TMB Fixed Deposit Interest Rates 2025
The Tamilnad Mercantile offers various financial services, one of which is fixed deposits (FDs). The bank offers lucrative rates of interest for FD. The bank offers lucrative rates of interest for FDs which start at 5.25% p.a. and go up to 7.50% 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.3 crore
Period | General Citizen FD Rates (p.a.) | Senior Citizen FD Rates (p.a.) |
7-14 days | 5.25% | 5.25 |
15-29 days | 5.25 | 5.25 |
30-45 days | 5.25 | 5.25 |
46-60 days | 5.25 | 5.25 |
61-90 days | 5.25 | 5.25 |
91-120 days | 5.75 | 5.75 |
121-179 days | 6.00 | 6.00 |
180-270 days | 6.00 | 6.00 |
271 days to less than 1 year | 6.00 | 6.00 |
1 year to less than 400 days | 7.00 | 7.50 |
400 days | 7.50 | 8.00 |
Above 400 days to less than 20 months & 20 days | 7.00 | 7.50 |
20 months and 20 days | 7.00 | 7.50 |
Above 20 months 20 days to less than 2 years | 7.00 | 7.50 |
2 years to less than 3 years | 6.75 | 7.25 |
3 years to 10 years | 6.50 | 7.00 |
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 April 2024.
Tamilnad Mercantile Bank Bulk Deposit Rates
Period | Interest Rates (p.a.) |
7-14 days | 5.25 |
15-29 days | 5.25 |
30-45 days | 5.25 |
46-60 days | 5.25 |
61-90 days | 5.25 |
91-120 days | 6.00 |
121-179 days | 6.25 |
180-270 days | 6.50 |
271 days to less than 1 year | 6.75 |
1 year | 7.25 |
Above 1 year to less than 20 months & 20 days | 7.00 |
20 months & 20 days | 7.00 |
Above 20 months 20 days to less than 2 years | 7.00 |
2 years to less than 3 years | 6.75 |
3 years to 10 years | 6.50 |
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 14 August 2023.
Tamilnad Mercantile Bank Tax Saving FD Rates - TMB Tax Saving FD
Tenure | Regular FD rates p.a. |
5 years to 10 years | 6.50% |
Tamilnad Mercantile Bank NRI Deposit Rates
Fixed Deposit Interest Rates for NRE Deposits
Period | Less than Rs.3 crore | Bulk Deposits |
1 year | 7.00 | 7.25 |
Above 1 year to less than 400 days | 7.00 | 7.25 |
400 days | 7.50 | NA |
Above 400 days to less than 2 years | 7.00 | 7.00 |
2 years to less than 3 years | 6.75 | 6.75 |
3 years to 10 years | 6.50 | 6.50 |
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 April 2024.
Fixed Deposit Interest Rates for NRO Deposits
Period | General Citizen FD Rates (p.a.) | Senior Citizen FD Rates (p.a.) |
7-14 days | 5.25% | 5.25 |
15-29 days | 5.25 | 5.25 |
30-45 days | 5.25 | 5.25 |
46-60 days | 5.25 | 5.25 |
61-90 days | 5.25 | 5.25 |
91-120 days | 5.75 | 5.75 |
121-179 days | 6.00 | 6.00 |
180-270 days | 6.00 | 6.00 |
271 days to less than 1 year | 6.00 | 6.00 |
1 year to less than 400 days | 7.00 | 7.50 |
400 days | 7.50 | 8.00 |
Above 400 days to less than 20 months & 20 days | 7.00 | 7.50 |
20 months and 20 days | 7.00 | 7.50 |
Above 20 months 20 days to less than 2 years | 7.00 | 7.50 |
2 years to less than 3 years | 6.75 | 7.25 |
3 years to 10 years | 6.50 | 7.00 |
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 April 2024.
Tamilnad Mercantile Bank FCNR (B) Deposit Interest Rates
The FD rates for Tamilnad Mercantile Bank deposits against specific foreign currency are as follows:
| 1 year | Above 1 year but less than 2 years | 2 years and above but less than 3 years | 3 years and above but less than 4 years | 4 years and above but less than 5 years | 5 years only |
USD | 6.05 | 5.75 | 5.50 | 5.40 | 5.05 | 5.05 |
GBP | 4.03 | 4.03 | 4.03 | 3.98 | 4.08 | 4.08 |
EUR | 2.50 | 2.50 | 2.50 | 2.45 | 2.55 | 2.55 |
CAD | 4.75 | 4.75 | 4.75 | 4.75 | 4.75 | 4.75 |
AUD | 0.00 | 0.00* | 0.00 | 0.00 | 0.00 | 0.00 |
JPY | 0.24 | 0.24 | 0.24 | 0.24 | 0.24 | 0.24 |
CHF | 0.00 | 0.00* | 0.00 | 0.00 | 0.00 | 0.00 |
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 7 July 2024.
Features & Benefits of Tamilnad Mercantile Bank Fixed Deposits
- 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 Required Documents for TMB FD Account
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
Types 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
FAQs on Tamilnad Mercantile Bank Fixed Deposits
- What is the highest fixed deposit interest rate for Tamilnad Mercantile Bank?
The highest FD interest rates offered by Tamilnad Mercantile Bank are 6.50% for domestic deposits and 7.00% for senior citizens' deposits.
- What is the tenure of TamilNad Mercantile Bank Tax Saver Fixed Deposit Scheme?
The investment tenure for Tax Saver Fixed Deposit Scheme is 5 year to 10 years.
- Can a customer open an FD account online in Tamilnad Mercantile Bank?
Yes, Tamilnad Mercantile Bank allows its customers to open an FD account online through their portal.
- Can I avail nomination facility for Tamilnad MercantileBank Fixed Deposits?
Yes, nomination facility can be availed for Tamilnad Mercantile Bank Fixed Deposit schemes.
- Can I avail a loan against FD with Tamilnad Mercantile Bank?
Yes, the loan against FD facility is offered by Tamilnad Mercantile Bank. However, loan facility is not available on the tax saver FD schemes.
- What is the minimum amount required to open a bulk deposit account with Tamilnad Mercantile Bank?
The minimum amount required to open a bulk deposit account with Tamilnad Mercantile Bank is Rs.2 crore.
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