PERSONAL FINANCE
Tamilnad Mercantile Bank Limited (TMB) is an Indian bank having its head office in Thoothukudi, Tamil Nadu. It was established in 1921.
Tamilnad Mercantile Bank Limited (TMB) is an Indian bank having its head office in Thoothukudi, Tamil Nadu. It was established in 1921. Interest rates have changed for fixed deposits under Rs. 2 crores, according to the bank's official website. On September 1, 2022, the revised rates will go into effect. The bank will now offer fixed deposits with maturities ranging from 7 days to 10 years and interest rates ranging from 2.75% to 5.75% as a result of the adjustment.
Tamilnad Mercantile Bank FD Rates
The bank now offers interest rates of 2.75% on fixed deposits with maturities between 7 and 14 days and 3.50% on term deposits with maturities between 15 and 45 days. Deposits that mature in 46 to 90 days will be charged an interest rate of 3.75%, and those that mature in 91 to 179 days will be charged an interest rate of 4.50%. Tamilnad Mercantile Bank will now offer an interest rate of 5% on fixed deposits maturing in 180 days or less than a year, while the bank will also guarantee an interest rate of 5.50% on fixed deposits maturing in a year.
The bank now offers interest rates of 5.75% on term deposits maturing in three to ten years and 5.60% on fixed deposits maturing in more than a year but less than two years.
The bank provides elderly citizens with an additional rate advantage of 0.50% or 50 basis points on fixed deposits with maturities between one year and ten years.
Next week, on September 5, Tamilnad Mercantile Bank Ltd. will begin its initial public offering (IPO), which will conclude on September 7. The minimum lot size for the initial public offering (IPO) of 800 crores is 28 shares, and the pricing range has been established at 500 to 525. It is suggested that the offering be listed on both the NSE and the BSE because the company expects to raise 831.60 crores from it. As of March 31, 2022, the lender had 509 branches, of which 106 are located in rural areas, 247 in semi-urban areas, 80 in urban areas, and 76 in metropolitan areas. Tamilnad Mercantile Bank is well-known throughout Tamil Nadu thanks to its 369 branches.
Raima Sen mourns Bharat Dev Varma's demise, pens emotional note for 'great father, great husband'
DNA TV Show: Ahead of Maharashtra poll results, MVA, Mahayuti engage in resort politics
Maharashtra: Stage set for assembly poll results; Mahayuti, MVA confident of their victories
All set for vote counting in Jharkhand tomorrow; NDA, JMM-led alliances confident of winning
Watch: Australia star inquires Rishabh Pant about his next IPL team, gets 2-word reply
Shah Rukh Khan’s house Mannat was first offered to his industry rival…, but he refused because...
The Visionary Who Promises a Blue Sky for India: Holger Thorsten Schubart’s G20 Climate Speech
The Surge of High-End Living: Luxury Residential Market to Outpace Other Segments
FeFCon 2024 to be Held in Bangalore: A Premier Event on Fever Management
'That’s wild': Noida man turns cigarette butts into teddy bears in viral video, watch
London Airport evacuates passengers over security threat, thousands stranded
The World’s First Innovative Iron Supplement to Combat Iron Deficiency and Anaemia
Meet grandmother who became fashion icon after trying on her granddaughter’s clothes
IND vs AUS: Rishabh Pant joins Virat Kohli, Rohit Sharma in elite WTC list, becomes 3rd Indian to...
'All scripted drama...': Puneet Superstar allegedly assaulted by influencers in viral video, watch
Actress Ana de Armas caught kissing Cuban President Miguel Díaz-Canel’s son in viral photos
Oreshnik's Shadow: Will Russia's hypersonic missile force west to back down?
‘You’re So Beautiful’: World’s tallest woman meets world’s shortest woman over tea, pics go viral
Delhi-NCR Air Pollution: Consequences of GRAP-4 are drastic, may have adverse effects, says SC
Delhi-NCR Air Pollution: Schools likely to stay closed till..., check city-wise update
Maharashtra: 3 killed, 9 hospitalised after gas leak at fertiliser plant in Sangli
THIS farm is selling a cup of coffee for Rs 28000, but there's a twist, it is...
Chhattisgarh: 10 Maoists killed after encounter with security personnel in Sukma
Mukesh Ambani's SUPERHIT plan for Jio users, offers unlimited 5G access for 1 year for just Rs...
IND vs AUS 1st Test: KL Rahul's dismissal sparks DRS controversy in Perth Test
Dense fog, heavy rain predicted in these states till November 25; check here
Oreshnik Hypersonic Missile: Which nations are within its range?
Bihar teacher, principal reach school in drunken state; know what happened next
'I have faced a lot of...': Arjun Kapoor REVEALS his biggest fear amid break up with Malaika Arora
How millions of Indians may get affected due to US indictment of Gautam Adani in bribery case
Amid divorce rumours with Aishwarya Rai, Abhishek Bachchan says 'missing someone is okay but...'
After Bibles, watches and sneakers, Donald Trump is now selling autographed guitars, price is...
Delhi pollution: Air quality improves to ‘very poor’ category, AQI at...
Vladimir Putin's BIG threat, warns he could strike UK with new ballistic missile if...
Shillong Teer Results TODAY November 22, 2024 Live Updates: Check winning numbers here
Somebody misbehaved with Alia Bhatt on Highway sets then Imtiaz Ali had to...
Zomato CEO Deepinder Goyal reveals twist behind Rs 200000 job fee, closes application window
Days after Ratan Tata's demise, Tata Group's Rs 131000 crore company inks pact with ADB for...