Tuticorin-based Tamilnad Mercantile Bank (TMB) has increased its domestic term deposit interest rates by 25 basis points in the slab of 121-170 days and 171 days to less than one year with effect from November 28.
Revised rates
According to Mr S. Selvan Rajadurai, General Manager, Business Development (HO), TMB, the revised rates have been increased from 8.50 per cent to 8.75 per cent and from 8.75 per cent to 9 per cent respectively.
The bank offers the highest interest of 10.25 per cent for one year to less than two years tenure, he added.