20:20 Deposit

popular deposit scheme for 20 months and 20 days

Learn more about the Flagship Reinvestment Scheme from TMB.

As the title suggests, you get the highest interest rate in the shortest possible span of time viz. 20 months and 20 days. Yes, in this scheme you get upto 9.50% p.a. interest rate for senior citizens and 9.00% p.a. interest rate for all others.

The deposit is open to all individuals, including Joint account holders and Minors, Proprietorship concern, Partnership firm, Companies, Trusts, Associations, Clubs, Educational institutions, Charitable institutions, Public institutions and Statutory bodies and Non-Resident Ordinary Citizens.

Mode of Deposit
Fixed as well as Muthukuvial Deposit.
Interest Payment Frequency
Monthly as well as Quarterly in case of Fixed Deposit.
Denomination
Minimum prescribed deposit will be Rs. 1,000.00. No Maximum. The deposit is not transferable.
Tenure
20 Months & 20 Days.
Rate of interest
General Public: 9.00%, Senior Citizen: 9.50%.
Loan on Deposit
Loan facility up to 90 % will be made available as per the Bank's extant guidelines.
Nomination
Nomination facility is available.
Premature Closure
No penal interest for pre closure of TMB 20/20 deposit.
TDS
As per the extant guidelines.
KYC Compliance
Proof of identity, proof of address and passport size photo are insisted for new customers and existing customers who have not complied with KYC guidelines earlier.
Limitations
This is a Special Limited Period Offer only.

Deposit Rate of Interest Chart:

Download the Application Form: