• TamilNad Mercantile Bank Fixed Deposit Rates

    The Tamilnad Mercantile offers various financial services, one of which is fixed deposits (FDs). The bank offers lucrative rates of interest for FDs which start at 3.5% p.a. and goes up to 5.75% p.a. for the general public. For certain investment tenure, senior citizens are eligible for additional interest as well.

    Tamilnad Mercantile Bank Term Deposit Rates

    Fixed Deposit Interest Rates for Deposits of Less than Rs.2 crore

    Tenure General Citizen FD rates p.a. Senior Citizen FD rates p.a.
    15 days to 29 days 3.50% 3.50%
    30 days to 45 days 3.75% 3.75%
    46 days to 60 days 4.25% 4.25%
    More than 2 months to 3 months 4.25% 4.25%
    More than 3 months to less than 6 months 5.00% 5.00%
    6 months to 9 months 5.25% 5.25%
    More than 9 months to less than 1 year 5.25% 5.25%
    1 year only 5.75% 6.25%
    More than 1 year to less than 20 months 20 days 5.75% 6.25%
    20 months 20 days only 5.75% 6.25%
    More than 20 months 20 days to less than 2 years 5.75% 6.25%
    2 years to less than 3 years 5.65% 6.15%
    3 years to 10 years 5.50% 5.50%

    Note: The Tamilnad Mercantile Bank Domestic term deposit rates are subject to change as per the discretion of the bank. The rates provided above are effective as of 10 June 2021.

    Tamilnad Mercantile Bank Bulk Deposit Rates

    Tenure Rs. 2 cr to Rs. 5 cr Rs. 5 cr and Above
    15 days to 29 days 3.25% 3.25%
    30 days to 45 days 3.50% 3.50%
    46 days to 60 days 4.00% 4.00%
    More than 2 months to 3 months 4.00% 4.00%
    More than 3 months to less than 6 months 4.75% 4.75%
    6 months to 9 months 5.00% 5.00%
    More than 9 months to less than 1 year 5.00% 5.00%
    1 year only 5.45% 5.45%
    More than 1 year to less than 20 months 20 days 5.45% 5.45%
    20 months 20 days only 5.35% 5.35%
    More than 20 months 20 days to less than 2 years 5.35% 5.35%
    2 years to less than 3 years 5.25% 5.25%
    3 years to 10 years 5.15% 5.15%

    Note: The Tamilnad Mercantile Bank term deposit rates are subject to change as per the discretion of the bank. The rates provided above are effective as of 10 June 2021.

    Tamilnad Mercantile Bank Tax Saving FD Rates – TMB Tax Saving FD

    Tenure Regular FD rates p.a.
    5 years to 10 years 5.50%

    Tamilnad Mercantile Bank NRI Deposit Rates

    Fixed Deposit Interest Rates for NRE Deposits

    Tenure Less than Rs. 2 cr Rs. 2 cr to Rs. 5 cr Above Rs. 5 cr
    1 year only 5.75% 5.45% 5.45%
    More than 1 year to less than 18 months 5.75% 5.45% 5.45%
    More than 18 months to less than 2 years 5.75% 5.35% 5.35%
    2 years to less than 3 years 5.65% 5.25% 5.25%
    3 years to 10 years 5.50% 5.15% 5.15%

    Note: The Tamilnad Mercantile Bank term deposit rates are subject to change as per the discretion of the bank. The rates provided above are effective as of 10 June 2021.

    Fixed Deposit Interest Rates for NRO Deposits

    Tenure FD rates for General Citizens (p.a.) FD rates for Senior Citizens (p.a.)
    15 days to 29 days 3.50% 3.50%
    30 days to 45 days 3.75% 3.75%
    46 days to 60 days 4.25% 4.25%
    More than 2 months to 3 months 4.25% 4.25%
    More than 3 months to less than 6 months 5.00% 5.00%
    6 months to 9 months 5.25% 5.25%
    More than 9 months to less than 1 year 5.25% 5.25%
    1 year only 5.75% 6.25%
    More than 1 year to less than 20 months 20 days 5.75% 6.25%
    20 months 20 days only 5.75% 6.25%
    More than 20 months 20 days to less than 2 years 5.75% 6.25%
    2 years to less than 3 years 5.65% 6.15%
    3 years to 10 years 5.50% 5.50%

    Note: The Tamilnad Mercantile Bank term deposit rates are subject to change as per the discretion of the bank. The rates provided above are effective as of 10 June 2021.

    Tamilnad Mercantile Bank FCNR (B) Deposit Interest Rates

    The FD rates for Tamilnad Mercantile Bank deposits against specific foreign currency are as follows:

    Tenure Tamilnad Mercantile Bank FCNR (B) FD rate p.a.
    USD GBP EUR JPY CAD AUD
    1 Year to less than 2 Years 0.76 0.73 0.10 0.47 1.09 0.62
    2 Years to less than 3 Years 0.84 0.92 0.14 0.49 1.20 0.71
    3 Years to less than 4 Years 1.00 0.99 0.16 0.50 1.48 0.90
    4 Years to less than 5 Years 1.32 1.24 0.33 0.51 1.72 1.18
    5 Years Only 1.53 1.34 0.41 0.52 1.90 1.42

    Note: The Tamilnad Mercantile Bank term deposit rates are subject to change as per the discretion of the bank. The rates provided above are effective as of 10 June 2021.

    Features and Benefits of Tamilnad Mercantile Bank FD Schemes

    • The tenure for fixed deposits offered by the Tamilnad Mercantile Bank is a minimum of 15 days and can go up to 10 years.
    • Interest earned during the tenure can be withdrawn on a monthly or a quarterly basis.
    • The facility of nomination is available on FD schemes
    • Loans can be taken against the amount deposited (except for the tax saving FD scheme).

    Eligibility Criteria and Documents Required

    The following are eligible to invest in a Tamilnad Mercantile Bank Fixed Deposit Scheme:

    • Individuals
    • Sole proprietorships
    • HUFs
    • Limited companies
    • Partnership firms
    • Trusts
    • Associations, etc.

    The following documents are required to start investing in a Tamilnad Mercantile Bank Fixed Deposit Scheme:

    • Proof of Identity:
      • PAN card
      • Driving licence
      • Aadhaar card
      • Senior citizen ID (if applicable)
      • Photo ID card issued by the government
      • Passport
    • Proof of Address:
      • Utility bills such as electricity bill and telephone bill
      • Passport

    Type of Tamilnad Mercantile Bank Fixed Deposit Schemes

    Tamilnad Mercantile Bank offers the following categories of Fixed Deposit Schemes:

    • Basic FD
    • Muthukuvial FD
    • Santhosh FD
    • Tax Saving FD
    • Cash Certificate
    • Pearl Deposit
    • 20:20 Deposit

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