Our Correspondent

Madurai, March 15

Tamilnad Mercantile Bank Ltd (TMB) has introduced a deposit scheme - `Santhosh Deposit' - exclusively for senior citizens.

The scheme serves both as a savings bank account and term deposit account. Also, the account has zero-balance facility. Deposits can be made for a minimum of 15 days and a maximum of five years. The bank offers 8 per cent interest rate under the scheme. Customers can deposit/withdraw money from any branch or any ATM of the bank all over the country free of cost.

(This article was published in the Business Line print edition dated March 16, 2006)
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