This Private Sector Bank Revises Interest Rates On Fixed Deposits

This Private Sector Bank Revises Interest Rates On Fixed Deposits

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Tamilnad Mercantile Bank FD Rates

With effect from 18th November 2021, the bank is now promising the following interest rates to the general public on their domestic deposits of less than Rs 2. Cr maturing in 7 days to less than 10 years.

Period Interest rates in % p.a.
7 – 14 days 2.75%
15 – 29 days 3.50%
30 – 45 days 3.50%
46 – 60 days 3.75%
61 – 90 days 3.75%
91 days – 179 days 4.50%
180 days – 270 days 4.75%
271 days to less than 1 year 5.00%
1 year 5.25%
Above 1 year to less than 20 months & 20 days 5.25%
20 months & 20 days 5.25%
Above 20 months 20 days to less than 2 years 5.25%
2 years less than 3 years 5.35%
3 years to 10 years 5.00%
Source: Bank Website

Tamilnad Mercantile Bank FD Rates For Senior Citizens

Tamilnad Mercantile Bank FD Rates For Senior Citizens

Senior citizens will continue to get an additional rate of 0.50% on their term deposits maturing in 1 year to 10 years. Here are the latest fixed deposit interest rates of Tamilnad Mercantile Bank provided to senior citizens.

Period Interest rates in % p.a.
7 – 14 days 2.75%
15 – 29 days 3.50%
30 – 45 days 3.50%
46 – 60 days 3.75%
61 – 90 days 3.75%
91 days – 179 days 4.50%
180 days – 270 days 4.75%
271 days to less than 1 year 5.00%
1 year 5.75%
Above 1 year to less than 20 months & 20 days 5.75%
20 months & 20 days 5.75%
Above 20 months 20 days to less than 2 years 5.75%
2 years less than 3 years 5.85%
3 years to 10 years 5.50%
Source: Bank Website

Tamilnad Mercantile Bank NRO Term Deposit Interest Rates

Tamilnad Mercantile Bank NRO Term Deposit Interest Rates

Tamilnad Mercantile Bank has also modified its interest rates on NRO deposits. Senior citizens should note that additional rates on NRO deposits are not applicable.

Period Interest rates in % p.a.
7 – 14 days 2.75%
15 – 29 days 3.50%
30 – 45 days 3.50%
46 – 60 days 3.75%
61 – 90 days 3.75%
91 days – 179 days 4.50%
180 days – 270 days 4.75%
271 days to less than 1 year 5.00%
1 year 5.25%
Above 1 year to less than 20 months & 20 days 5.25%
20 months & 20 days 5.25%
Above 20 months 20 days to less than 2 years 5.25%
2 years less than 3 years 5.35%
3 years to 10 years 5.00%
Source: Bank Website

Original news source Credit: www.goodreturns.in



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