Tamilnad Mercantile Bank Interest Rates on FD, Dec 2016

Fixed Deposit Interest Rate of Tamilnad Mercantile Bank

Last Updated 10th Dec 2016
Tenure General Rates Senior Citizen Rates
15 days to 29 days 5.00% 5.00%
30 days to 45 days 5.25% 5.25%
46 days to 60 days 6.00% 6.00%
61 days to 90 days 6.00% 6.00%
91 days to 179 days 6.50% 6.50%
180 days 6.75% 6.75%
181 days to 364 days 6.75% 6.75%
1 year 7.05% 7.55%
1 year 1 day to 619 days 7.05% 7.55%
20 months 20 days 7.05% 7.55%
621 days to 3 years 7.05% 7.55%
3 years 1 day to 10 years 7.00% 7.50%
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  • Tamilnad Mercantile Bank offers FD interest rates upto 7.05% per annum.
  • Interest on deposits with Tamilnad Mercantile Bank is typically compounded quarterly.
  • Tamilnad Mercantile Bank accepts deposits starting at Rs. 0 for various tenures.
  • For senior citizens (age more than 60 years), Tamilnad Mercantile Bank offers higher interest rate over and above rates mentioned below.
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FD Maturity Amount

Tamilnad Mercantile Bank Fixed Deposit – Premature Withdrawl

  • You may break you FD and withdraw your money subject to minimum moratorium requirements.
  • However, in case of premature withdrawal, Tamilnad Mercantile Bank .
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Loan against Tamilnad Mercantile Bank FD

  • Tamilnad Mercantile Bank offers loan upto 0% against its own deposit. Note that you cannot obtain a loan against FD from another bank.
  • Applicable rate of interest on loan against FD is typically 0.5% to 2% over the fixed deposit rate.

Tamilnad Mercantile Bank Interest Rates in your city. How and where to apply?

  • Keep your KYC documents - PAN card, address proof and photo ready.
  • In case you already hold an account with Tamilnad Mercantile Bank, you don’t need to submit KYC documents again.
  • To know more or apply, contact any of the branches of Tamilnad Mercantile Bank in your city - Find Tamilnad Mercantile Bank Branches here

About Tamilnad Mercantile Bank

The Tamilnad Mercantile Bank, popularly known as TMB, was established on 11th Nov, 1920 in Tuticorin, a port city in Southern Indian state of Tamil Nadu initially by the name "The Nadar Bank Ltd" to service the Nadar business community. The bank changed its name to Tamilnad Mercantile Bank (TMB) in November 1962 to widen its appeal beyond the Nadar community. TMB has now 388 branches, 10 Regional Offices, 11 Extension Counters, 2 Mobile Banking Branches, 6 Central Processing Centers, 1 Service Branch, 3 Currency Chests and 732 ATMs across India. The Bank was rated as the fastest growing Indian Bank for the five years from 2007 to 2012. It was also rated as the Best Bank in the Year 2010, 2011 and 2012, due to its fast and robust growth. The Bank reported net profit of Rs. 301 crores for FY2013-14. The total business of bank reached to Rs. 39,790 crores during the same period.

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News - Dec 2016
01st Sep 16 Tamilnad Mercantile Bank has reduced its MCLR from 1st September, 2016
Tamilnad Mercantile Bank has reduced its Marginal Cost Based Lending Rate (MCLR) by 10 basis point (bps) across maturities. The 1 year MCLR has been reduced to 10.15 percent from the current rate of 10.25 percent. The 3 month and 6 month MCLR has been reduced to 10.05 percent and 10.10 percent respectively. Similarly the Overnight MCLR has been reduced to 9.9 percent. These changes are effective from 1st September, 2016. The interest rates of home loans that have been disbursed after 1st April 2016 are linked to 1 year MCLR.
19th Feb 16 Daimler India signs MoU with Tamilnad Mercantile Bank
Daimler India Commercial Vehicles signed a MoU with TMB to provide tailor-made financing packages to customers across the country for modern BharatBenz trucks and buses
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