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    TamilNad Mercantile Bank Fixed Deposit Rates

    Institution Name
    Deposit Amount Range
    Tenure Range
    Interest Rate
    Up to ₹1Cr
    15 Days to 10 Years
    5.8% - 8% Quarterly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know
    NRI - FD
    Up to ₹1Cr
    1 Year to 10 Years
    7.45% - 7.5% Quarterly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know

    TamilNad Mercantile Bank Fixed Deposit Rates is Rated as "Pretty good" by 3 Users

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    How to find the best rates for Tamilnad Mercantile Bank Fixed Deposit

    Tamilnad Mercantile Bank is a private-sector banking institution. As part of its retail product suite, the bank offers its clients fixed deposits at competitive interest rates and differing durations. These savings products are designed to help customers allocate their funds so as to optimise returns based on their liquidity requirements.

    Tamilnad Mercantile Bank Short-Term FD Rates

    Tamilnad Mercantile Banks deposits can be held for a period of as short as 30 days for which the interest rate is 6.3%. It is increased by 0.5% to 6.8% for deposits of 60 and 90 days, and further increased by 0.45% to 7.25% for deposits of 120 days. Holdings for a period of 6 and 9 months earn returns of 7.50% and 7.30% respectively.

    Tamilnad Mercantile Bank Medium and Long-Term FD Rates

    These rates range from 7.95% to 8.10% for tenures ranging between 1 year and 5 years. On the lower end of the spectrum is the 1-year deposit, which earns interest @ 7.95%, and at the higher end is the 5-year deposit earns the same rate. The highest rate of interest offered by TMB is for the tenure 777 days which earns interest @8.10%. Interest rates for durations between 2 years and 4 years are constant at 7.95%.

    Tamilnad Mercantile Bank Senior Citizen FD Rates

    There are no special rates offered to senior citizens.

    The banks short-term rates are quite competitive when compared to its peers, offering investors an ideal mode of investment when liquidity is important. All rates mentioned above are compounded on a quarterly basis.

    News About Tamilnad Mercantile Bank Fixed Deposit Rates

    • Tamilnad Mercantile Bank Fixed Deposit Rates

      A private sector banking institution, Tamilnad Mercantile Bank (TMB) offers domestic and NRO term deposits at attractive rates of interest. As per the latest directive of the Reserve Bank of India (RBI) on repo rate cuts, TMB has changed interest rates offered on fixed deposits with varying terms.

      Domestic and NRO term deposits of amount up to Rs 1,50,000 for a term duration of 400 days attracts interest rates of 7.95% (regular deposits) and 8.45% (senior citizens deposits). For bulk deposits and NRO term deposits below Rs 1 crore interest rate of 7.95% (regular deposits) and 8.45% (senior citizens deposits) for a tenure of 400 days. These revised rates are applicable to the deposits from April 01, 2016.

      5th April 2016

    • Tamilnad Mercantile Bank Reduces Interest Rates on Fixed Deposits

      Tamilnad Mercantile Bank (TMB) has decreased the interest rates on fixed deposits of up to Rs. 15 lakh for a period of 1 year and more.

      For a period of 1 year to 554 days, the rate of interest earlier was 7.95 percent, which has been brought down to 7.80 percent. A 555-day deposit, which used to yield 8.05 percent interest, will now give you 7.85 percent. The interest rate was reduced from 7.95 percent to 7.75 percent for a tenor of 556 days to 20 months-and-19 days.

      For 20 months-and-20 days, the interest earlier was 7.95 percent, which has declined to 7.80 percent. The interest rate was reduced from 7.95 percent to 7.75 percent for a tenor of more than 20 months-and-21 days to 776 days. A 777-day deposit, which used to give 8.10 percent interest, will now give you 7.90 percent.

      The interest for 778 days to less than 5 years now stands at 7.75 percent, down from 7.95 percent earlier. Fixed deposits of 5 to 10 years will now fetch you 7.80 percent instead of the 8.05 percent earlier.

      Senior citizens can avail an additional 0.50 percent interest in maturity for all tenors. There is no change to interest rates on deposits of more than Rs. 15 lakh.

      4th February 2016

    • Interest Rates of Tamilnad Mercantile Bank

      Tamilnad Mercantile Bank offers fixed deposits at competitive interest rates with varied durations. These savings products are designed to help customers allocate their funds in order to optimize maximum returns based on their liquidity requirements. Fixed deposit products from Tamilnad Mercantile Bank offer attractive rates and are highly sought-after. Following the directive from the Reserve Bank of India, the rate of interest at TMB has been revised.

      Two new slabs have been added in domestic and NRO deposits for regular customers as well as senior citizens of deposits up to Rs. 1,500,000. For the period of 777 days, the interest rate offered for regular citizens and senior citizens are 8.10% and 8.60%, respectively. In the next slab which has a tenure of 778 days to less than 5 years, the rate of interest applicable for regular customers and senior citizens is 7.95% and 8.45%, respectively.

      26th November 2015

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