English

Rating Index

Pros

Strong historical performance with steady revenue and profit growth.

Extensive branch network primarily in Tamil Nadu, enhancing accessibility for customers.

Recognition as one of the fastest-growing private sector banks in India, indicating reliability and trustworthiness.

Cons

Significant portion of equity subject to ongoing legal proceedings, which may pose risks to reputation and financial stability.

Heavy reliance on specific customer segments (MSME, retail, and agriculture), making it vulnerable to economic fluctuations in these areas.

Concentration of operations primarily in Tamil Nadu, which may limit growth opportunities in other regions.

TMB Bank broker Accounts

Tamilnad Mercantile Bank Limited Account Types

Tamilnad Mercantile Bank Limited (TMB) offers a 3-in-1 account that combines banking, demat, and trading services into a single platform. This account provides a seamless trading experience powered by Religare Broking, featuring competitive brokerage prices, relationship manager assistance, and zero account opening fees. The account allows access to a wide variety of online trading and investment products, including:

Stocks
Derivatives
Commodities
Currency
IPOs
ETFs
NCDs
Global Investing
Health Insurance
Life Insurance
Mutual Funds
Debt/Fixed Income
NPS (National Pension System)

Additionally, customers can benefit from quality research, in-depth trading tips, investment ideas, and intraday trading recommendations.

Tamilnad Mercantile Bank Limited Broker Account Opening Process

To open a trading account with TMB, follow these steps:

Fill Up Personal Details: Complete the account opening form with your personal details.
Provide Correct Details: Ensure that all details provided to the representative are accurate.
Sign the Form: Sign the form and submit supporting documents.

Required Documentation:

Proof of Identity: PAN card, Aadhaar card, passport, voter ID, or driver's license.
Proof of Address: Aadhaar card, passport, voter ID, or driver's license.
Bank Proof: Cancelled cheque, copy of bank passbook, or copy of bank statement.
Income Proof: Copy of ITR, account statement for the last 3 months, salary slips, or copy of bank statement for the last 3 months.

Online Account Opening Steps:

Authenticate your mobile number and email ID with a one-time verification code.
Enter your Aadhaar linked PAN number and date of birth.
Fetch proof of identity and address from Digilocker or upload manually.
Share the IFSC code and account number of your active bank account.
Select the trading segments you wish to participate in.
Provide details of your valid demat account.
Capture a selfie and upload required documents.
Complete the e-signing of your online KYC form to submit your trading account opening request.

For more detailed information, visit Religare Online.