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• Tamilnad Mercantile Bank Limited

Tamilnad Mercantile Bank Limited

The Tamilnad Mercantile Bank Limited was set up in 1921 and we work towards protecting the interest of the middle class in and around Tuticorin. Last year we celebrated 100 years of its existence and now we have more than 500 plus branches with 12 regional offices and has good presence in south India. We give services like Net banking, Property Loans, Credit Cards, Debit Cards, NRI Banking, Private banking, Business Loans, Stocks and Shares, Account Services, Savings Account, Personal Loans and statements as well.

History of Tamilnad Mercantile Bank Limited

Tamilnad Mercantile Bank Limited was earlier known as the Nadar Bank and rechristened in November 1962 to have an impact beyond the Nadar community and become the most powerful bank in Tamil Nadu. We have around 600 plus branches and 600 plus ATM across the state of Tamil Nadu. Since 2011 the bank has registered tremendous growth and increase in the overhaul deposits. 

Shri M. V. Shanmugavel Nadar the honourable founder was elected as the first chairman and commenced its operations on November 11, 1921 in Thootukudi. We had only 4 branches in places like Shivakasi, Madurai, Virudhanagar and Thootukudi. We are the first cooperative bank in South India to make all the branches computerised. At present all the 600 plus branches are working using the software from Infosys known as the Finacle Software and achieved more than 100% productivity.

Shri K V Rama Moorthy is the CEO and MD of the Tamilnad Mercantile Bank Limited. The Head Office of this bank is in Thootukudi in Tamilnadu.

Banking Services offered by Tamilnad Mercantile Bank Limited

Tamilnad Mercantile Bank Limited is good in offering various banking services and they are given below as follows:

• SMS Alerts.
• Net Banking.
• Email Alerts.
• Tab Banking.
• E- Statements.
• Mobile Banking.
• POS Terminals.
• Demat Accounts.
• Utility Bill Payments.
• TMB Royal Account.
• 20--20 Deposit Account.
• Pearl Deposits Account.
• Equity Trading Accounts.
• TMB Dynamic Youth Account.
• Muthukuvial Deposit Accounts.
• General Savings Bank Account.
• Tax Savings Deposits Accounts.
• Savings Bank Premium Account.
• Navarathnamala Deposit Account.
• Kids Recurring Deposits Account.
• Basic Recurring Deposit Account.
• TMB Visa Savings Bank Account.
• TMB Mahila Suvidha Bank Account.
• Siranjivi Recurring Deposits Account.
• TMB Happy Family Savings Account.
• TMB Little Super Star Savings Account.
• TMB Santhosh Savings Bank Accounts.
• Simple and Basic Savings Bank Account.

Loans and credit facilities provided by Tamilnad Mercantile Bank Limited

There are various credit and loan services that are offered by the Tamilnad Mercantile Bank Limited and they are:

• TMB Rentals.
• TMB Car Loan.
• TMB Pensioner.
• TMB Jewel Loan.
• TMB Home Loan.
• TMB Doctor Loan.
• TMB Vyapari Loan.
• TMB Education Loan.
• TMB Personal Loan.
• TMB Gold Overdraft.
• TMB Two Wheeler Loan.
• Loan against Sovereign Gold Bonds.

Legal Issues

• In 2021 the directors of the Tamilnad Mercantile Bank Limited were asked to pay the penalty for undertaking the transfer of shares to foreign companies like FI Investments (Mauritius) Limited, Cuna Group (Mauritius) Limited, and Katra Holdings Limited, GHI I Limited, Swiss Re Investors (Mauritius) Limited, RST Limited, Kamehameha (Mauritius) Limited, Sub-Continental Equities Ltd, Mauritius, and Robert and  Adris James Company Limited, Mauritius not authorised by the top most banking institution known as the RBI.

Awards and Recognition

• Tamilnad Mercantile Bank Limited has won the prestigious “Social Banking Excellence Award”, sponsored by the ASSOCHAM India. 

Tamilnad Mercantile Bank Limited has 524 IFSC connected branches in India. Bank has branches in following states:

ANDAMAN AND NICOBAR ISLAND
ANDHRA PRADESH
CHHATTISGARH
DADRA AND NAGAR HAVELI
DELHI
GUJARAT
HARYANA
KARNATAKA
KERALA
MADHYA PRADESH
MAHARASHTRA
ODISHA
PUDUCHERRY
PUNJAB
RAJASTHAN
TAMIL NADU
TELANGANA
UTTAR PRADESH
UTTARAKHAND
WEST BENGAL