"TMB 444 days" deposit scheme launched

Tuticorin, Jan 21 (UNI) The Tamil Nadu Mercantile Bank Limited (TMB) has introduced a new "TMB 444 days" deposit scheme with effect from January 18.

The special feature of TMB 444 days was that the bank accepts deposits only for 444 days and offers an effective yield of nine per cent interest to general public and 9.25 per cent to senior citizens.

Under the scheme the public would receive Rs 10,000 by depositing Rs 9014 while the senior citizen would get the same amount by depositing Rs 8989, a bank release said here today.

UNI