Tamilnad Mercantile Bank Ltd.

Tamilnad Mercantile Bank Ltd, established in 1921, is one of India’s oldest banks operating in the centenary year. The thought of establishing a Bank under the guidance of the able Nadar business community was mooted out on the Anniversary of Nadar Mahajana Sangam held at Tuticorin in 1920. The proposal was in effect soon. The Bank was registered on May 11 1921 as “The Nadar Bank Ltd”. Tamilnad Mercantile Bank only had 4 branches until the year 1947 at Tuticorin, Madurai, Sivakasi and Virudhunagar.
The Bank now has 509 branches pan India, 12 Regional Offices, 11 Extensions Counters, 6 Central Processing Centres, 1 Service Branch, 4 Currency Chests and 1151 Automated Teller Machines. The Bank has tie-up arrangements with HDFC Bank in 531 locations and IDBI Bank with 136 locations, giving an effective branch network of 1176. The Bank has business tie-ups for investing in Mutual Funds, Payment Gateways, Remittance Facilities (both intra and international), insurance, and other underwriting options. The Bank business caters to both domestic and international customers with a product portfolio ranging from Saving accounts, Fixed Deposits, Recurring Deposits, Retail services, Retail loans, NRI account, Forex services, Business accounts, Business and Corporate lending.