Tamilnad Mercantile Bank Fixed Deposit Interest Rates

Tamilnad Mercantile Bank is a private-sector financial institution offering its clients with lucrative fixed deposit scheme. The fixed deposit scheme comes with attractive returns on the deposits along with flexible tenures. Those looking to invest in some profitable products and optimize returns, this scheme can help them to allocate their funds based on their liquidity requirements.  

For regular and senior citizens, Tamilnad Mercantile Bank has provided with an updated list of fixed deposit rates:

Tenure

Regular FD Rates

Senior Citizen FD Rates

3 years & above

6.90%

7.40%

>777d - < 3 years

7.00%

7.50%

777 days

7.00%

7.50%

> 20m 20d - < 3 years

7.00%

7.50%

20 months 20 days

7.00%

7.50%

> 365 Days to < 20m 20d

7.00%

7.50%

365 Days

6.90%

7.40%

181 days - < 365 Days

6.75%

6.75%

6 Months

6.75%

6.75%

91 days - 179 days

6.50%

6.50%

61Days – 3 Months

6.00%

6.00%

46 Days – 2 Months

6.00%

6.00%

1 Month - 45 days

5.25%

5.25%

15 - 29 days

5.00%

5.00%

Tamilnad Mercantile Bank Short-Term FD Rates:

For the short-term holding period of one month, the rate of interest is calculated at 6.3% per annum, and it becomes 6.8% per annum for the deposit period of 2-3 months. Moreover, for the deposit period of four months, the rate of interest is increased by 0.45% to 7.25% per annum. For the tenures of six and nine months, the rate of interest is calculated at 7.5% and 7.3% per annum respectively. 

Tamilnad Mercantile Bank Medium and Long-Term FD Rates:

For the deposit period ranging between one and five years, the rate of interest varies from 7.95% to 8.10% per annum. For the lowest holding period of one year and highest holding period of five years, the rate of interest remains same at 7.95% per annum. Moreover, 7.95% is the rate of interest for the holding period between 2-4 years. The highest of 8.10% can be availed for the tenure of 777 days.

Tamilnad Mercantile Bank Senior Citizen FD Rates:

For the senior citizens, Tamilnad Mercantile Bank doesn’t provide with any special offer on their fixed deposits.

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