State wise list of TamilNad Mercantile Bank IFSC code, MICR code and addresses of all branches in India
(used for RTGS and NEFT transactions)
|MICR Code||MICR not provided.|
|Bank||TAMILNAD MERCANTILE BANK|
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Gone are the days of payment settlements in cash or even through cheque for that matter. We are entering a paperless universe with the advent of internet banking and electronic fund transfers. Tamilnad Mercantile Bank Ltd. (TMB) proudly offers its customers easy and efficient electronic modes of money transfer under the guidance of RBI. At TMB, you can transfer funds from your bank account to another account of either an individual or a firm, anywhere within the country.
In order to transfer funds using any of the modes of electronic fund transfer system, the customer needs to know the IFSC code of the beneficiary bank branch. RBI has assigned a code, serving as a unique identity of a particular branch of a bank, called as the Indian Financial System Code or IFSC. It comprises of 11 characters, a mix of numbers and alphabets. The name of the bank is denoted in the first 4 alphabets, the fifth digit is zero (0), the last set comprising of 6 characters is the branch code. The IFSC code of the bank is needed for NEFT and RTGS transactions.
Example: TMBL0000322 is the IFSC code of TMB, Madhya Pradesh’s Pithampur branch. Here, ‘TMBL’ stands for the name of the bank, i.e. Tamilnad Mercantile Bank Limited and the last 6 digits ‘000322’is Pithampur branch’s code.
You can easily find both IFSC and MICR codes online. RBI provides a comprehensive list of all the NEFT enabled banks mentioning their IFSC codes on their official website. TMB’s registered website also lists IFSC codes of all their branches. You can also look up IFSC and MICR codes on external websites for free. Such as BankBazaar, where you can follow these steps and find the IFSC code of the particular branch of TMB, you are looking for:
IFSC codes of each branch of the bank is printed on the leaves of the cheque book provided by the respective bank, at the time of account opening.
TMB Bank customers can transfer money from an account of any branch of the bank to another, anywhere in the country using NEFT and RTGS facilities.
National Electronic Fund Transfer (NEFT) at TMB:
TMB saves you from all procedural hassles and delays by offering you money transfer via NEFT system. This mode of transfer is best preferred for low value transactions as the settlement takes less time and the charge is nominal. TMB uses NEFT to transfer funds within banks that are a part of the NEFT network. TNB functions between 09:00am to 07:00pm, during which RBI makes 11-hourly settlements. Usually, the beneficiary bank gets the transaction message between 15 to 30 minutes post batch time. According to RBI’s rule, if the bank wants to cancel or return the transaction, it must be done within 2 hours of the next batch settlement. The beneficiary receives the fund within a day or by the next working day.
At TMB, for inward remittances, you are expected to input the account number without any errors for a seamless money transfer.
NEFT Charges at TMB (Outward Remittances):
Charge per transaction(+Time based tariff)
Rs.1,00,000 – Rs.2,00,000
Time Based Tariff:
09:00-12:00hrs – Nil
12:00-15:30hrs – Rs.1
15:30-17:30hrs – Rs.5
After 17:30hrs – Rs.10
Real Time Gross Settlement (RTGS) at TMB:
TMB was among the first banks to adopt RTGS facility in the country. All branches of TMB currently provide the facility of money transfer through RTGS. Through RTGS, customers can transfer money easily to any bank, irrespective of its branch location as long as it is RTGS enabled. Via RTGS, fund transfer takes place ‘Real Time’ as in it is instant and does not involve any waiting. Customers can now experience the fastest mode of money transfer using RTGS online.
‘Gross settlement’ through RTGS takes place within 09:00am to 04:30pm. In 2005, TMB introduced RTGS in 45 of its branches. Ever since, the bank saw an increasing number of RTGS transactions. This positive response led the bank to make all of its branches RTGS-enabled. In Tamilnadu, TMB is the first bank to adopt RTGS facility and it is the 3rd in the country to incorporate RTGS in all of its branches.
TMB does not levy any charge for inward RTGS transactions.
Rs.2 lakhs to Rs.5 lakhs – Rs.25 per transaction (+charge based on RTGS timings)
Above Rs.5 lakhs – Rs.50 per transaction (+charge based on RTGS timings)
Time Based Charge:
There is no charge on transactions through RTGS between 09:00am to 12:00pm. The charge for RTGS transfers between 12:00pm to 03:30pm is Rs.1, 03:30pm to 05:30pm is Rs.5 and after 05:30pm is Rs.10.
Established in 1921, TMB (Tamilnad Mercantile Bank Ltd.) was initially known as Nadar Bank Ltd. Over the years, TMB has proved itself to be a customer-focussed bank that offers seamless personalised services to its customers. Majority of TMB’s branches are located in rural, urban and semi-urban areas (403 out of 452).
Tamilnad Mercantile Bank (TMB) intends to initiate a special branch for Non-Resident Indians (NRIs) this financial year as informed by the CEO and MD of TMB, Mr. H S Upendra Kamath. This plan is still in the pipeline though and will be finalized in a few weeks. The first such branch will open either in Tamil Nadu and Kerala. NRIs can operate their accounts from abroad too. All you need is IFSC Code to do mobile banking and internet banking. The bank is aiming at an overall business of INR 55,000 crore this year compared to the INR 45,200 crore previous year. With 439 offices in the country, and 50 more to open this year, TMB is going places this year. It had started five e-lobbies in the previous year and will add 20 more this financial year. The bank is known for conducting camps for loaning for direct farming aims such as crop loans, tractor loans, and micro irrigation mortgages.
15th September 2015
A lead Bank scheme has been initiated by Tamilnad Mercantile Bank in Tuticorin for currency management. This scheme has been initiated after recommendations by the high-level committee headed by Mr.K.C.Chakraborty. The guidelines were made in June 2013 and the Reserve Bank of India identified Karur Vysya Bank for pilot launch. But, TMB voluntarily came forward to take up the duties of Lead Bank for currency management. This decision was accepted by the Reserve Bank of India encouraging TMB to launch the scheme in Tuticorin. TMB aims to make Tuticorin a ‘clean note’ district in future and also is hopeful of meeting RBI’s expectation in terms of currency management.
Tamilnad Mercantile Bank is a trailblazer in banking technology and offers state of the art e-Banking facilities to its customers. Tamilnad Mercantile Bank customers can easily perform time-consuming operations like fund transfer from the comfort of their home by mentioning the IFSC code of beneficiary bank with other details.
10th September 2015
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