Tamilnad Mercantile Bank -- Fixed Deposit Interest


Tamilnad Mercantile Bank Ltd.
RATE ON DOMESTIC TERM DEPOSITS & NRO DEPOSITS

with effect from 01.09.2020

PERIODRate of Interest per annum (%)
General PublicSenior Citizens
Below 2 CroreBelow 2 Crore
15 days to 29 days3.503.50
30 days to 45 days3.753.75
46 days to 60 days4.254.25
61 days to 90 days4.254.25
91 days to 179 days5.005.00
180 days to 270 days5.255.25
271 days to less than 1 year5.255.25
1 year5.756.25
Above 1 year to less than 20 months 20 days5.756.25
20 months, 20 days@5.756.25
Above 20 months, 20 days to less than 2 years5.756.25
2 years to less than 3 years5.656.15
3 years to 10 Years5.505.50#

@ 0.50% penal interest will be charged for premature closure of 20:20 Deposits opened on or after 01.06.2016

# - Additional rate of interest payable on term deposits to Senior Citizens shall not apply for the period from 3 years to 10 years


INTEREST RATE ON NRE TERM DEPOSITS

with effect from 01.09.2020

PERIODRate of Interest per annum (%)
Below 2 Crore
1 year5.75
Above 1 year and upto 18 Months5.75
Above 18 Months to less than 2 years5.75
2 Years to less than 3 Years5.65
3 Years to 10 Years5.50

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