Tamilnad Mercantile Bank (TMB)

Overall Rating: star ratingstar ratingstar ratingstar ratingstar rating[4/5]Total Votes [ 7 ]  
Rate this page:
Tamilnad Mercantile bank
The Tamilnad Mercantile Bank, popularly known as TMB was established on 11th Nov, 1920 in Tuticorin. Prior to this, the bank was known as the Nadar Bank Ltd. Till the year 1947; the bank had only 4 branches. Now, it has 215 branches all over India with 7 regional offices and 11 extension counters. In fact, the Tamilnad Mercantile Bank has tie ups with IDBI Bank across 108 locations and HDFC Bank across 278 locations throughout the country. The TMB was voted the best bank in India in the year 2008.


The Tamilnad Mercantile Bank has a series of achievements and awards to its credit. In the Financial Year 2008-2009, the bank has received a few recognitions and appreciations. To begin with, the bank topped the list among 15 other banks in terms of performance in accordance to its Savings Bank Account in 2008. This was certified by a recognized agency of the Indian Banks Association.

Apart form this; the Tamilnad Mercantile Bank was also awarded the Dun & Bradstreet's Banking Awards for the best Indian Banks of the year 2009. The award was given for the Private sector bank in the rural category.

Products & Services:

Given below is a brief outline of the various services provided by the Tamilnad Mercantile Bank:-
  • Banking facility Anywhere Anytime
  • Mobile SMS Banking
  • Demat A/c Services
  • Processing Charges
  • Bill Payment Services
  • Smart Shoppers Visa Card
  • India Card Credit Card
  • Mutual Fund Marketing
  • RTGS, ECS & NEFT Service
  • W.U. Money Transfer
  • NCDEX Clearing
  • Citizen's Charter
  • Compensation Policy
  • Mobile SMS Banking
  • Demat A/c Services
  • Processing Charges
  • Bill Payment Services

Deposit Schemes

  • Fixed Deposit
  • Muthukkuvial Deposit
  • Navarathnamala
  • Deposit Interest Rates
  • Savings Bank A/c.
  • SB Premium A/c
  • Classic Salary SB A/c
  • Current A/c
  • Janatha Savings A/c
  • Cash Certificate
  • Pearl Deposit
  • Siranjeevee R. Deposit
  • Santhosh Deposit
  • Tax Saving Deposits
  • TMB Double Deposit

Retail Loans offered by the TMB

  • Loan for Two Wheeler's
  • Car Loan
  • Personal Loan
  • House Rent Loan
  • Short Term Education Loan
  • Doctor Loan
  • Gold Over Draft
  • Pensioner Loan
  • IPO Finance Loan
  • General Credit Card

International Banking

  • Forex Services & Rates
  • Forex Analysis
  • Inward & Outward Remittances
  • Facilities for students going abroad
  • Credit Facility for Export

Tamilnad Mercantile Bank Loans

Tamilnad Mercantile Bank Ltd loans can be taken by all customers of the bank. The bank offers both Retail loans and Business loans. Tamilnad Mercantile Bank Ltd loans carry competitive interest rates.

Tamilnad Mercantile Bank Retail Loans

The Tamilnad Mercantile Bank Retail loans come with different interest rates. The lending rate starts from 11.5% and may go up to a maximum of 17.5%. Loans of a higher level of risk perception like Personal loans are bundled with higher interest rates.

Education Loans

Tamilnad Mercantile Bank education loans can be taken to pursue studies in India and abroad. Maximum quantum of loan for studies in India is `7.5 lakhs and for foreign studies-Rs. 15 lakhs.

House Rent Loan

This loan is given against future rental receipts. Maximum loan amount is pegged at `50 lakhs.

Personal Loan

The loan can be taken to purchase any product. Houshold expenses may also be met.

Car Loan

Tamilnad Mercantile Bank car loans can be utilized to purchase both new and old vehicles. Maximum loan amount is `50 lakhs for new vehicles. Loans for purchasing older vehicles are a maximum of `15 lakhs.

Gold Over Draft

Loans are given against gold metal as collateral. Maximum loan amount is `5 lakhs.

Tamilnad Mercantile Bank Business Loans

The Tamilnad Mercantile Bank business loans include the following categories:

Traders Loan

This loan can be utilized to meet business working capital and other requirements. Maximum quantum of loan is `20 lakhs.

SME Credit

This loan is used to meet the purchase requirements of machinery and equipment. Single borrower limit is capped at `2 crore. Group borrowers may take a maximum of `10 crores.

Contact Address

Tamilnad Mercantile Bank Limited
Head Office
57, V. E. Road, Tuticorin
Tamil Nadu, India. Zip: 628 002
Phone: + 91 461 2321382 / 2321929 / 2321932
Email: [email protected]
[email protected]

International Banking Division (IBD/Forex):
269/2-4 Avvaishanmugham Road
Royapettah, Chennai,
Tamil Nadu
Zip: 600 004
Phone: + 91 44 2813 1028 / 2813 1029
Email: [email protected]
All India Toll Free No: 18004250426.

Last Updated on May 19, 2015