TRUST MONEY MAKING SCHEME (TMMS)

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Terms & Conditions

The name of the scheme is "TRUST MONEY MAKING SCHEME (TMMS)" and an Account holder subscribing to this scheme will be called TMMS Account holder.
An applicant can open TMMS account in his own name, in his/her spouse's name or in the name of his/her children operated by the guardian.
An FDR for the value combining client's own deposit and bank's contribution will be issued for three years at 10.00% which will be automatically renewed for further one term (Three Year).
After deposit made by the client, FDR for the respective amount with 3 years maturity at 10.00% interest will be issued and the original instrument after being duly discharged by the beneficiary will be retained by the bank under lien.
No interest will be payable if encashment would be occurred within 6 month. If the premature encashment would be occurred after six months but less than 3 years in that case he/she will be entitled to get prevailing saving rate. If it would be encased after 3 years but less than 6 years in that case he/she will be entitled his/her own deposit + interest on FDR for 3 years and interest at savings rate for rest period which shall be more than six months.
Installment will be started from the following month and deadline of each installment is 10th of every month.
In the event of discontinuation of the scheme, FDR will be encashed and the proceeds of which if any, after adjusting the outstanding loan with up to date interest will be paid to the client