions about eligibility, benefits, and
features of the TMB Royal Savings Bank Account
