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IDFC First Bank Logo
IDFC First

Private Sector

vs
Tamilnad Mercantile Bank Logo
TMB

Private Sector

IDFC First Bank vs Tamilnad Mercantile Bank Recurring Deposit Comparison2025

Compare interest rates, features, and returns between IDFC First Bank (Private Sector) and Tamilnad Mercantile Bank (Private Sector).

IDFC First: Min ₹1,000
TMB: Min ₹100
Compare Your RD Returns
₹

Five Thousand rupees

₹1,000₹50,000
years
1 year10 years

Interest Rate Comparison

RD Interest Rates by Tenure

General rates across different tenures

Current selection: 3 years (1095 days) -IDFC First: % |TMB: %

Side-by-Side Rate Comparison

Direct comparison of general rates

IDFC First
TMB

Feature Comparison

Features
IDFC First
IDFC First
Private Sector
TMB
TMB
Private Sector
Minimum RD Amount
₹1,000
₹100
Current Interest Rate (Selected Tenure)
%
%
Premature Withdrawal Penalty
1%
1%
Official Rate Source
View Official RatesView Official Rates
IDFC First Bank
Private Sector Bank

Key Advantages:

Private sector bank with digital-first approach
Competitive FD rates up to 7.5% for senior citizens
Premium rates on select tenures (450 days - 2 years)
No penalty on premature RD closure for senior citizens
No penalty for missing RD installments
Senior citizens get +0.50% additional interest
Online account opening and FD booking
Tamilnad Mercantile Bank
Private Sector Bank

Key Advantages:

Private Sector Bank established in 1921
Consistently offers higher FD rates for several years
Special TMB400 deposit scheme at 7.00% for senior citizens
Low cost of operations compared to other banks
Senior citizen benefit of +0.10% on most tenures
Online FD booking through Internet & Mobile Banking
Strong presence across South India with 500+ branches
ISO 27001 certified for information security
NRE and FCNR deposits available for NRIs
Important: Recurring Deposit Safety & Insurance Coverage

₹5 Lakh Insurance Limit

The Deposit Insurance and Credit Guarantee Corporation (DICGC) provides insurance coverage of up to ₹5 lakhs per depositor per bank. This includes both principal and accrued interest for RDs.

⚠️ Recommendation:

Keep your total deposits (RDs + FDs + Savings) under ₹5 lakhs per bank. If you need larger investments, distribute them across multiple banks.

Smart Distribution Strategy

Multiple RDs: Open RDs in both IDFC First and TMB

Family Accounts: Use different family members' accounts for additional coverage

💡 Pro Tip:

RDs are perfect for goal-based investing. You can open separate RDs for different financial goals across different banks to maximize returns and safety.

Key Insights & Recommendations

Choose IDFC First If:
  • • Minimum amount: ₹1,000
  • • Private Sector banking preference
  • • Private sector bank with digital-first approach
  • • Competitive FD rates up to 7.5% for senior citizens
  • • Premium rates on select tenures (450 days - 2 years)
Choose TMB If:
  • • Minimum amount: ₹100
  • • Private Sector banking preference
  • • Private Sector Bank established in 1921
  • • Consistently offers higher FD rates for several years
  • • Special TMB400 deposit scheme at 7.00% for senior citizens
Best Strategy:
  • • Open multiple RDs for different goals
  • • Keep ≤₹5L per bank for insurance
  • • Compare rates before investing
  • • Consider branch convenience
  • • Review rates periodically

Ready to Invest in Recurring Deposits?

Use our individual bank calculators for detailed planning

IDFC First RD CalculatorTMB RD Calculator