How to find the best rates for Tamilnad Mercantile Bank Fixed Deposit
Tamilnad Mercantile Bank is a private-sector banking institution. As part of its retail product suite, the bank offers its clients fixed deposits at competitive interest rates and differing durations. These savings products are designed to help customers allocate their funds so as to optimise returns based on their liquidity requirements.
Tamilnad Mercantile Bank Short-Term FD Rates
Tamilnad Mercantile Banks deposits can be held for a period of as short as 30 days for which the interest rate is 6.3%. It is increased by 0.5% to 6.8% for deposits of 60 and 90 days, and further increased by 0.45% to 7.25% for deposits of 120 days. Holdings for a period of 6 and 9 months earn returns of 7.25%.
Tamilnad Mercantile Bank Medium and Long-Term FD Rates
These rates range between 7.95% to 8.05% for tenures ranging between 1 year and 5 years. On the lower end of the spectrum is the 1-year deposit, which earns interest @ 7.95%, and at the higher end is the 5-year deposit, which earns interest @8.05%. Interest rates for durations between 1.5 years and 4 years are constant at 7.95%.
Tamilnad Mercantile Bank Senior Citizen FD Rates
There are no special rates offered to senior citizens.
The banks short-term rates are quite competitive when compared to its peers, offering investors an ideal mode of investment when liquidity is important. All rates mentioned above are compounded on a quarterly basis.
No comments:
Post a Comment