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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 Fee₹ 6,500
Axis Bank
Low Processing fee
Max. Loan Amt.Upto ₹25L
Rate of Interest9.99% - 17.15%
Tenure uptoUpto 6 Years
Processing FeeUpto 2%
Kotak Mahindra Bank
Lowest Income requirement100% Digital Process*
Max. Loan Amt.Upto ₹25L
Rate of Interest9.98% - 17.2%
Tenure upto1-5 Years
Processing Fee1.1% - 1.5%

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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

Explore Our Tamilnad Mercantile Bank Lenders

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What our customers say

Highly recommended platform

I applied for a personal loan for medical emergency through Paisabazaar and got amazing service like nowhere else. The team was extremely cooperative and followed up with me until I had my loan amount in my account. My loan was disbursed within 24 hours. It is indeed an excellent platform for taking loans.

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Sunil YadavOct 29, 2025

Instant loan disbursal

I applied for a personal loan through Paisabazaar and got my loan disbursed in no less than 24 hours. The team was extremely cooperative, guided me through the entire process and followed up with me until I had my loan amount in my account. I highly recommend this platform to everyone looking for an urgent loan.

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Neha JainOct 29, 2025

Excellent platform

Excellent platform for personal loan comparison! Their EMI calculator helped me pick the best tenure & my monthly emi.

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Manish KumarOct 23, 2025

Got personal loan instant

I was a medical emergency &amp; need funds instantly I applied for loan at Paisabazaar &amp; see I have a pre approved offers &amp; apply to it &amp; amount disbursed in 48 hours thanks to paisabazaar teams

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Mansi SharmaOct 17, 2025

Got loan yesterday

I got a loan of 2 lakh from Paisabazaar. Until now, I didn&#x27;t know that it was so easy to get loan through Paisabazaar. They helped me with all documents and process and my loan was sanctioned yesterday itself.

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Priyanka SharmaOct 15, 2025

Got personal loan in a few minutes

I had pre-approved offers. When I applied through Paisabazaar, I got my personal loan approved within a few minutes. The process was very hassle-free and the team was extremely cooperative.

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Preeti SinghSep 26, 2025

Cibil kam tha fir bhi loan dila diya

Mera cibil kam tha fir bhi paisabazaar walo ne loan dila diya mujhe jo bohot jaruri tha.

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Pawan SehrawatSep 25, 2025

Personal loan quick approved

My personal loan was quick approved on Paisabazaar. Everything was online and I was not required to submit any more documents.

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Vivaan ShahSep 24, 2025

Loan Approved in on day

I confused between HDFC & Axis personal loans, but Paisabazaar showed me all the offers side by side. I apply in 10 minutes and got approval the next day!

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Rahul MehtaSep 23, 2025

Personal loan mila yahaan se

Mujhko personal loan mila yahaan se bina koi dikkat hue. Maine toh online apply kiya aur 3 lakh ka loan mila 2 saal ke liye.

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Pankaj SinhaSep 22, 2025
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