TMB Phoenix Credit Card – Benefits, Fees & Eligibility

Introduction

Tamilnad Mercantile Bank (TMB), a regional bank established in 1921 and headquartered in Thoothukudi, Tamil Nadu, offers a range of credit cards designed to meet diverse financial needs. The TMB Wings RuPay Credit Card is tailored for everyday expenses like bill payments and groceries, featuring a free credit period and insurance coverage. For business customers, the TMB Phoenix RuPay Platinum Credit Card facilitates transactions for utilities, tax payments, and insurance, also coming with no joining fee and insurance benefits. Additionally, TMB provides the TMB Platinum Credit Card for individuals maintaining term deposits, offering no joining or annual fees and flexible credit limits, alongside the TMB Titanium Credit Card, which is a lifetime-free option providing flexible credit limits and comprehensive insurance coverage. These cards aim to provide secure and convenient banking experiences for both personal and business use.

Fees & Charges Breakdown

• Joining Fee:
  • TMB Wings RuPay Credit Card: NIL
  • TMB Phoenix RuPay Platinum Credit Card: NIL
  • TMB Platinum Credit Card: NIL
  • TMB Titanium Credit Card: NIL
• Annual Renewal Fee:
  • TMB Wings RuPay Credit Card: ₹250 + taxes
  • TMB Phoenix RuPay Platinum Credit Card: ₹500
  • TMB Platinum Credit Card: NIL
  • TMB Titanium Credit Card: NIL
• Spend-Based Waiver Threshold:
  • TMB Wings RuPay Credit Card: Waived on spending ₹50,000 in any quarter of the calendar year.
  • TMB Phoenix RuPay Platinum Credit Card: Waived if spends ≥ ₹1,00,000 in a calendar year.
• Foreign Currency Markup:
  • TMB Wings RuPay Credit Card: 3.5%
  • TMB Phoenix RuPay Platinum Credit Card: Up to 3.50%
• Interest Rates:
  • Revolving Credit (TMB Phoenix RuPay Platinum Credit Card): 24% p.a. from transaction date.
  • Cash Withdrawal Interest (TMB Phoenix RuPay Platinum Credit Card): 24% p.a. from withdrawal date till repayment.
• Cash Advance Charges:
  • Cash Withdrawal at TMB ATM (TMB Phoenix RuPay Platinum Credit Card): 3% of transaction amount (Minimum ₹30).
  • Cash Withdrawal at Other ATMs (TMB Phoenix RuPay Platinum Credit Card): 3% (Minimum ₹30) + charges by other bank (if applicable).
• Add-on Card Fee:
  • TMB Wings RuPay Credit Card: Free add-on card.
  • TMB Titanium Credit Card: Free add-on cards.
• Card Issuance Charges (TMB Phoenix RuPay Platinum Credit Card): NIL
• Card Replacement Fee (TMB Phoenix RuPay Platinum Credit Card): ₹100
• Duplicate Statement Charges (TMB Phoenix RuPay Platinum Credit Card): ₹100 per statement (older than 2 months).
• Hotlisting Charges (TMB Phoenix RuPay Platinum Credit Card): NIL
• Late Payment Fee (TMB Phoenix RuPay Platinum Credit Card): ₹250 + GST (if Minimum Amount Due is not paid).

Card Eligibility Criteria & Income Requirements

TMB Wings RuPay Credit Card

• Must have an SB account with Tamilnad Mercantile Bank for at least 1 year.
• Minimum annual income of ₹3 lakhs.
• CIBIL score of at least 700.
• Required Documents: Latest 3 month’s payslips or IT returns for the last 2 years.

TMB Phoenix RuPay Platinum Credit Card

• Must hold a Current Account with Tamilnad Mercantile Bank for at least 1 year.
• Minimum annual income: ₹3 lakhs & above (as per ITR).
• At least 2 Income Tax Returns filed.
• Latest CIBIL Score: Minimum 700.
• Required Documents: Income Tax Returns (ITR) for last 2 years.

TMB Platinum Credit Card

• Best suited for people who can maintain individual term deposits of ₹50,000 and above for a minimum period of 3 years with the bank.

TMB Titanium Credit Card

• Minimum annual income of ₹2 lakhs or more.

Credit Card Review

Tamilnad Mercantile Bank offers a focused suite of credit cards catering to different customer segments, from everyday users to businesses and those with specific banking relationships. The TMB Wings RuPay Credit Card is an entry-level option with a low annual fee, waived on moderate spending, making it suitable for managing daily expenses. The TMB Phoenix RuPay Platinum Credit Card is specifically designed for business customers, offering a higher annual fee waiver threshold and detailed revolving credit terms. For customers with term deposits, the TMB Platinum Credit Card provides a lifetime-free experience with substantial credit limits and cash advance facilities. Similarly, the TMB Titanium Credit Card is also lifetime-free, offering flexible credit limits and free add-on cards. A key advantage across all cards is the provision of insurance coverage, including personal accident and lost card liability, enhancing security. The absence of a joining fee for all cards is a significant pro. However, the cards do not appear to offer traditional rewards programs, cashback, or travel/lounge benefits, focusing instead on core credit functionalities and security. These cards are best suited for existing TMB customers seeking basic, secure, and fee-conscious credit solutions.

Important Product Details

• Card Network:
  • TMB Wings RuPay Credit Card: RuPay
  • TMB Phoenix RuPay Platinum Credit Card: RuPay Platinum
• Card Validity:
  • TMB Wings RuPay Credit Card: 3 years
  • TMB Phoenix RuPay Platinum Credit Card: 3 years
  • TMB Titanium Credit Card: 3 years
• Credit Free Period: Up to 45 days for all cards.
• Credit Limits:
  • TMB Platinum Credit Card: Maximum limit of ₹5 lakhs, minimum limit of ₹20,000.
  • TMB Titanium Credit Card: Maximum limit of ₹5 lakhs, minimum limit of ₹20,000.
• Cash Advance & Withdrawal Limits:
  • TMB Platinum Credit Card: Cash advance of up to 25% of the credit card limit, maximum daily cash withdrawal limit of ₹25,000.
  • TMB Phoenix RuPay Platinum Credit Card: Cash advance limit of 25% of sanctioned credit limit, daily cash withdrawal limit of ₹25,000.
• Insurance Coverage:
  • TMB Wings RuPay Credit Card: Personal accident death coverage of ₹2 lakhs, lost card liability of up to ₹50,000.
  • TMB Phoenix RuPay Platinum Credit Card: Free personal accident death coverage, lost card liability.
  • TMB Platinum Credit Card: Lost card liability up to ₹50,000, personal accidental death coverage of ₹5 lakhs.
  • TMB Titanium Credit Card: Lost card liability of up to ₹50,000, personal death accident coverage of ₹5 lakhs.
• Add-on Cards:
  • TMB Wings RuPay Credit Card: Free add-on card.
  • TMB Titanium Credit Card: Free add-on cards offered to spouses and children above the age of 18.
• EMV Chip Card: TMB Platinum Credit Card is an EMV chip card variant offering tap-and-go payment capabilities at no extra cost.
• PIN Generation (TMB Titanium Credit Card): Users receive a GREEN PIN and can generate the PIN by inserting the card into a TMB ATM using OTP or by using the credit card customer portal (providing card number, expiration date, date of birth, and OTP).
• Repayment Methods:
  • TMB Platinum Credit Card: Mobile banking, internet banking, and over-the-counter payments at branches.
  • TMB Phoenix RuPay Platinum Credit Card: Internet Banking (Net Banking → General Services → Service Requests → New Requests → Credit Card Payment), NEFT / RTGS (Account No: 16-digit Card Number, Account Name: Cardholder Name, IFSC: TMBL0000900, Bank: Tamilnad Mercantile Bank Ltd), Over-the-Counter (Payment at any TMB Branch), Auto Debit (Debit from linked Savings Account on 10th of every month).

Other Details

• Billing Date (TMB Phoenix RuPay Platinum Credit Card): 25th of every month.
• Payment Due Date (TMB Phoenix RuPay Platinum Credit Card): 10th of the succeeding month.
• Statement Mode (TMB Phoenix RuPay Platinum Credit Card): E-Statement only.
• Alerts (TMB Phoenix RuPay Platinum Credit Card): SMS & Email sent for every payment.
• Minimum Repayment (Revolving Credit) (TMB Phoenix RuPay Platinum Credit Card): 10% of monthly billed amount (Minimum ₹500).
• EMI Facility (TMB Phoenix RuPay Platinum Credit Card): Available for spends ≥ ₹5,000 (single or cumulative), excluding cash withdrawal.