What is the highest Tamilnad Mercantile Bank (TMB) FD rate for senior citizens?

The highest Tamilnad Mercantile Bank (TMB) Senior Citizen FD rate is 7.70% p.a. on deposit for the tenure of 567 Days.

Is Tamilnad Mercantile Bank (TMB) FD Safe for Senior Citizens?

Tamilnad Mercantile Bank fixed deposits are safe as deposits up to ₹5 lakh per depositor per bank are covered under DICGC insurance.

Can senior citizens get a monthly income from a Tamilnad Mercantile Bank (TMB) FD?

Yes. Tamilnad Mercantile Bank (TMB) offers non-cumulative fixed deposits where interest can be paid monthly, quarterly, half-yearly, or annually.

What is the minimum amount required to open a Tamilnad Mercantile Bank (TMB) Senior Citizen FD?

The minimum amount required to open a Tamilnad Mercantile Bank (TMB) Senior Citizen Fixed Deposit is ₹1,000.

Is interest earned on Tamilnad Mercantile Bank (TMB) Senior Citizen Fixed Deposits taxable?

Yes. Interest earned on Tamilnad Mercantile Bank (TMB) Senior Citizen Fixed Deposits is taxable as per the applicable income tax slab. Banks may deduct TDS if annual FD interest exceeds the prescribed threshold limit.

Tamilnad Mercantile Bank (TMB) Senior Citizen FD Rates

Name: Tamilnad Mercantile Bank (TMB) Senior Citizen FD Rates
Brand: Interest Rates
Rating: 4.9 (12465 reviews)

Tamilnad Mercantile Bank (TMB) offers attractive FD rates for senior citizens ranging from 4.00% to 7.70% p.a. across tenures of 7 days to 10 years. Continue reading for the latest Tamilnad Mercantile Bank Senior Citizen FD rates.

TMB Senior Citizen FD Snapshot	Details
Highest Senior Citizen FD Rate	7.15%
FD Tenure Range	7 to 10 Years
Minimum FD Amount	Rs. 1000/-
Premature Withdrawal Facility	Available
Loan Against FD	Up to 90% of the fixed deposit amount.

Tamilnad Mercantile Bank Senior Citizen FD Rates (Less Than ₹3 Crore)

The table below provides a detailed breakdown of TMB Bank Senior Citizen FD rates for fixed deposits below ₹3 crore across different tenure options

Tenure	Senior Citizen FD Rates (per annum)
7-14 days	4.00
15-29 days	4.25
30-45 days	4.50
46-60 days	4.80
61-90 days	4.80
91-120 days	5.80
121-179 days	5.80
180-270 days	6.30
271 days to less than 1 year	6.50
1 year	7.30
Above 1 year to less than 456 days	7.20
456 days (TMB 456 Special Deposit scheme) @	7.50
Above 456 days to 566 days	7.10
567 days (TMB 567 Special Deposit scheme) @	7.70
Above 567 days to less than 2 years	7.10
2 years to less than 3 years	7.50
3 years to 10 years	7.20

Use the Tamilnad Mercantile Bank FD Calculator below to estimate the maturity amount and interest earned on your TMB fixed deposit based on your investment amount, tenure, and applicable FD rate.

Tamilnad Mercantile Bank Super Senior Citizen FD Rates

Tamilnad Mercantile Bank offers an additional interest rate to super senior citizens, typically individuals aged 80 years and above. Here is a breakdown of Tamilnad Mercantile Bank (TMB) super senior citizen fixed deposit rates:

Tenure	Super Senior Citizen FD Rates (per annum)
7-14 days	4.00%
15-29 days	4.25%
30-45 days	4.50%
46-60 days	4.80%
61-90 days	4.80%
91-120 days	5.80%
121-179 days	5.80%
180-270 days	6.30%
271 days to less than 1 year	6.50%
1 year	7.40%
Above 1 year to less than 456 days	7.30%
456 days (TMB 456 Special Deposit scheme) @	7.60%
Above 456 days to 566 days	7.20%
567 days (TMB 567 Special Deposit scheme) @	7.75%
Above 567 days to less than 2 years	7.20%
2 years to less than 3 years	7.60%
3 years to 10 years	7.30%

Compare Tamilnad Mercantile Bank (TMB) Senior Citizen FD Interest Rates with Other Banks

Several banks currently offer higher interest rates than Tamilnad Mercantile Bank for specific tenures. The table below compares TMB senior citizen Fixed Deposit rates with other banks' FD rates.

Bank	Highest Rate
Tamilnad Mercantile Bank	7.15% (13 Months)
Shivalik Small Finance Bank	8.50% (23 to 27 Months)
Suryoday Small Finance Bank	8.25% (30 Months)
Utkarsh Small Finance Bank	8.25% (666 Days)
Jana Small Finance Bank	8.00% (2 to 3 Years)
Mahindra Finance	7.80% (48 to 60 Months)
Yes Bank	7.75% 18 < 24 months and 36 to < 60 months)
Indusind Bank	7.75% (2 to 3 Years)
Slice Small Finance Bank	7.75% (18 Months 1 day to 18 Months 2 day
Shriram Finance Bank	7.75% (36 to 60 Months)
Bajaj Finance	7.75% (31 to 60 Months)
RBL Bank	7.70% (18 to 36 months)
Sundaram Finance	7.50% (24 to 60 Months)
Bank of India	7.60% (3 years)
ICICI Housing Finance	7.10% (45 Months)
Kotak Mahindra Bank	7.30% (2 to 3 Years)
Canara Bank	7.10% (555 Days)
ICICI Bank	7.10% (3 to 5 Years)
SBI	7.05% (5 to 10 Years)
HDFC Bank	7.00% (3 to 4 Years)
Bank of Baroda	7.25% (555 Days)