Key Features
- Combination of Savings Bank account and Term deposit
- Auto Sweep into Term Deposits
- Personal Accident Insurance (Death) Cover for ₹1,00,000.00
Overview
This scheme, basically is a combination of Savings Bank and 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
- Combination of Savings Bank and Fixed Deposit in one account
- Free Personal Accident Insurance (Death) Cover for ₹1,00,000
- Auto Sweep Facility
- Cash Deposit Limit free up to Rs.10,00,000/- per month.
- Zero Balance Account
- Auto Sweep Facility
Features and Benefits
- Anywhere Banking Facility
- Free personalized Cheque Book (20 Leaves per Financial Year)
- Waiver as applicable for Annual Maintenance Charge on DEMAT Account
- Balance above Rs.5000/- from Savings Bank Account automatically sweeps into term deposits in multiples of Rs.1000/-
- All term deposit will be opened for minimum period of 15 days and a maximum of 5 Years
- Free RTGS and NEFT Charges
Eligibility
- All resident individuals (sole or joint) in the age group of 60 years and above are eligible to open the TMB Santhosh Savings Bank Account
- In the case of a joint account, the first applicant has to be a senior citizen
Minimum / Maximum Amount for SB Account
- Minimum Balance - Nil
- Maximum Balance - No Limit