HDFC BankHDFC Bank TMC Credit Card – Benefits, Fees & Eligibility
Is the HDFC Bank TMC Credit Card Right for You?
The HDFC Bank TMC Credit Card is best suited for users who prioritize Business. With a joining fee of Nil and a renewal fee of Nil, this card offers free entry for new applicants. It offers Not Applicable as its primary reward mechanism.
Key Card Details
Nil
Nil
Not Applicable
Things to Consider
Does not offer traditional rewards points, cashback, or air miles benefits.
Revolving credit is strictly not permitted; 100% MAD must be paid on time.
Lacks specific welcome benefits or joining perks for new cardholders.
Benefits & Features
Reward Type
Not Applicable
Fees & Charges
Joining Fee
Nil
Renewal Fee
Nil
Fuel Surcharge Waiver
Ranges between 1% and 2.5%, varying based on the fuel station and the acquiring bank.
Pros & Cons
Pros
Key benefits and features of this card.
Streamlines business expenses and enhances operational efficiency for companies.
Offers seamless integration with existing ERP systems for modern businesses.
Provides robust control features like closed-loop payments and transaction restrictions.
Eliminates joining and renewal fees, making it a highly cost-effective solution.
Reduces administrative burdens by simplifying invoice management and cutting paperwork.
Cons
Key drawbacks and limitations of this card.
Does not offer traditional rewards points, cashback, or air miles benefits.
Revolving credit is strictly not permitted; 100% MAD must be paid on time.
Lacks specific welcome benefits or joining perks for new cardholders.
Fuel transaction surcharge applies, ranging from 1% to 2.5% per transaction.
No specific travel, movie, dining, or lounge access privileges are included.
Product Details
Designed as a commercial credit card for comprehensive business expense management.
Offers seamless integration with existing ERP systems for streamlined operations.
Provides robust control features including closed-loop payments and transaction restrictions.
Supports contactless payments for quick and secure retail transactions up to ₹5,000.
Requires 100% Minimum Amount Due payment by the due date; revolving credit is not permitted.
Centralizes company costs and simplifies the handling of multiple invoices and paperwork.
Benefits & Features
Reward Type
Not Applicable
What matters, explained clearly
Introduction
The TMC Card from HDFC Bank is a commercial credit card designed to streamline business expenses and enhance operational efficiency for companies. It positions itself as a tool for modern businesses, offering benefits such as easy integration with existing ERP systems, centralized company cost management, and efficient handling of multiple invoices, thereby reducing paperwork and processing times.
Welcome Benefits
No specific welcome benefits or joining perks are mentioned for the TMC Card.
Fees
- Joining Fee: NIL
- Renewal Fee: NIL
- Cash Processing Fee: 1% of the amount for all cash payments of card dues.
- Convenience Fee (applicable only on Dealer card): ₹300 per transaction.
- Reissue of Lost, Stolen or Damaged Card: ₹100 per card re-issued.
- Minimum Payment Amount: The 100% Minimum Amount Due (MAD) must be paid by the due date. Revolving credit is not permitted on the TMC Card.
- Late Payment Fees:
- ₹100 for amounts between ₹100 and ₹500.
- ₹750 for amounts above ₹10,000.
- Payment Return Charge: 2% of the payment amount, subject to a minimum charge of ₹450.
- Retrieval Fee: ₹125 per charge slip.
- Fuel Transaction Surcharge: Ranges between 1% and 2.5%, varying based on the fuel station and the acquiring bank.
Rewards
The TMC Card focuses on operational efficiencies and expense management benefits for businesses rather than traditional rewards points.
- Easy Platform Integration: Seamless integration with existing ERP systems.
- Multiple Invoice Management: Simplifies the handling of numerous invoices, cheque handling, and payment systems.
- Centralized Company Costs: All company expenses can be managed centrally using the purchase card.
- Reduced Transaction Processing: Cuts down on transaction processing time and overall costs associated with high-volume transactions.
- Paperwork Reduction: Alleviates extensive paperwork associated with requisitions and purchase orders.
- Inventory Management: Easily manage invoices and inventory from multiple airlines and hotels.
- Enhanced Control:
- Can be set as closed loop, allowing payments only to pre-selected merchants or merchant categories for safer transactions.
- Restrictions can be placed on cards as per transaction and vendor/merchant category for better control.
- Process Efficiency: Streamlines the purchase process and enhances overall process efficiency.
- Security Features: Offers variable controls and security features for better expense management.
Rewards Redemption Guide
The TMC Card is designed for business expense management and does not offer a traditional rewards points redemption program.
Card Eligibility Criteria
- Documents Required:
- Identity Proof: Aadhaar, PAN Card.
- Address Proof: Latest utility bill, passport.
- Income Proof: Latest salary slips for salaried individuals, income tax returns for self-employed individuals.
- Credit Limit: The credit limit will depend on various factors such as income, credit history, and eligibility criteria set by HDFC Bank.
Card Review
The TMC Card is an excellent choice for businesses looking to modernize and streamline their expense management. Its core strength lies in its ability to centralize company costs, reduce administrative burdens like paperwork and multiple invoice handling, and integrate seamlessly with existing ERP systems. The card offers significant operational efficiencies, making it ideal for companies with high-volume transactions. The absence of joining and renewal fees is a major plus, making it a cost-effective solution. However, businesses should note that it does not offer traditional rewards like points for movies or travel, and revolving credit is not permitted, requiring 100% of the Minimum Amount Due to be paid. Its robust control features, including closed-loop payments and transaction restrictions, enhance security and financial oversight.
Important Product Details
- Card Type: Commercial Credit Card.
- Issuing Bank: HDFC Bank.
- Fees: NIL Joining and Renewal Fees.
- Expense Management: Centralized company expense management.
- Operational Efficiency: Reduces transaction processing time and cost, alleviates paperwork, and simplifies invoice management.
- System Integration: Easy integration with existing ERP systems.
- Control Features: Offers variable controls, closed-loop payment options, and transaction/vendor category restrictions for enhanced security and oversight.
- Contactless Payments: Enabled for quick transactions at retail outlets, with a maximum of ₹5,000 per single transaction without a PIN in India (PIN required for amounts ₹5,000 or higher).
- Payment Terms: 100% Minimum Amount Due (MAD) must be paid by the due date; revolving credit is not permitted.
Other Details
- Application Process: To apply, visit the HDFC Bank online application page, complete the required details, and submit necessary documents.
- Terms and Conditions: Detailed Most Important Terms and Conditions are available and should be reviewed thoroughly.
- Disclaimer: Commercial Credit Card approvals are at the sole discretion of HDFC Bank Limited and are subject to documentation and verification. Interest rates are subject to change.