I came to know about the TMB FCNR interest rates while trying to open a fixed deposit account at the Bank. I used to stay in the USA, and a few weeks back, I moved back to India. As I already had an account in Tamilnad Mercantile Bank, I was trying to open an FCNR account. To know about the details, I called the bank’s helpline. They provided me with all the required information, which I have added below.
What are the TMB FCNR Rates?
The customer executive guy asked me for how many years I would like to make the fixed deposit. I informed him I was looking for something around 3- 5 years. Following that, he provided me with a list, which I have added below.
Time |
Current Interest Rate (p. a) |
3 Years |
4.75 |
4 Years |
4.50 |
5 Years |
4.50 |
He also said that the interest in FCNR deposits is compounded at half-yearly and that there will be a penalty for premature closure of FCNR. And that is all I know about the FCNR interest rates of TMB. Hope this helps.
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Authors Of The Question
What is TMB FCNR Interest Rates?
Jharna
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1 Answers
52 days
2024-11-03T08:59:05+00:00 2024-11-03T19:14:55+00:00Comment
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