Rates verified from official source

Tamilnad Mercantile Bank interest rates · November 2026

Top FD rate
7.25%
567 days (TMB 567 Special Deposit scheme) · 567-day Special
Senior citizen FD
7.70%
567 days (TMB 567 Special Deposit scheme) · 567-day Special
Top RD rate
7.00%
2 years to less than 3 years
Savings rate
6.00%
Balance above ₹2 crore to ₹10 crore
Top NRE FD rate
7.25%
567 days (TMB 567 Special Deposit scheme) @
Top FCNR(B) rate
3.00%
USD · Tenure period below 3 years, irrespective of the amount

TMB FD rates

1 year6.80%Senior 7.30%3 years6.70%Senior 7.20%5 years6.70%Senior 7.20%
All tenures, calculator and comparison →

What will my FD earn at TMB?

Estimated value after 1 year · before tax ₹5,34,877 6.80% p.a. · ₹34,877 interest · quarterly compounding
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Plan your recurring deposit at TMB

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Before opening an RD

Estimates assume on-time monthly installments and quarterly compounding. Confirm the term, minimum installment, late payment rules, and early closure terms with the bank.

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Overview

Tamilnad Mercantile Bank (TMB) is a private sector bank, headquartered in Thoothukudi, established in 1921. Its headline 1-year FD rate of 6.80% is 0.34% above the private sector average of 6.46%, ranking #458 of 1033 banks on RateScan.in.

Headquarters
Thoothukudi
Established
1921
Branches
~550 approx.
Monitored since
20 Sept 2026
Ownership
Private sector bank (publicly listed)
Operates in
Andaman and Nicobar Islands, Andhra Pradesh, Assam, Chhattisgarh + 16 more states

Figures marked “approx.” are rounded public estimates as of 2024.

Financial health
CRAR
24.87%
Capital adequacy
Net NPA
0.36%
Bad loans (net)
Credit rating CRISIL
A+
Rating details ↓

Health indicators sourced from official 2025 disclosures. CRAR ≥ 16% = strong · Net NPA < 1% = healthy · Verify before investing.

Rates verified from official source. Scheduled private sector bank: deposits insured by DICGC up to ₹5,00,000.

RBI record

Every RBI press release since 1 Jan 2024 that names Tamilnad Mercantile Bank, newest first, each linked to RBI. Checked every week; last on 11 Nov 2026.

A monetary penalty is a fine for not following an RBI rule. On its own it does not stop the bank taking or repaying deposits; RBI does that through directions, which are listed here when they apply.

  1. RBI fined the bank ₹39.60 lakh

    RBI's reason: “for contravention of provisions of section 10A of Payment and Settlement Systems Act, 2007 (PSS Act) and section 26A of the Banking Regulation Act, 1949 (BR Act)”

    What RBI found

    “The bank had indirectly imposed charges on Basic Savings Bank Deposit (BSBD) account holders for making payment using Unified Payments Interface (UPI); and The bank had not transferred eligible amounts to the Depositor Education and Awareness Fund within the prescribed period.”

    RBI says: “The action is based on deficiencies in statutory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.”

    RBI press release 2025-2026/1509

  2. RBI fined the bank ₹1,31,80,000

    RBI's reason: “for non-compliance with certain directions issued by RBI on ‘Interest Rate on Advances’ and ‘Central Repository of Information on Large Credits (CRILC) - Revision in Reporting’”

    What RBI found

    “The bank (i) failed to benchmark the interest rate on certain floating rate loans to MSMEs to an external benchmark lending rate; (ii) adopted multiple benchmarks within the same loan category; (iii) failed to price certain floating rate loans with reference to actual benchmark rate applicable to those loans and (iv) wrongly reported external rating of certain borrowers to CRILC.”

    RBI says: “The action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transactions or agreement entered into by the bank with its customers.”

    RBI press release 2023-2024/2071

This record covers RBI press releases only. Other actions, such as those of a state's Registrar of Co-operative Societies, are not included.

Branches

638 branches in 124 districts

Most branches: Coimbatore 46, Tirunelveli 46, Thoothukudi 45

From RBI's IFSC directory (updated 1 Nov 2026). Counts can include recently merged or closed branches; check the bank's branch locator before visiting.

TMB Fixed Deposit rate changes

Changes to TMB's fixed deposit (FD) rates that RateScan.in has recorded since it started tracking them on 20 Sept 2026. Each date is when RateScan.in first recorded the new rate; the bank's own effective date is in the rate table above.

No change to TMB's fixed deposit (FD) rates has been recorded since tracking started on 20 Sept 2026.

Credit rating

What independent credit rating agencies say about Tamilnad Mercantile Bank. Every rating links to the document it comes from, so you can check it yourself.

A+
Headline rating
Fixed deposits · CRISIL · Stable
Adequate safety: low credit risk
Latest rating action: 11 Jun 2026
AgencyInstrument RatingOutlook PublishedSource
CRISIL Fixed deposits ₹15,000 cr A+ Stable Reaffirmed
11 Jun 2026
 Exchange filing
India Ratings Issuer rating AA- Stable Assigned
5 Oct 2026
 Exchange filing
CRISIL Certificates of deposit (short-term) ₹1,000 cr A1+ – Reaffirmed
11 Jun 2026
 Exchange filing

Note: Earlier versions of this page showed AA- (CRISIL). CRISIL's current rating on TMB's fixed deposits is A+ (Stable); India Ratings assigned an AA- issuer rating on 5 Oct 2026.

How to read these ratings
  • Scale: AAA is the highest long-term grade (lowest credit risk), then AA (very low risk), A (low risk) and BBB (moderate risk, the lowest investment grade). A + or − moves a grade up or down a notch. Short-term ratings such as A1+ cover obligations of up to a year.
  • Outlook: Stable, Positive or Negative is the agency's view of where the rating is likely to go over the next one to two years. Rating watch means the agency is reviewing the rating after a specific event, such as a change of owner.
  • Instrument: a rating belongs to a specific instrument, not to the whole bank. Tier I (AT1) and Tier II bonds can be written down if the RBI declares a bank non-viable, so they are usually rated no higher than the bank's deposits.
  • Headline grade: we use the rating on fixed deposits where an agency gives one; otherwise the issuer or Tier II rating. We take each agency's latest rating and show the lowest, so the headline is never more generous than any agency's latest view.
  • A rating is an opinion about the ability to repay on time. It is not a guarantee or a recommendation. Whatever the rating, deposits in a bank are insured by DICGC up to ₹5 lakh per depositor per bank (principal and interest together).

Sources: we list a rating only when we can point to the document that states it: the agency's own rating rationale, the bank's Regulation 30 filing on the NSE or BSE, a rating letter, or the bank's own rating page. A weekly automated check re-opens each linked document to confirm it still shows the grade and scans stock-exchange announcements for new rating filings. Last checked: 9 Nov 2026.

Check it yourself: CRISIL · ICRA · CARE · India Ratings · Infomerics

Ratings change. Confirm the current rating with the agency before you invest. This is information, not investment advice.

Good to know

  • Deposits with Tamilnad Mercantile Bank are insured by DICGC up to ₹5,00,000 per depositor per bank (principal and interest combined, across all its branches). Anything above that is not insured.
  • TMB is a private sector bank regulated by the RBI.
  • Senior citizens (60+) earn up to 0.50% p.a. more than general customers at TMB, depending on the tenure.
  • TMB's FD table includes 2 special schemes; check eligibility and end dates.
official Effective unavailable · Ingested 25 Oct 2026 · Verified 13 Nov 2026 · View source

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