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Tamilnad Merc. Bank
Safety:Bank Safety:Good
•✓₹5l DICGC insuredDICGC insured up to ₹5L
Bank Overview
Type
PrivateHeadquarters
ThoothukudiFounded
1921Branches
622DICGC Coverage
₹5 LakhsFinancial Health Indicators(FY 2026)
NNPA
0.18%Strong
CAR
33.73%Strong
PCR
74.89%Strong
LCR
139.00%Strong
CASA
28.14%Fair
Fixed Deposit (FD) Interest Rates
| TENURE | General | Senior |
|---|
•For callable FDs < ₹3 Cr•Premature withdrawal penalty applies
Savings Account Interest Rates
| Deposit Slabs | Interest Rate |
|---|
Foreign Currency Non-Resident (FCNR-B) Deposit Rates
Maturity | USD | |
|---|---|---|
| Deposit Amount | Under $100K | $100K+ |
| 1 to <2 years | 5.10%BEST | 5.25%BEST |
| 2 to <3 years | 4.00% | 4.15% |
| 3 to <4 years | 3.90% | 3.90% |
| 4 to <5 years | 3.60% | 3.60% |
| 5 years | 3.50% | 3.50% |
NRI Fixed Deposit Rates (NRE & NRO)
| TENURE | Interest Rate |
|---|---|
1 year | 6.80% |
Above 1 year to <456 days | 6.70% |
456 daysSpecial FD | 7.10% |
Above 456 to 566 days | 6.60% |
567 daysSpecial FD | 7.25%BEST |
Above 567 days to <2 years | 6.60% |
2 to <3 years | 7.00% |
3 to 10 years | 6.70% |
•For callable NRE FDs < ₹3 Cr•100% tax-free in India•Premature withdrawal penalty applies
Frequently Asked Questions
As of September 2026, Tamilnad Merc. Bank offers up to 7.25% p.a. on Fixed Deposits and up to 6.00% p.a. on Savings Accounts based on the balance slabs maintained.
Yes, Tamilnad Merc. Bank is a scheduled bank regulated by the RBI. Your deposits (up to ₹5 Lakhs per depositor) are insured by the DICGC, which covers principal and interest across all account types.
The minimum tenure for a fixed deposit with Tamilnad Merc. Bank starts from 7 Days. Senior citizens receive an additional interest rate benefit of up to 0.50% p.a. over general citizen rates.
Tamilnad Merc. Bank offers tiered interest rates ranging from 2.60% to 6.00% p.a. depending on the balance slabs maintained in the savings account.
Yes, interest earned on deposits is taxable. Savings account interest is tax-free up to ₹10,000 per year (₹50,000 for senior citizens) under Section 80TTA/80TTB. FD interest is fully taxable, and TDS is deducted at 10% if interest exceeds ₹40,000 (₹50,000 for senior citizens) in a financial year.
Tamilnad Merc. Bank FD Calculator
Months
Days
MATURITY AMOUNT
₹1,06,975
MATURITY DATE
19 Sept 2027
Interest rate6.80% p.a.
Principal₹1,00,000
Total interest₹6,975
Indicative only. Actual figures may vary.