General Public
Senior Citizen (+0.50% est.)
Super Senior Citizen (+0.75% est.)
*Selecting category suggests rates but does not auto-fill. Please enter the exact rate provided by the bank.
Total Investment:₹0
Interest Earned:₹0
Maturity Value:₹0
Note: This calculation assumes the interest is compounded according to the frequency selected. Actual TMB maturity values may vary slightly based on day counts, leap years, and TDS deductions.
About Tamilnad Mercantile Bank (TMB) Fixed Deposits
Tamilnad Mercantile Bank (TMB) offers a variety of Fixed Deposit (FD) schemes designed to provide secure returns on your savings. Whether you are looking for short-term parking of funds or long-term wealth creation, understanding how TMB FD rates are calculated is essential for financial planning. This calculator helps you estimate the maturity amount based on the principal, tenure, and applicable interest rate.
How TMB FD Interest is Calculated
Like most Indian banks, TMB generally calculates interest on Fixed Deposits using the Quarterly Compounding method for reinvestment plans (Muthukuvisal). This means the interest earned in a quarter is added to the principal, and interest for the next quarter is calculated on this increased amount. The formula used is:
A = P × (1 + r/n)^(n*t)
A: Maturity Amount
P: Deposit Amount (Principal)
r: Annual Interest Rate (decimal)
n: Compounding Frequency (4 for Quarterly)
t: Tenure in years
Current Rate Trends for TMB FDs
TMB frequently revises its interest rates based on RBI Repo rates and market liquidity. Typically:
General Citizens: Rates usually range between 6.00% to 7.50% depending on the tenure.
Senior Citizens: TMB typically offers an additional interest rate of 0.50% over the standard card rate.
Super Senior Citizens: For those aged 80 and above, there may be additional benefits or specific schemes offering higher returns.
Popular TMB Deposit Schemes
Fixed Deposit (Standard): Simple interest paid monthly, quarterly, half-yearly, or annually. Ideal for those needing regular income.
Muthukuvisal (Reinvestment Plan): Interest is compounded quarterly and paid at maturity. This yields a higher effective return and is best for long-term savings.
Tax Saving FD: A 5-year lock-in period deposit that qualifies for tax deductions under Section 80C of the Income Tax Act.
Tax Implications (TDS)
Interest earned on Fixed Deposits is fully taxable. If the interest income exceeds ₹40,000 in a financial year (₹50,000 for senior citizens), the bank will deduct Tax Deducted at Source (TDS). Submitting Form 15G or 15H can prevent TDS deduction if your total income is below the taxable limit.
function calculateTMBFD() {
// 1. Get input values strictly by ID
var principalInput = document.getElementById("tmb_deposit_amount").value;
var rateInput = document.getElementById("tmb_interest_rate").value;
var monthsInput = document.getElementById("tmb_tenure_months").value;
var compoundingFreqInput = document.getElementById("tmb_compounding").value;
// 2. Parse values to numbers
var principal = parseFloat(principalInput);
var ratePercent = parseFloat(rateInput);
var months = parseFloat(monthsInput);
var frequency = parseFloat(compoundingFreqInput);
// 3. Validation
if (isNaN(principal) || principal <= 0) {
alert("Please enter a valid Deposit Amount.");
return;
}
if (isNaN(ratePercent) || ratePercent < 0) {
alert("Please enter a valid Interest Rate.");
return;
}
if (isNaN(months) || months <= 0) {
alert("Please enter a valid Tenure in months.");
return;
}
// 4. Calculation Logic
// Formula: A = P * (1 + r/n)^(n*t)
// t in years
var timeInYears = months / 12.0;
// r as decimal
var rateDecimal = ratePercent / 100.0;
// Total number of compounding periods
var totalPeriods = frequency * timeInYears;
// Rate per period
var ratePerPeriod = rateDecimal / frequency;
// Calculate Maturity Amount
var maturityAmount = principal * Math.pow((1 + ratePerPeriod), totalPeriods);
// Calculate Interest Earned
var interestEarned = maturityAmount – principal;
// 5. Formatting Output (Indian Currency Format)
var formatter = new Intl.NumberFormat('en-IN', {
style: 'currency',
currency: 'INR',
minimumFractionDigits: 0,
maximumFractionDigits: 0
});
// 6. Display Results
document.getElementById("res_principal").innerText = formatter.format(principal);
document.getElementById("res_interest").innerText = formatter.format(Math.round(interestEarned));
document.getElementById("res_maturity").innerText = formatter.format(Math.round(maturityAmount));
// Show result section
document.getElementById("tmb_result_section").style.display = "block";
}
function adjustRateSuggestion() {
// This function is a visual helper to remind users to check rates
// It does not change the value to avoid overriding user input erroneously
var type = document.getElementById("tmb_citizen_type").value;
// Logic reserved for future API integration or static rate tables
// For now, relies on user input as per requirements for accuracy
console.log("Customer type changed to: " + type);
}