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Tamil Nadu Mercantile Bank, headquartered at Tuticorin, was founded in 1921 as the Nadar Bank, it changed its name in November 1962 to widen its appeal beyond the Nadar community. It was rated as the fastest growing Private Sector Bank continuously for 5 years from 2010 to 2015. It currently has 488 full branches throughout India, 10 Regional Offices and 11 Extension Counters, 6 Central Processing Units, 1 Service Branch, 4 Currency Chests and 1015 ATMs. The Bank has thus been gaining a foothold all over the country.
About Tamilnadu Mercantile Bank
It was the first Private Sector Bank in India to introduce computerization for branch-level operations. It adopted modernization as early as the year 1983. Today, all 487 branches of the Bank are networked using Infosys’s FINACLE Software and have achieved 100% connectivity. Tamil Nadu Mercantile Bank services has always focused its attention on the customers from the very beginning and it is known for offering personalized service. With a vision to extend banking service to the common population of rural areas, it dotted more and more non-metro centres with its branches thereby expanding its service area in range, variety and magnitude. Out of its 488 branches, 430 branches are located at rural, semi urban and urban (non metro) centres.
Tamil Nadu Mercantile Bank finance has not only successfully implemented RTGS/NEFT facilities, but has also initiated a video conferencing facility to connect Head Office with various Departments and Regional Offices. Tamil Nadu Mercantile Bank banking services has introduced “Choose Your Account Number” facility to be accessed from anywhere by banking account holders. Other technologically advanced features like, Missed Call Banking (to check account balance), BSNL Bill Payment through branches, and RuPay Debit Card have also been introduced, besides the Mobile Application like TMB e-Passbook and TMB Locations.
Vision and Mission
The vision statement of the Bank is to be a progressive bank with strong brand equity, enhancing value for all the stake holders through excellence in performance and good governance. It aspires to develop a higher level of modernization to handle the business volume. Equipped with the noble thoughts and high ideas of the management team, it focuses on nurturing a dynamic spirit of action which will uplift the bank to greater heights, achieving growth and strength, and thus, eventually emerge as a model bank in the Banking industry. Be it in operation, customer service, or compliance to regulation, Tamil Nadu Mercantile Bank financial services aim to set a high standard for itself. The current mission of the Bank is technological up gradation and marching towards hi-tech Cyber Banking.
Tamil Nadu Mercantile Bank Loans
Tamil Nadu Mercantile Bank Home Loan : The home loan scheme extends financial assistance to buy/build one’s dream home at the best possible interest rate and longer repayment tenure with easy documentation and quick processing. Home Loans from Tamil Nadu Mercantile Bank are sanctioned based on the applicant’s past repayment record as well as his current income earnings. This loan can be availed for a variety of purposes, including – purchase of land and construction of house thereon, purchasing a new flat, purchase of old house/flat, etc. Individuals aged between 18 and 50 years are eligible for this loan. In case of Joint Borrowers, if any one of the applicant’s age id below 50, they can avail the loan under “TMB-Home” Loan Scheme jointly. In case of professionals like Doctors, Engineers, Lawyers, Chartered Accountants, etc. the upper age limit may be relaxed up to 60. As per Tamil Nadu Mercantile Bank loan details, the quantum of loan is up to Rs. 300 lakhs and for renovation, the amount is restricted up to Rs. 25 lakhs. The repayment period is 25 years excluding holiday period.
Tamil Nadu Mercantile Bank Personal Loan : This is arguably the most utilized loan scheme that can be used for various purposes, such as buying household appliances, planning a wedding, meting family expenses/emergency. It has been tailored keeping in mind the common man’s needs and interests. Tamil Nadu Mercantile Bank loan advantage under this scheme is that it is offered with minimal conditions, coupled with easy documentation and fast processing. Personal loan from Tamil Nadu Mercantile Bank may be availed by permanent employees, aged below 54 years, who are confirmed in the services of Govt. Departments, Reputed Corporates/Business Houses, Recognized Educational Institutions, etc. The repayment can be done in maximum 60 EMIs. While fixing repayment, the factors that are taken into account include, take home salary of the employee, the remaining period of service, etc. so as to ensure that the loan amount is recovered within the period of service of the applicant.