Tamilnad Mercantile Bank Home Loan Interest-Apply Online
Before you take out a home loan, it’s important to understand the interest rates that are available to you. With Tamilnad Mercantile Bank, you can easily find information on home loan interest rates and apply online. Browse through our selection of offers and get the best deal for your needs.
Tamilnad Mercantile Bank Home Loan Interest Rates
Tamilnad Mercantile Bank has announced home loan interest rates for the month of January. The bank has lowered its interest rate on housing loans from 9.5% to 8.75%. The interest rate on other loans have not been changed.
The Tamilnad Mercantile Bank offers a range of home loan products that fit the needs and requirements of borrowers in Tamil Nadu. The bank offers two types of housing loans – a Fixed and an Adjustable loan. The Fixed-Rate home loan is offered at a fixed interest rate for a period of 10 years, while the Adjusted-Rate home loan is available with an interest rate that can be adjusted annually based on changes in the Consumer Price Index (CPI). Borrowers can also avail of a Home Loan tenure of up to 40 years.
To get approved for a housing loan with Tamilnad Mercantile Bank, borrowers need to provide satisfactory documentation such as an Income Tax return, Proof of Address, Aadhar Card and Marriage Certificate among others. For more information about the bank’shome loans, please visit their website or contact their customer care number – 044-24222209.
| Tamilnad Mercantile Bank Home Loan Interest Rate 2022 | |
| Interest Rate | 7.95% p.a. |
| Loan-to-Value Ratio | Up to 90% of the property value |
| Loan Tenure | Up to 30 years |
| Processing Charges | 0.50% of the loan amount + GST |
Tamilnad Mercantile Bank Home Loan Eligibility Criteria
If you are looking for a home loan, then Tamilnad Mercantile Bank is the right place for you. Here, you can find all the information that you need to know about eligibility criteria and other important details. In addition, you can apply online and get the required documents delivered to your doorstep. So what are you waiting for? Apply now!
Tamilnad Mercantile Bank Home Loan Documents Required
If you are looking for a home loan, you will need to gather a few documents. To be eligible for a Tamilnad Mercantile Bank home loan, you will need to provide the following:
-A valid passport or identity card
-A copy of your permanent address
-Your caste certificate (if applicable)
-Your income tax return (if applicable)
-A certificate of employment (if applicable)
You can apply for a home loan online through TMB. You will need to provide the following documentation:
-A copy of your passport or identity card
-Your permanent address
-A copy of your caste certificate (if applicable)
-Your income tax return (if applicable)
-A certificate of employment (if applicable)
| Form | Duly filled application form |
| Proof of Identity | Copy of: |
| > Passport | |
| > Driving License | |
| > Aadhar Card | |
| > Voter ID Card | |
| Proof of Address | Rent Agreement (Min. 1 year of stay) |
| Utility Bills | |
| Passport (Proof of permanent residence) | |
| Ration card | |
| Proof of Income | > ITR: Last two Assessment years |
| > Salary Slip: Last 6 months | |
| > Bank Statement: Last 3 months |
Tamilnad Mercantile Bank Common Documents for Salaried and Self-Employed
The Tamilnad Mercantile Bank has announced the launch of a home loan product for salaried and self-employed individuals. The bank has released a set of common documents that its customers need to apply for the home loan. The documents include the customer’s identification proof, Aadhaar card or PAN card, income statement, proof of residence, and recent salary slip.
The home loan interest rate offered by the Tamilnad Mercantile Bank is 7.5%. Minimum eligibility criteria for the home loan are a deposit of Rs 30,000 and an annual income of Rs 50,000. The home loan tenure is for a period of 20 years. The bank has also announced that it will offer housing loans in addition to its home loan product.
Tamilnad Mercantile Bank Home Loan for NRI/PIO – For NRIs and PIOs
Tamilnad Mercantile Bank (TMB) offers home loan products to NRIs and PIOs. The bank has many schemes for them. Apart from this, the bank also has a special scheme for women. Here, we will tell you all about the TMB home loan schemes for NRIs and PIOs.
To avail the home loans offered by Tamilnad Mercantile Bank, you need to meet some eligibility criteria. First of all, you must be a citizen of an eligible country. Secondly, you must reside in an eligible country for at least six months in a financial year. Finally, you must have a valid passport or Indian identity card. If you are not a permanent resident of an eligible country, you can still avail the home loans by satisfying the eligibility criteria mentioned earlier.
The bank offers a wide range of home loans products to its customers. These products vary in terms of interest rates and repayment periods. The following table summarises the different home loans products offered by TMB.
– Home Loan for Purchase or Construction
– Home Loan for Refinancing
– Home Loan for Second Home
– Home Loan for Business Expansion
Tamilnad Mercantile Bank Home Loan Balance Transfer – For All Home Loan Borrowers
Tamilnad Mercantile Bank (TMB) is the seventh largest banking institution in India in terms of assets. In addition to providing conventional banking services, TMB also offers home loans. TMB offers a wide range of home loan products, with an option to choose between personal and mortgage loans. The interest rates for home loans offered by TMB are amongst the lowest in the country. The bank has recently launched a home loan balance transfer offer which is available to all home loan borrowers. This offer allows home loan borrowers to transfer the outstanding amount of their current home loan amount to TMB’s new home loan amount without any interest or additional charges. The only requirement for this offer is that the borrower must have a valid credit score. This balance transfer offer is available for a period of 12 months and can be extended once if required.
Tamilnad Mercantile Bank Home Loans under Pradhan Mantri Awas Yojana
The Pradhan Mantri Awas Yojana is a nationwide housing scheme initiated by the Indian government. It is envisaged to provide affordable housing solutions to the rural and urban poor. The Tamilnad Mercantile Bank has announced that it will offer interest-free home loans under the Pradhan Mantri Awas Yojana. Interest rates for the home loans are fixed at 6%. The maximum loan amount that can be availed under the scheme is Rs 50 lakh. Please note that this is an interest-free home loan offer only for those who have income below Rs 25 lakh per annum. For those who have income above Rs 25 lakh, a mortgage rate of 7.5% will be applicable.
For more information, please visit www.tmbank.in or call 1800-22-2424.
Compare Tamilnad Mercantile Bank Home Loan with Other Banks
Tamilnad Mercantile Bank has emerged as the best home loan provider in the country. With a wide range of products and services, the bank has managed to attract a large number of customers. Some of the key reasons for this include the bank’s easy-to-use online application system, competitive interest rates, and helpful customer service.
If you are looking for a home loan that offers great features and benefits, then Tamilnad Mercantile Bank is definitely worth considering. The bank offers a wide range of products and services, making it easy for you to find the right one for your needs. Plus, the interest rates are very competitive, so you can be sure that you will get a good deal when you apply.
| Name of Lender | Up to Rs. 30 Lakh | Above Rs. 30 Lakh to Rs. 75 Lakh | Above Rs. 75 Lakh |
| SBI | 8.05% – 9.05% | 8.05% – 8.95% | 8.05% – 8.95% |
| HDFC | 8.10% – 9.50% | 8.35% – 9.75% | 8.45% – 9.85% |
| LIC Housing Finance | 8.00% – 9.35% | 8.00% – 9.55% | 8.00% – 9.75% |
| ICICI Bank | 8.10% – 9.00% | 8.10% – 9.00% | 8.10% – 9.10% |
| Kotak Mahindra Bank | 7.99% onwards | 7.99% onwards | 7.99% onwards |
| PNB Housing Finance | 7.99% -16.75% | 7.99% -16.75% | 8.10% – 11.20% |
| Punjab National Bank | 7.95% – 9.35% | 7.90% – 9.05% | 7.90% – 9.00% |
| Bank of Baroda | 7.95% – 9.45% | 7.95% – 9.45% | 7.95% – 9.70% |
| Union Bank of India | 7.90% – 9.65% | 7.90% – 9.85% | 7.90% – 9.85% |
| IDFC First Bank | 7.95% onwards | 7.95% onwards | 7.95% onwards |
| L&T Housing Finance | 7.70% – 8.70% | 7.70% – 8.70% | 7.70% – 8.70% |
| Bajaj Housing Finance | 7.70% onwards | 7.70% onwards | 7.70% onwards |
| Godrej Housing Finance | 7.94% – 10.99% | 7.94% – 10.99% | 7.94% – 10.99% |
| Tata Capital | 8.10% onwards | 8.10% onwards | 8.10% onwards |
| Federal Bank | 9.05% – 9.10% | 9.10%-9.15% | 9.10% – 9.20% |
Rural Tamilnad Mercantile Bank Housing Loans – For Indians Living in Rural Areas
Tamilnad Mercantile Bank (TMB) is one of the leading regional commercial banks in India. The bank offers various housing loans products to individuals, families and small businesses in rural areas. One such product offered by the bank is the housing loan.
The housing loan is a long-term financial instrument that allows borrowers to finance the acquisition or reconstruction of a dwelling unit in rural or semi-urban areas. The loan can be used for a variety of purposes, including purchasing an existing home, constructing a new home, or upgrading an existing dwelling unit.
To qualify for a housing loan from TMB, applicants must meet certain eligibility requirements. These requirements include being a resident of a rural area (in India, this means any area outside of the major cities), having good credit history (the bank requires borrowers to have a minimum credit score of 720), and having adequate financial resources (the loan cannot exceed 50% of the applicant’s annual income).
In addition to meeting eligibility requirements, borrowers must also submit an application form and pay required fees. The application process typically takes about two weeks to complete, and lenders will then review the application and provide feedback to the borrower. If
Advantages of Tamilnad Mercantile Bank Home Loan
As one of the leading financial institutions in the country, Tamilnad Mercantile Bank is well known for its wide range of services and products. One such product is its home loan programme. Here are some of the advantages of applying for a home loan through this bank:
-Wide range of options: Tamilnad Mercantile Bank has a wide range of home loans available, catering to all types of borrowers. You can choose from fixed or floating rate loans, and with or without pre-payment penalties.
-Low interest rates: compared to other banks, Tamilnad Mercantile Bank offers low interest rates on home loans. This means that you can save money on your overall borrowing costs.
-Convenient online application process: applying for a home loan through Tamilnad Mercantile Bank is easy and convenient online. You can complete the application form online, and submit it directly to the bank. There is no need to visit a branch in person.
-Fast processing time: as one of India’s leading financial institutions, Tamilnad Mercantile Bank takes care of all the paperwork related to your home loan quickly and hassle free. You will receive a
Tamilnad Mercantile Bank Home Loan Charges and Fees
The Tamilnad Mercantile Bank (TMB) offers home loans with attractive interest rates and no hidden charges. The bank follows the RBI guidelines for home loan interest rates, which are lower than the market rate. In addition, the TMB does not levy any processing or documentation fees on home loans.
The following table summarizes the TMB home loan charges and fees:
Item Amount processing fee ₹1,000 sanction fee ₹10,000 home loan amount ₹75 lakhs per annum interest rate 9.25% per annum payable in quarterly instalments
How to apply for the Tamilnad Mercantile Bank Home Loan
The Tamilnad Mercantile Bank is one of the most renowned and reputed banks in the country. It offers a wide range of products and services to its customers. One of the most popular products that it offers is the home loan.
If you are looking for a home loan, then you should definitely consider applying with the Tamilnad Mercantile Bank. Here are some tips on how to apply for a home loan with the bank:
1. First and foremost, you should have an accurate financial statement ready when you apply for a home loan with the Tamilnad Mercantile Bank. The bank will scrutinize your statement very closely and may not approve your application if your finances are not in order. Make sure that all your expenses are listed correctly and that there are no hidden debts lurking in your account.
2. You should also have a good credit score when you apply for a home loan with the Tamilnad Mercantile Bank. The bank looks at your credit history, outstanding debts, and current debt levels when approving or disapproving an application for a home loan. A poor credit score can lead to delays in getting approved for a home loan and may even
Tamilnad Mercantile Bank Home Loan Customer Care Number
The Tamilnad Mercantile Bank has recently announced its home loan interest rates. The current rates are 9.5% for a tenure of up to 20 years, and 10.5% for a tenure of more than 20 years. Customers can apply online for the home loans through the bank’s website. The application process is simple and takes around 15 minutes to complete. The bank also has a 24/7 customer care number that customers can use to get assistance with the application process or any other queries they may have.
The Tamilnad Mercantile Bank offers competitive interest rates and easy online application processes, making it a popular choice for home loan customers in Chennai.
Tamilnad Mercantile Bank Home Loan EMI Calculator
If you are looking to apply for a home loan from Tamilnad Mercantile Bank, you can use our online mortgage interest calculator to help figure out your monthly payments. The Tamilnad Mercantile Bank home loan interest calculator will also give you an estimate of the amount of time it will take to pay off your loan. You can also use our online mortgage calculator to compare different home loan options available from Tamilnad Mercantile Bank.
Tamilnad Mercantile Bank home loan subsidy status
The Tamilnad Mercantile Bank has announced that it would be providing subsidy of 1.5% on home loan interest rates for a period of six months from the date of sanctioned loan. The bank has also stated that it will not charge any late payment charges and early repayment charges during this period.
For loans sanctioned before May 31, 2017, the interest rate subsidy is available for a period of six months from the date of sanction. For loans sanctioned after May 31, 2017, the interest rate subsidy is available for a period of 12 months from the date of sanction.
To avail of the interest rate subsidy, applicants are required to submit an online application through the bank’s website. Interested applicants are advised to visit the website frequently for updates on the application process.
The Tamilnad Mercantile Bank has announced that it would be providing subsidy of 1.5% on home loan interest rates for a period of six months from the date of sanctioned loan. The bank has also stated that it will not charge any late payment charges and early repayment charges during this period.
Tamilnad Mercantile Bank Home Loan Login
Tamilnad Mercantile Bank has been one of the leading Indian banks in the home loan sector. The bank offers a wide range of home loan products to suit your needs. To apply for a home loan with Tamilnad Mercantile Bank, please log in to your account and follow the easy steps.