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  • Tamilnad Mercantile Bank RD Interest Rates

    TAMILNAD MERCANTILE BANK RECURRING DEPOSIT
     5.0 / 5.0   by 8 users
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    Maturity SlabInterest Rate ( % p.a.)Senior Citizen Interest Rate (% p.a. )
    1 year6.97.4
    > 1y to < 20m 20d77.5
    20 months 20 days77.5
    > 20m 20d - < 3 years77.5
    777 days77.5
    > 777 days to 3 years77.5
    3 years & above6.97.4

    Get The Best Rates for a Tamilnad Mercantile Bank Recurring Deposit

    A recurring deposit is one of the easiest ways to save money. With an RD, you can put away a fixed sum of money every month and earn interest on it. At Tamilnad Mercantile Bank, there are 4 recurring deposit schemes on offer. You can avail of a basic RD which bears high interest rates and also has loan offers. You can open an RD for 1 to 10 years as per your convenience. You can also open RDs online. Deposits can be opened with a minimum of Rs. 10 in multiples of Rs. 10. Tamilnad Mercantile Bank also has designed a scheme to specifically help students to save, or parents to save for their children. There are also other schemes that include life insurance and remittance options.

    Tamilnad Mercantile Bank Short Term Recurring Deposit Interest Rates

    Short term RDs range between 180 days to less than 12 months. These tenures attract interest rates between 7.50% to 7.30% per annum.. Tamilnad Mercantile Bank offers a special rate of 7.50% per annum on deposits made for 1 year. These deposits are ideal to save up for desired retail products, holidays and so on.

    Tamilnad Mercantile Bank Medium Term Recurring Deposit Interest Rates

    Medium term deposits are 20 months 20 days to less than 5 years. These tenures also earn interest of 7.45% per annum.

    Tamilnad Mercantile Bank Long Term Recurring Deposit Interest Rates

    Long term deposits range between 5 to 10 years. These tenures also earn interest of 7.45% per annum. You will earn a greater amount of interest on these deposits with a higher interest rate. Plus, you have a longer tenure to earn it. These deposits are a long term investment designed to create wealth through savings.

    Tamilnad Mercantile Bank Senior Citizen Recurring Deposit Interest Rates

    Senior citizens can earn between 7.50% to 7.95% per annum on recurring deposits. Depending on the tenure chosen, the interest rate will vary. Tamilnad Mercantile Bank offers a special rate of 8.00% per annum on deposits made for 1 year.

    Tamilnad Mercantile Bank Kids Recurring Deposit Interest Rates

    This scheme is devised to help students save to meet higher costs of education. Parents can also open this deposit to save for their children. With this RD scheme, you will also receive preference for a TMB Education loan. The minimum tenure is 10 years with a deposit of Rs. 58 per month. These is no maximum limit set but the targeted maturity sum should not be less than Rs. 10,000.

    Tamilnad Mercantile Bank Navarathnamala Recurring Deposit Interest Rates

    This RD scheme is designed for savings and reinvestment. Any citizen of India above the age of 18 is entitled to open this RD. Parents or guardians can also open this deposit for minors. The deposit can be opened for 5 years or 10 years attracting interest of 8.05% per annum. Senior citizens will receive 8.55% per annum. At the end of the deposit, a lump sum amount will be paid out amounting to Rs. 10,000, Rs. 20,000 and multiples thereof. This scheme offers joint accounts, nomination facilities, standing instructions, loans against the deposit and pre-closure options.

    Tamilnad Mercantile Bank Siranjeevee Recurring Deposit Interest Rates

    Get the added benefit of life insurance cover with the Siranjeevee RD scheme. This offer is brought to you in association with Reliance Life Insurance Co. Ltd. This scheme offers nomination facilities, standing instructions, loans against the deposit and pre-closure options. This deposit is available to anyone above18 years and below 59 years.

    More you need to know about Recurring Deposit

    Read More Articles On RD

    News About Tamilnad Mercantile Bank Recurring Deposit Interest Rates

    • Tamilnad Mercantile Bank Revises Recurring Deposit Interest Rates

      Tamilnad Mercantile Bank in a recent announcement revised the interest rates for its recurring deposit accounts. The bank offers four recurring deposit schemes, all of which are great options towards securing a financial future by earning handsome interests on savings. The short term RD interest rate for a span of 180 days stands at 7.5% p.a for regular and senior citizens. For a period between 180 days to 12 months, the interest rates are 7.3% p.a. The one year interest rates stand at 7.50% and 8.0% p.a for regular and senior citizens respectively. For a duration greater than one year and between 20 months & 20 days, the interest rates stand at 7.45% and 7.95% for regular and senior citizens respectively. The same interest rates hold good for regular and senior citizens for any period more than 20 months & 20 days.

      9th September 2016

    • Revised Tamilnad Mercantile Bank Recurring Deposit Interest Rates

      The Recurring Deposit interest rates for Tamilnad Mercantile Bank have been revised, with the revision spelling more gains for investors.

      Investors will receive returns of 7.30% p.a for deposits amounting up to Rs.15 lakhs for a duration of 181 to 364 days. Investors making deposits up to Rs.15 lakhs for 1 year will receive 7.65% p.a. while senior citizens will receive 8.15% p.a. For deposit tenures between 5 years and 10 years, the interest rate is 7.60% p.a. for regular depositors and 8.10% p.a. for senior citizens (for amounts up to Rs.15 lakhs).

      4th August 2016

    Recurring Deposit - Sitemap

    TMB RD Rates Reviews

  • Page 1 of 1
    • Tamilnad Mercantile Bank Recurring Deposit
      "Good savings!"
      TAMILNAD MERCANTILE BANK
      0.5 5.0/5 "Blown Away!"
      Interest rate offered for the recurring deposit is 9%. Initially, they provided a good interest rate and now they reduced the interest rate. The maximum tenure is of 2 years for this RD account with Tamilnad Mercantile Bank. The account holder have to make the payment on monthly basis for this.
      Was this review helpful? 0
      , pune
      Reviewed on Feb 06, 2016
    • Tamilnad Mercantile Bank Recurring Deposit
      "Very interesting"
      TAMILNAD MERCANTILE BANK
      0.5 5.0/5 "Blown Away!"
      TMB is giving 7.6% for th recurring deposit for the minimum lock in period of one year. The amount to start the plan is Rs.5000. I visit the branch to open and within 20 minutes the process get completed. The executives are very friendly and transparent.
      Was this review helpful? 0
      , ghaziabad
      Reviewed on Jan 13, 2016
    • Tamilnad Mercantile Bank Recurring Deposit
      "Easy to reach"
      TAMILNAD MERCANTILE BANK
      0.5 5.0/5 "Blown Away!"
      This Bank is very close to my home and that was the reason I have my recurring deposit with Tamilnadu Mercantile Bank.The service provided was very good.I have been depositing for last 25years with them.My brother is the senior manager in this Bank so I dont have any issue.
      Was this review helpful? 0
      , tuticorin
      Reviewed on Nov 11, 2015
    • Tamilnad Mercantile Bank Recurring Deposit
      "Can provide better options"
      TAMILNAD MERCANTILE BANK
      0.5 4.0/5 "Great!"
      My wife is holding an RD with TamilNadu merchatile Bank and I am the one who is making the payment for that. This RD is more than 1.5 year they have introduced something new called as Naavar rathanmala scheme where I had to pay about 12700 per month for a period of 3 years and there is a 7 year lock in period and after 10 years I will get 10 lakhs,
      Was this review helpful? 0
      , kumbakonam
      Reviewed on Oct 23, 2015
    • Tamilnad Mercantile Bank Recurring Deposit
      "I closed It"
      TAMILNAD MERCANTILE BANK
      0.5 4.0/5 "Great!"
      I was holding a Reccuring Deposit account with TAMILNAD MERCANTILE BANK for almost 1.5 years. The rate of interest is very goo with them, my friends has suggested me to open an account with them. It was like totally 60 months plan and I will be paying some money every month. Due to some personal reason I closed this account.
      Was this review helpful? 0
      , vellore
      Reviewed on Oct 15, 2015
    • Tamilnad Mercantile Bank Recurring Deposit
      "Best "
      TAMILNAD MERCANTILE BANK
      0.5 4.5/5 "Excellent!"
      Its really good to maintain a recurring deposit with TAMILNAD MERCANTILE BANK because its a best place for saving.Its a 5years plan and after 10years I get best returns.The policy is named as navaratna mala.They provide user friendly service to the customer.
      Was this review helpful? 2
      , coimbatore
      Reviewed on Oct 09, 2015
    • Tamilnad Mercantile Bank Recurring Deposit
      "Wonderful"
      TAMILNAD MERCANTILE BANK
      0.5 5.0/5 "Blown Away!"
      I have the recurring deposit account with the Tamilnad Mercantile Bank. Interest rate is good with them and their branch executives are really helpful with them. Customer service is also good with them. I have not experience with online banking. I been with them from the last 7 years.
      Was this review helpful? 1
      , chennai
      Reviewed on Sep 09, 2015
    • Tamilnad Mercantile Bank Recurring Deposit
      "Good "
      TAMILNAD MERCANTILE BANK
      0.5 4.0/5 "Great!"
      I have a recurring deposit with TamilNadu Mercantile Bank and its really a good public sector.They do offer good interest rate which is around 9% and I am happy about the same.The customer service provided is really good and I get the deposited money with the good interest rate.They donâ??t collect any hidden charges in the process.
      Was this review helpful? 0
      , amritsar
      Reviewed on May 13, 2015
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