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  #2  
July 16th, 2016, 12:43 PM
Super Moderator
 
Join Date: Mar 2012
Re: Rate Of Interest Of Tamilnad Mercantile Bank

Tamilnad Mercantile Bank TMB has been consistently offering higher rates of interest.

The rates are split for different segments to offer the highest rate of interest possible.

Apart from the Regular Domestic Deposits, they have special rates for High Value Deposits as well as even higher interest rates for Senior Citizens of India.

Savings Account Deposit Interest Rate-

Amount / Interest Rate (p.a.) Regular Citizens Senior Citizens

Above 1 Lakh 4.25% 4.25%
Upto 1 Lakh 4.00% 4.00%

Above Interest Rates applicable from Nov 03, 2015.

Rates offered on daily closing balance in SB Account and compounded half yearly.

Domestic & NRO Term Deposits

For all Bulk Deposits above the ceiling amount specified in the table below, refer to the Bulk Deposit table further below.

Period / Interest Rate (p.a.) Regular Citizens / NRO Dep Senior Citizens
Upto Amount Rs. 15,00,000 Rs. 15,00,000

5 years - 10 years 7.70% 8.20%
Above 20m 20d - < 5 years 7.70% 8.20%
20 months 20 days 7.70% 8.20%
Above 1y to < 20m 20d 7.70% 8.20%
1 year 7.75% 8.25%
181 days - < 12 months 7.30% 7.30%
180 days 7.50% 7.50%
91 days - 179 days 7.25% 7.25%
46 - 90 days 6.80% 6.80%
30 - 45 days 6.30% 6.30%
15 - 29 days 5.80% 5.80%

Bulk Domestic & NRO Term Deposits -

Period / Interest Rate (p.a.) Regular Citizens / NRO Dep Senior Citizens
Above 15 Lakhs & Upto Amount Rs. 99,99,999 Rs. 99,99,999

5 years - 10 years 7.65% 8.15%
Above 20m 20d - < 5 years 7.65% 8.15%
20 months 20 days 7.65% 8.15%
Above 1y to < 20m 20d 7.65% 8.15%
1 year 7.70% 8.20%
181 days - < 12 months 7.25% 7.25%
180 days 7.50% 7.50%
91 days - 179 days 7.20% 7.20%
46 - 90 days 6.75% 6.75%
30 - 45 days 6.25% 6.25%
15 - 29 days 5.75% 5.75%

Above Interest Rates applicable from Jul 01, 2016.

Additional rate of interest payable on term deposits to Senior Citizens shall not apply to NRO Term Deposits.

No interest will be payable, if the deposit is pre-closed within 14 days.

Please note that Interest Rates are subject to change without notice


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