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| TMB Bank Fixed Deposit Rates Highlights – 2025 | |
| Highest slab rate | 7.60% p.a. (300 days) Special Deposit Scheme (TMB 300) |
| For 1 year | 7.00% p.a. |
| For 2 years | 6.75% p.a. |
| For 3 years | 6.50% p.a. |
| For 4 years | 6.50% p.a. |
| For 5 years | 6.50% p.a. |
| Tax-Saving FD | 6.50% p.a. |
The interest rates are updated as of 20 November 2024
Tamilnad Mercantile Bank FD Rates
Fixed Deposit Rates on Domestic/NRO deposits of less than Rs 3 crore w.e.f. 17 October 2024
| Tenure | Interest Rates (% p.a.) | |
| Regular Citizens | Senior Citizens | |
| 7 to 14 days | 5.25 | 5.25 |
| 15 to 29 days | 5.25 | 5.25 |
| 30 to 45 days | 5.25 | 5.25 |
| 46 to 60 days | 5.25 | 5.25 |
| 61 to 90 days | 5.25 | 5.25 |
| 91 to 120 days | 5.75 | 5.75 |
| 121 to 179 days | 6.25 | 6.25 |
| 180 to 299 days | 6.50 | 6.50 |
| 300 days (TMB300) | 7.60 | 8.10 |
| 301 days to less than 1 year | 6.75 | 6.75 |
| 1 year to less than 400 days | 7.00 | 7.50 |
| 400 days (TMB400) | 7.50 | 8.00 |
| Above 400 days to less than 20 months and 20 days | 7.00 | 7.50 |
| 20 months & 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: 1. Additional senior citizen rates will not be applicable to NRO deposits
2. TMB has introduced special deposit scheme on 300 days – TMB SMART300 w.e.f. 11 December 2023
Tamilnad Mercantile Bank Tax Saver Deposit
| Tenure | Interest Rates (% p.a.) | |
| Regular Citizens | Senior Citizens | |
| 5 years to 10 years | 6.50 | 7.00 |
TMB Fixed Deposit Interest Rates on Bulk Domestic & NRO deposits of Rs 3 crore and above w.e.f. 14 August 2023
| Tenure | Interest Rates (% p.a.) |
| 7 to 14 days | 5.25 |
| 15 to 29 days | 5.25 |
| 30 to 45 days | 5.25 |
| 46 to 60 days | 5.25 |
| 61 to 90 days | 5.25 |
| 91 to 120 days | 6.00 |
| 121 – 179 days | 6.25 |
| 180 to 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 |
Suggested Read: Comparison of FD interest rates offered by Banks/NBFCs
Fixed Deposit Interest Rates on NRE deposits w.e.f. 10 April 2024
| Period | Interest Rates (% p.a.) | |
| For deposits below Rs 2 crore | For deposits Rs 2 crore and above | |
| 1 year | 7.00 | 7.25 |
| Above 1 year to less than 400 days | 7.00 | 7.00 |
| 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 |
Interest Rates on FCNR(B)/FCNR Plus/RFC Deposits w.e.f. 7 November 2024
| Currency |
Interest Rates (% p.a.) |
|||||
| Above 1 year | 1 year to less than 2 years | 2 years to less than 3 years | 3 years to less than 4 years | 4 years to less than 5 years | 5 years | |
| USD | 5.50 | 5.25 | 5.25 | 5.25 | 5.25 | 4.50 |
| GBP | 4.03 | 4.03 | 4.03 | 4.03 | 4.03 | 4.08 |
| EUR | 2.50 | 2.50 | 2.50 | 2.50 | 2.50 | 2.55 |
| CAD | 4.25 | 4.25 | 4.25 | 4.25 | 4.25 | 4.25 |
| 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 |
Types of Tamilnad Mercantile Bank FD Schemes
Fixed Deposit Account
- Tenure: 15 days to 10 years
- Nomination facility is available
- Depositors can avail loan against the deposit amount
- Monthly and quarterly pay-out options are available
- Premature withdrawal facility is available
Muthukuvial Fixed Deposit
- This is the reinvestment scheme wherein depositors can earn higher interest income on their deposit
- Minimum deposit amount: Rs 1,000 and thereafter in multiples of Rs 1,000
- Tenure: 1 year to 10 years
- Nomination facility is available
- Loan can be availed against the deposit amount
- Premature withdrawal of deposits is allowed
Tax Saving Deposit
- Deposits under this scheme are eligible for a tax deduction of up to Rs 1.5 lakh under Section 80C in each financial year
- Deposit amount: Minimum- Rs 100; Maximum- Rs 1.5 lakhs
- Tenure: 5 years to 10 years
- Lock in period: 5 years
- Deposit Types:
- Under TMB TSD (Malligai) Scheme, depositors have an option of receiving interest pay-out a monthly, quarterly, half-yearly and annual basis
- Under TMB TSD (Mullai) Scheme, interest is credited at the time of maturity with cumulative interest
- Nomination facility is available
- Loan against deposit and premature closure facility is not available
Pearl Deposit
- Tenure: 1 year to 10 years
- Compound interest is eligible and it can be withdrawn once in 3, 6, 9 and 12 months
- Nomination facility is available
- Premature withdrawal is allowed
- Depositors can avail loan against FD
20:20 Deposit
- Minimum deposit amount: Rs 1,000
- Tenure: 20 months & 20 days
- Nomination facility is available
- Depositors can opt for either monthly or quarterly interest pay-out option
- Premature withdrawal facility is available
- Depositor can avail loan against 90% of the deposit amount
TMB Premature Withdrawal of FD
Premature FD Closure is one of the most important features of fixed deposit schemes offered by TMB except for the tax saving scheme. The following points are noteworthy w.r.t. premature FD closure:
- Penalty of 1% shall be charged on the applicable rate of interest for the tenure for which the deposit remained with the bank
- Incentives offered, if any, shall be deducted
- If the withdrawal is made within 14 days from the date of commencement, no interest shall be paid
- The above-stated rules apply to senior citizens as well
TMB Loan against FD
Investors of fixed deposit schemes by the bank have the facility to take loans keeping their FD as collateral to mend a financial imbalance or to meet any financial requirement. This way they don’t have to go through the process of applying for a loan, submitting documents, and waiting for loan approval. A loan for up to 90% of the deposit amount can be taken as a loan.
Tamilnad Mercantile Bank FD Calculator
Investing in a fixed deposit is a sound choice to make so as to maximize one’s savings. When opening any FD scheme by Tamilnad Mercantile Bank, it is important to get an estimate of the maturity amount customers will get. Online FD Interest Rate Calculator available at Paisabazaar.com is designed to solve this purpose only. Customers need to enter the deposit amount, tenure, and prevailing TMB FD interest rates.