TMB Kids Recurring Deposit Account
TMB Kids Recurring Deposit Account provides a structured way for children and parents to save regularly. With flexible monthly instalments and guaranteed growth, the account helps build a meaningful financial corpus over time
Ideal for building a child’s long-term savings
Assured maturity amount with attractive recurring deposit interest
Flexible monthly instalments for all budgets
Easy and convenient deposits across branches
Overview
TMB Kids Recurring Deposit Account is designed to help children build a strong financial foundation through consistent monthly savings
Product Highlights
This account offers flexible instalment options that allow families to contribute comfortably each month. Children benefit from guaranteed returns similar to fixed deposit rates, making long-term saving stable and rewarding
Features and Benefits
Customers can choose from a range of tenures to match specific goals. Monthly instalments remain constant, making it easy to plan savings through standing instructions or branch deposits. Interest is calculated at attractive recurring deposit rates, ensuring predictable maturity value
Eligibility
The account is open to minors, operated by a parent or guardian. Basic KYC documentation is required for both the child and the guardian
Operational guidelines
Simple rules to help you manage your Recurring Deposit smoothly
Operational Guidelines |
| . Deposits can be made for a period ranging from 1 year to 10 years, based on the savings goal planned for the child |
| . Designed to help parents and guardians systematically build savings for a child's future needs, such as education, skill development, or milestones |
| . Monthly savings start at an affordable amount, making it easy to begin early and invest regularly for long-term goals |
| . The deposit can be structured to achieve a defined target amount, with flexibility to choose the tenure and monthly contribution |
| . Premature closure is permitted, subject to applicable penalties as per Bank norms |
| . Encourages early financial discipline and long-term savings habits for children |
Deposit Interest Rates
TMB has been consistently offering higher rates of interest for the past several years for the benefit of its depositors since its cost of operations is 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 Bank Account
| Balance up to 5 lakhs | 2.60% (p.a) |
| Balance > 5 Lakhs to 10 Lakhs | 3.00% (p.a) |
| Balance > Rs.10 lakh up to Rs.1 Crore | 3.25% (p.a) |
| Balance > Rs.1 Crore up to Rs.2 Crore | 4.50% (p.a) |
| Balance > Rs.2 Crore up to Rs.10 Crore | 6.00% (p.a) |
| Balance > Rs.10 Crore up to Rs.25 Crore | 5.50% (p.a) |
| Balance > Rs.25 Crore up to Rs.100 Crore | 5.00% (p.a) |
| Balance > Rs.100 Crore | 4.00% (p.a) |
Terms and Conditions
- Above Interest Rates applicable from July 01,2026.
- Rates offered on daily closing balance in SB Account and compounded quarterly.
- Please note that Interest Rates are subject to change without notice as per the market trends and the bank’s decision in this regard is final.
Domestic & NRO Term Deposits
RATE ON DOMESTIC TERM DEPOSITS & NRO DEPOSITS* (p.a). DEPOSITS BELOW RS.3 CRORE Domestic and NRO Term Deposits W.E.F 10.04.2026 (Percentage per annum) | ||||||
|---|---|---|---|---|---|---|
Period | General Public | Senior Citizen | Super Senior Citizen | |||
Callable | Non-Callable | Callable | Non-Callable | Callable | Non-Callable | |
| 7-14 days | 4.00 | - | 4.00 | - | 4.00 | - |
| 15-29 days | 4.25 | - | 4.25 | - | 4.25 | - |
| 30-45 days | 4.50 | - | 4.50 | - | 4.50 | - |
| 46-60 days | 4.80 | - | 4.80 | - | 4.80 | - |
| 61-90 days | 4.80 | - | 4.80 | - | 4.80 | - |
| 91-120 days | 5.80 | 5.90 | 5.80 | - | 5.80 | - |
| 121-179 days | 5.80 | 5.90 | 5.80 | - | 5.80 | - |
| 180-270 days | 6.30 | 6.40 | 6.30 | - | 6.30 | - |
| 271 days to less than 1 year | 6.50 | 6.60 | 6.50 | - | 6.50 | - |
| 1 year | 6.80 | 6.90 | 7.30 | 7.40 | ||
| Above 1 year to less than 456 days | 6.70 | 6.80 | 7.20 | - | 7.30 | - |
| 456 days (TMB 456 Special Deposit scheme) @ | 7.10 | 7.20 | 7.50 | - | 7.60 | - |
| Above 456 days to 566 days | 6.60 | 6.70 | 7.10 | - | 7.20 | - |
| 567 days (TMB 567 Special Deposit scheme) @ | 7.25 | 7.35 | 7.70 | - | 7.75 | - |
| Above 567 days to less than 2 years | 6.60 | 6.70 | 7.10 | - | 7.20 | - |
| 2 years to less than 3 years | 7.00 | 7.10 | 7.50 | 7.60 | 7.60 | 7.70 |
| 3 years to 10 years | 6.70 | 6.80 | 7.20 | 7.30 | 7.30 | 7.40 |
@ Special schemes are available for limited period only
# Non Callable Term Deposits are deposits where Premature withdrawal is not permitted.
Note:
- Senior Citizen – aged 60 years and above
- Super Senior Citizen – aged 80 years and above
- Additional rate of interest payable on term deposits to Senior Citizens and Super Senior Citizens shall not apply to NRO Term Deposits
- Additional rate of interest payable on term deposits to Senior Citizens and Super Senior Citizens shall not apply for the period less than one year
- There is no penal interest for premature closure of bulk deposits (Rs.3 crore and above) after 7 days of opening.
Bulk Domestic /NRO/NRE Term Deposit
Rate on Bulk Deposits (Domestic Term Deposits & NRO/NRE* Deposits) (%p.a) With effect from 08.09.2026 | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Period | Callable | Non-Callable # | ||||||||||||
| 3 to <5cr | 5 to <10cr | 10 to <25 cr | 25 to <50 cr | 50 to <100 cr | 100 cr to <250 cr | 250 cr & above | 3 to <5cr | 5 to <10cr | 10 to <25 cr | 25 to <50 cr | 50 to <100 cr | 100 cr to <250 cr | 250 cr & above | |
| 7-14 days | 4.05 | 4.05 | 4.05 | 4.55 | 4.80 | 4.80 | 4.80 | – | ||||||
| 15-29 days | 4.30 | 4.30 | 4.35 | 4.80 | 4.80 | 4.80 | 4.80 | – | ||||||
| 30-45 days | 5.30 | 5.30 | 5.30 | 5.30 | 5.30 | 5.30 | 5.30 | – | ||||||
| 46-60 days | 5.55 | 5.55 | 5.55 | 5.55 | 5.55 | 5.55 | 5.55 | 5.80 | 5.80 | 5.80 | 5.80 | 5.80 | 5.80 | 5.80 |
| 61-90 days | 5.55 | 5.55 | 5.55 | 5.55 | 5.55 | 5.55 | 5.55 | 5.80 | 5.80 | 5.80 | 5.80 | 5.80 | 5.80 | 5.80 |
| 91-120 days | 5.80 | 5.80 | 5.80 | 5.80 | 5.80 | 5.80 | 5.80 | 6.05 | 6.05 | 6.05 | 6.05 | 6.05 | 6.05 | 6.05 |
| 121-179 days | 6.30 | 6.30 | 6.45 | 6.45 | 6.50 | 6.50 | 6.50 | 6.35 | 6.35 | 6.55 | 6.55 | 6.55 | 6.55 | 6.55 |
| 180-270 days | 6.30 | 6.30 | 6.45 | 6.45 | 6.50 | 6.50 | 6.50 | 6.35 | 6.35 | 6.55 | 6.55 | 6.55 | 6.55 | 6.55 |
| 271 days to less than 1 year | 6.55 | 6.55 | 6.80 | 6.80 | 6.80 | 6.80 | 6.80 | 6.60 | 6.60 | 6.90 | 6.90 | 6.90 | 6.90 | 6.90 |
| 1 year | 7.40 | 7.40 | 7.40 | 7.40 | 7.40 | 7.40 | 7.40 | 7.50 | 7.50 | 7.50 | 7.50 | 7.50 | 7.50 | 7.50 |
| >1 year to 15 months | 7.30 | 7.30 | 7.30 | 7.30 | 7.30 | 7.30 | 7.30 | 7.50 | 7.50 | 7.95 | 7.50 | 7.50 | 7.50 | 7.50 |
| >15 months to <2 years | 7.25 | 7.30 | 7.30 | 7.30 | 7.30 | 7.30 | 7.30 | 7.30 | 7.40 | 7.40 | 7.40 | 7.40 | 7.40 | 7.40 |
| 2 years to <3 years | 6.55 | 6.55 | 6.55 | 6.70 | 6.70 | 6.70 | 6.70 | 6.80 | 6.80 | 6.80 | 6.80 | 6.80 | 6.80 | 6.80 |
| 3 years to 10 years | 6.55 | 6.55 | 6.55 | 6.70 | 6.70 | 6.70 | 6.70 | 6.80 | 6.80 | 6.80 | 6.80 | 6.80 | 6.80 | 6.80 |
#-Non callable term deposits are deposits where PREMATURE WITHDRAWAL IS NOT PERMITTED.
Note:
- There is no penal interest for premature closure of bulk deposits (Rs.3 crore and above) after 7 days of opening.
- Kindly contact the nearest branch for Bulk Deposits and other terms and conditions. The above rates are subject to change without prior notice. The acceptance of bulk deposits shall be subject to the permission from Treasury department, keeping in view the liquidity position of the Bank.
- * Minimum tenor for NRE Deposit is 1 Year.
NRE Deposits
DEPOSITS BELOW RS.3 CRORE NRE Term Deposits W.E.F. 10.04.2026 (Percentage per annum) | ||
|---|---|---|
Period | Callable | Non-Callable (Above ₹ 1 Cr) |
| 1 year | 6.80 | - |
| Above 1 year to less than 456 days | 6.70 | 6.80 |
| 456 days (TMB 456 Special Deposit scheme) @ | 7.10 | 7.20 |
| Above 456 days to 566 days | 6.60 | 6.70 |
| 567 days (TMB 567 Special Deposit scheme) @ | 7.25 | 7.35 |
| Above 567 days to less than 2 years | 6.60 | 6.70 |
| 2 years to less than 3 years | 7.00 | 7.10 |
| 3 years to 10 years | 6.70 | 6.80 |
@ Special schemes are available for limited period only
# Non Callable Term Deposits are deposits where Premature withdrawal is not permitted.
Note :
- No interest shall be paid on deposits which are pre-closed before the expiry of minimum period of one year
- 1% penal charges will be levied for premature withdrawal of NRE Term deposits. The penal interest of 1% will be deducted from the rate prevailed on the date of opening of the deposits for the period for which the deposit has remained with us.
With effect from 07th September 2026, the rate of interest on FCNR (B) / FCNR Plus / RFC deposits will be revised as detailed below:
INTEREST RATE FOR FCNR (B) / FCNR Plus / RFC deposits w.e.f. 7th September 2026
Currency
| 1 Year but less than 2 Years | 2 Years and above but less than 3 Years | 3 Years and above but less than 4 Years | 4 Years and above but less than 5 Years | 5 Years only |
|---|---|---|---|---|---|
| USD below 1 Lakh | 5.10 | 4.00 | 3.90 | 3.60 | 3.50 |
| USD 1 Lakh & above | 5.25 | 4.15 | 3.90 | 3.60 | 3.50 |
| GBP | 3.80 | 3.80 | 3.75 | 3.50 | 3.25 |
| EUR | 2.50 | 2.25 | 2.00 | 2.00 | 1.75 |
| CAD | 4.00 | 3.75 | 3.75 | 3.50 | 3.50 |
| JPY | 0.50 | 0.50 | 0.50 | 0.50 | 0.50 |
The penal clause for the premature withdrawal of FCNR (B) Term Deposit:
Deposit Particulars
| Penal Interest |
|---|---|
| USD / EURO / GBP 75,000 and above; tenure period over 3 years; only if the deposit is pre closed after completing 3 years | Nil |
| Below USD / EURO / GBP 75,000 ; tenure period over 3 years | 1% |
| Tenure period below 3 years, irrespective of the amount | 1% |
Note :
- Rates are subject to change without prior notice
- No Interest is payable if the deposit is withdrawn before one year
- For 1 year deposit, simple interest is applicable
- For deposit above 1 year, Interest is compounded at half yearly frequency.
- For pre-closure after completion of one year pre-closure penalty norms will be applicable.
- Any pre-closure after completion of one year will be applicable to pre-closure penalty norms.
- No interest shall be paid on premature withdrawal of deposits upto 7 days from the date of deposit / renewal. (For deposits opened/renewed on or after 13/06/2024)
- The interest rate for premature withdrawal will be calculated based on the applicable rate of interest for the period the deposit has remained with bank less the penal rate (1%).
As per the 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 exceeds Rs. 50,000.00 for ordinary citizens and Rs. 1,00,000.00 for senior citizens. If PAN is not furnished, then tax has to be deducted at higher rate of 20%. Quoting of PAN in the declaration form 121 is mandatory for non-deduction of tax at source. If PAN is not quoted in the form 121, 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 121 are requested to submit Form No. 121 with their Permanent Account Number (PAN) along with the photocopy of the PAN Card immediately.
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Maturity value
₹ 10,930
Deposit amount
₹ 10,000
Total interest earned
₹ 930
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Frequently Asked Questions
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features of the TMB Royal Savings Bank Account
