Siranjeevee RD

our flagship insurance backed recurring deposit scheme
Siranjeevee RD

This is among flagship recurring deposit plans which is linked with an added benefit of life insurance cover. TMB offers this scheme in association with an IRDAI approved insurance company. Get Double Benefit of Insurance Cover and Interest on Deposits. Loans against such deposits are also provided. Insurance Premium is paid by TMB out of future accrued interest. Nomination facility is also available.

Product Highlights:

  • Anyone above 18 years age and below 60 years age can open a SRD Account.
  • Reap Double Benefits - Life Insurance Cover along with Interest on Deposits.
  • Hassle Free Scheme - No Medical Check-up Required.
  • Save as small as Rs. 100.00 p.m. or as big as Rs. 10,000.00 p.m.
  • Life Insurance Cover is available upto a maximum of Rs. 10 Lakhs.
  • Accidental Death Double Insurance Cover is available upto a maximum of Rs. 20 Lakhs.
  • Insurance Premium is paid by TMB out of future accrued interest.
  • Loan available against SRD.
  • No tax liability for Death Benefits (u/s 10D)
  • Tax Benefits for Premium Paid as per Income Tax Act.

Conditions Apply. The maturity value is subject to change depending upon change in rate if any of future premiums. Insurance is the subject matter of solicitation.

Product FAQ:

Frequently Asked Questions about Siranjeevee will give the complete details of all the queries that you may have regarding this Insurance Linked Recurring Deposit Scheme.

Deposit Rate of Interest:

Deposit Maturity Calculator:

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Interest Rate updated 01st Sep 2020, subject to change.

A monthly investment of Rs. 1,000.00 for 84 months will fetch interest at 5.50% p.a. & give maturity value of around Rs. 1,00,674.00 along with Sum Assurance of Rs. 1,01,000.00 on Natural Death / Rs. 2,02,000.00 on Accidental Death.

Quick Claim Settlement:

One of the depositors belonging to our Mumbai Sion branch recently met with an accident in pune and expired. The depositor had paid only two instalments of Rs. 2,000.00 each and had nominated his wife as nominee. The sum assured is Rs. 1,75,000.00 for natural death and Rs. 3,50,000.00 for accidental death. Our GM (Operations) Shri P.R. Varatharajan handed over the insurance amount of Rs. 3,50,000.00 plus the RD amount with interest to the claimant immediately. The family thanked the Bank not only for its scheme but also for its efforts to get the claim amount within a short span of time.

Download the Application Form: