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Tamilnad Mercantile Bank Personal Loan

Tamilnad Mercantile Bank Ltd. offers personal loans @ 13.75% p.a. onwards, for loan amounts of up to Rs 10 lakhs and for tenures of up to 5 years. Borrowers can use the proceeds from this loan to purchase household articles/consumer durables, for meeting marriage related expenses or for other personal needs.
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HDFC Bank
10 Second Disbursal*100% Digital Process*Quick Disbursal
Max Loan Amt.Upto 25L
Rate of Interest9.99% - 12.5%
Tenure upto1-5 Years
Processing Fee6,500
ICICI Bank
100% Digital Process*Quick Disbursal
Max Loan Amt.Upto 25L
Rate of Interest11% - 13%
Tenure upto1-5 Years
Processing FeeUpto 2%
Axis Bank
Low Processing fee
Max Loan Amt.Upto 25L
Rate of Interest9.99% - 17.15%
Tenure uptoUpto 6 Years
Processing FeeUpto 2%
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How Can I Apply for a Personal Loan Online?

Get up to 40 Lakh in 5 Simple Steps

Step 1: Enter your mobile number in the application form

Step 2: Provide your personal details

Step 3: Enter OTP to verify your mobile number

Step 4: Select the loan purpose and loan amount

Step 5: Compare offers and apply for the best-suited loan

Tamilnad Mercantile Bank Personal Loan Highlights

Interest Rates 13.75% to 15.90% p.a.
Tenure Up to 5 years
Loan Amount Up to Rs 10 lakhs
Processing fees 1% of the loan amount plus applicable taxes

Tamilnad Mercantile Bank Personal Loan Interest Rates

The interest rate for Tamilnad Mercantile Bank Personal Loan ranges from 13.75% to 15.90% p.a. Although the lender has not disclosed the differential personal loan interest rates based on factors like their loan applicants’ credit scores, monthly income, occupation profile, etc., most lenders set their personal loan interest rates based on the aforementioned factors.

Tamilnad Mercantile Bank Personal Loan Fees and Charges

The processing fee for Tamilnad Mercantile Bank Personal Loan is 1% of the loan amount plus applicable taxes.

Loan Amount for Tamilnad Mercantile Bank Personal Loan

The loan amount for Personal loans from Tamilnad Mercantile Bank will be 10 times the gross salary of the loan applicant (as per the latest salary statement/bill) with the maximum amount not exceeding Rs 10 lakh.

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Tamilnad Mercantile Bank Personal Loan Eligibility Criteria

Stated below are the eligibility criteria for applicants eligible to apply for Personal Loan from Tamilnad Mercantile Bank.

  • The applicant should be between 21 and 54 years of age
  • The applicant should have a minimum gross salary of Rs. 20,000 per month
  • Permanent employees aged below 54 years, working in government departments, business/corporate houses or recognized educational institutions

Collateral/Security for Tamilnad Mercantile Bank Personal Loan

  • No collateral security is required for a credit limit of up to Rs 5 lakhs
  • For a credit limit of above Rs 5 lakhs:
    • A mortgage of vacant land or land and building property (excluding agricultural property) is considered
    • The property should preferably be residential and can be owned by the borrower or their family members
    • The collateral coverage should be at least 200% of the limit

How Can I Apply for a Personal Loan Online?

Get up to 40 Lakh in 5 Simple Steps

Step 1: Enter your mobile number in the application form

Step 2: Provide your personal details

Step 3: Enter OTP to verify your mobile number

Step 4: Select the loan purpose and loan amount

Step 5: Compare offers and apply for the best-suited loan

Avail Personal Loan for
All Your Needs

FAQs

The maximum amount that you can avail on a Tamilnad Mercantile Bank Personal Loan will be 10 times the gross salary of the loan applicant (as per the latest salary slip) with the maximum amount not exceeding Rs 10 lakhs.

Tamilnad Mercantile Bank Personal Loans come with a repayment tenure ranging up to 60 months.

No collateral security is required for a credit limit of up to Rs 5 lakhs for availing personal loan from TMB.

No, only a permanent employee (salaried professional) can apply for Tamilnad Mercantile Bank personal loan.

Yes, you can apply for Tamilnad Mercantile Bank personal loan to buy household items or to deal with any other personal expense.

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What our customers say

My Trust in Paisabazaar has Increased

I would like to take a moment to share my sincere feedback regarding the support I received from your team. The executive who assisted me was extremely professional, polite, and knowledgeable. They patiently understood my concern, explained the process clearly, and guided me step by step toward the right solution. I truly appreciate the transparency, timely responses, and genuine effort shown to help me.

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Lalit MaviFeb 12, 2026

Best Place for Taking Loans

I contacted customer care with a few queries, and I am very satisfied with the support I received. The representative was polite, patient, and explained everything clearly. My questions were resolved properly, and the overall experience was smooth and helpful. Thank you for the excellent customer service

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Kokil BarnwalFeb 12, 2026

Apne higher education ke liye loan liya tha

Muhje higher education ke liye loan chahiye tha. Paisabazaar pe apply kiya. Got it at the right time. Quite helpful.

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Puja DanuJan 22, 2026

Sabse jada helpful log the yaha

Maine bht jagah try kiya tha personal loan ka, yaha try kiya toh helpful log mille. Har steps mai aram se samjhaya or usse muhje loan lene mai jda dikkat nhi aayi.

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Anuradha GuptaJan 21, 2026

Best Advisor for Personal Loan

I would like to share my feedback regarding my recent interaction with Mr. Vipin Singh (employee id EW12967) After discussing the financial matters with him, I felt very satisfied with his approach and professionalism. He explained everything clearly, handled the discussion patiently, and ensured that all concerns were addressed effectively. His communication skills, positive attitude, and dedication towards his responsibilities truly reflect his commitment to the organization.

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20th Jan 2026Jan 20, 2026

Meri shaddi thi

Shadi mai bht kharche hote hai. Maine shaddi ke liye personal loan paisabazaar se liya tha. Process smooth tha or interest bhi sahi milla.

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Sadia KhatunJan 15, 2026

Perfect for Loan Solutions

Recently I had a conversation with Mr. Harsh ji. Thanks Mr. Harsh ji for providing a better solution in a very short period of time with very nice behaviour. Thank You very much.

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Amit ChahalJan 15, 2026

Travel ke liye personal loan liya tha

Mai bohot din se out of India ghumne jana chahti thi lekin jab jane ka time mila toh budget kaam padh raha tha, Paisabazaar se personal loan leke bht acha trip kiya. Maza agaya. Mere upar koi burden bhi nhi padha

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Tarini RoyJan 14, 2026

Easy personal loan available

Took personal loan. Good experience.

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Ruchika TiwariJan 14, 2026

Stress-free Laon Borrowing Process

There was a complication with my KYC verification. Paisabazaar’s Shazeb handled it swiftly and professionally. He ensured that I received regular updates, explained the resolution steps clearly, and most importantly, resolved the issue quickly. His prompt assistance and communication made the entire experience smooth and stress-free. Thanks to his efforts, the loan process was completed without further delays.

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Abhishek ThakuraJan 14, 2026
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