Tamilnad Mercantile Bank Tamilnadu Mercantile Bank Limited (TMB) is a bank headquartered at Thoothukudi, Tamil Nadu, India. TMB was founded in 1921 as the Nadar Bank but changed its name to Tamilnad Mercantile Bank in November 1962 to widen its appeal beyond the Nadar community. The bank currently has 509 full branches throughout India, 12 Regional offices and eleven Extension Counters, six central processing centers, one Service Branch, four Currency Chests, 19 eLobby centers and 1094 Automated Teller Machines (ATM). The bank has been expanding its footprint all over India.

What is a Personal Loan?

An individual loan is a monetary item given to you by the banks or non-managing an account budgetary organizations where you acquire the cash from the bank or some other loan specialist at some rate of interest. You can utilize this measure of credit anyplace in your own life. The bank would not address you on the utilization of the credit sum.

Tamilnad Mercantile Bank Personal Loan Eligibility

Age of the applicant should be more than 21 years if he/she is salaried.
If the applicant is self-employed his/her age should be more than 25 years.
The self-employed customer should be paying ITR for last three years.
The CIBIL score of the customer should be more than 650 at least.
Salaried Individuals
  1. Salary: Rs 18,000 Monthly.
  2. Minimum and Maximum Age: 21 and 60 Years.
  3. Work Experience: Overall 3 years and one year of experience in the current job.
  4. *A person is getting a salary in cash is not eligible for availing Loan at affordable rates.
Self Employed Individuals
  1. Min and Maximum Age: 25 and 65 years.
  2. An Annual ITR of 2.5 to 3 lakh is required.
  3. Residence: Office or Home should be owned.
  4. Business Stability: Your business should be running from last 3 years with continuous profit.
  5. Telephone / Mobile at the office: Mandatory






Min 21 years, Max-60years

Min 21 years, Max 65 years


18000 per month at least

ITR of 2.5 lac minimum for last 3 years

CBIL Score

Should be 750

Should be 750

ID Proof

Addhaar Card/Pan Card/Voter Id

Addhaar Card/Pan Card/Voter Id

Address Proof

Addhaar Card/Pan Card/Voter Id /Passport/Driver License/Electricity Bill

Addhaar Card/Pan Card/Voter Id /Passport/Driver License/Electricity Bill

Employment Tenure

Minimum 12 year

Minimum 60 years

Minimum Loan Amount

i.5 lacs

2.5 lacs

Maximum Loan Amount

20 lacs






















Secured or Unsecured

The personal loan comes into the category of unsecured loans.this is so because the lender provides you the loan on his/her own risk. There is no collateral required in a personal loan. The bank won’t ask you to pledge any property as a security. It is completely based on credit history and your income.

Tamilnad Mercantile Bank Personal Loan Uses

  1. You can use this amount of loan for wedding purposes whether it is your wedding or your children’s.
  2. You can make use of this amount of money to renovate your home.
  3. Home renovation can also be a reason to get a personal loan.
  4. Some people get a personal loan to buy a car too.
  5. Farmers get a personal loan for their agricultural activities.
  6. Besides that, some people get a personal loan to fight with the financial crises. If someone is going through the financial ups and downs than the personal loan is the best option for them.
  7. A personal loan can also be used to meet educational expenses.

Tamilnad Mercantile Bank Personal Loan Features

  1. For the meeting, any of the personal need Personal Finance is the best solution to cater to all of the necessary funds without any hassle.
  2. No security requirements are there in the South Indian Bank. The bank would not ask you for any collateral or any guarantor.
  3. Easy documentation.
  4. Easy approval within 48 hours.
  5. The South Indian Bank provides a multipurpose loan. you can use this amount of loan to fulfill any of your personal need.
  6. Besides that, your loan will get approved very easily if you are eligible.
  7. After that, the loan is disbursed within two days if you have all the documents.
  8. Bank provides affordable interest rates. You can easily pay them.
  9. Flexible loan terms and conditions.

Tamilnad Mercantile Bank Personal Loan Documentation

Salaried Individual

Self Employed People

Latest 6-month bank statements

Latest 6-month bank statements

Last 2-months salary slips


Last 2 years Balance Sheet

Last 2 year Form 16

Last 2 Years ITR

Photocopy of Pan Card

PAN Card photocopy

Residence & Address Proof

Residence & Address Proof

2 passport size photographs

2 passport size photographs


One Identity Proof. (Aadhar Card/ PAN Card/ Driving License/ Voter ID Card/Passport)

One Residence Proof. (Aadhar Card/ PAN Card/ Driving License/ Voter ID Card/Passport)One Income Proof/Water and electricity bills/Rent Agreement).

Income Proof (Salary Slips of last three month or online bank statement

Tamilnad Mercantile Bank Personal Loan Interest Rate

Generally, the interest rate is 10.75% but it's not fixed. It directly depends on your monthly income, your job profile and credit score.

Processing Charges: Tamilnad Mercantile Bank Personal Loan

1.00% of Limit sanctioned without any maximum cap.

How to Apply?

These days applying for a personal loan isn't that repetitive procedure. You can without much of a stretch apply for a personal loan on the web, in any case, you can apply in a disconnected way either. Be that as it may, that turns out to be an exceptionally dull and complex process. Applying on the web for an individual advance is an extremely efficient process.

  1. Above all else visit www.dialabank.com
  2. After that fill the application frame on the web.
  3. Fill your essential data like your name, your email address, and your contact number.
  4. You will get a call brimming with help.
  5. There are no charges for this data.

Advantages of applying for a Personal Loan on Dialabank

  1. Leading all the client's reaction is brisk.
  2. From that point onward, before applying straightforwardly for a personal loan you will get all the commendable data.
  3. You will get a legitimate direction from the specialists and it is free of expense.
  4. Other than that, in the event that you apply on Dialabank, you will get bring down rates of enthusiasm on the advance.
  5. Besides, you will get full independence of your loan amount is dispensed rapidly as well.
  6. One additionally thing is that on the off chance that you apply on www.dialabank.com you will get a free record pickup office from your doorstep.
  7. You won't be charged a solitary rupee for the direction or the archive pickup office.
  8. You can likewise contrast the individual rates of premium and different banks as well.

Who can’t Apply?

  1. A man with a terrible record as a consumer can't have any significant bearing for an individual advance.
  2. From that point forward, if the age of the candidate is under 21 years then additionally the individual can't get the individual credit.
  3. In the event that the candidate is jobless and doesn't have any inflexible wellspring of salary then he can't make a difference for an individual advance.


Basically, the loan amount in this kind of loan can be used anywhere in the personal life. It can be used to purchase consumer durables/house-hold articles, to meet the marriage expenses, other family expenses, etc.


  1. Lien over Salary, Bonus and other emoluments.
  2.  Primary: Hypothecation of assets created out of the loan proceeds in case loan is sanctioned for purchasing Consumer Durables / House-hold articles. Suitable third party guarantee to be obtained, if necessary.
  3. Collateral: Obtention of collateral security need not be a prerequisite.
  4. Guarantee: If the employer does not undertake to deduct and remit the installment or the installment is not deducted from the salary account maintained by the branch, suitable guarantee from two worthy persons should be obtained.
  5. Pre-requisite: 
  6. Proof of income and certificate from the employer for the Take Home Salary.
  7. Undertaking from the employer to a deduct and remit the installment amount from the salary of the staff every month when the employer is agreeable for the same.


Maximum of 60 EMI, while fixing repayment, take-home salary of the employee, the remaining period of service, etc., will be taken into account so as to ensure that the loan amount is recovered within the period of service of the applicant.

How to Apply?

First of all visit www.dialabank.com.
After that, fill the online application form.
Enter your contact number.

Why choose Dialabank for Personal Loan?

It is very easy to avail loan from every bank online.
But Dialabank is only one place with different banks in hand.
It is a financial platform where you can check and compare different loan rates across different banks.
Even you can solve all of your queries on the phone by dialing toll-free number 60011600. You will get personalized service on the phone from our trained relationship manager.
Is CIBIL important in a Personal Loan?
CIBIL Plays a very important role in the approval of the Personal Loan. If your CIBIL Score is not good you will not be able to apply for a Personal Loan.