Tamilnad Mercantile Bank increases domestic term deposit rates

Tuticorin-based Tamilnad Mercantile Bank has increased its domestic term deposit interest rates by 25 basis points with effect from August 8. The interest rate for the maturity of one year increased to 10 per cent from 9.75 per cent and for senior citizens interest rate increased to 10.25 per cent from 10 per cent.