Tamilnad Mercantile BankTMB Phoenix Credit Card – Benefits, Fees & Eligibility
Is the TMB Phoenix Credit Card Right for You?
The TMB Phoenix Credit Card is best suited for users who prioritize Premium, Business. With a joining fee of Free and a renewal fee of Rs.500/-. This fee is waived off if the customer spends Rs.1,00,000/- in a calendar year., this card offers free entry for new applicants. It offers Not Applicable as its primary reward mechanism.
Key Card Details
Free
Rs.500/-. This fee is waived off if the customer spends Rs.1,00,000/- in a calendar year.
Not Applicable
Up to 3.50% markup on international spends.
Notable Perks
Insurance Coverage
Free personal accident death cover of Rs.2.00 Lakhs & lost card liability up to Rs.50,000.
Spend-Based Waiver
Renewal fee waived if customer spends Rs.1,00,000/- in a calendar year.
Things to Consider
High finance charge of 24% per annum on revolving credit and cash advances.
Foreign currency markup of up to 3.50% makes international spends costly.
Cash advance charges of 3% (min Rs. 30) plus finance charges are substantial.
Benefits & Features
Welcome Offer
Zero joining fee and no card issuance charges.
Reward Type
Not Applicable
Insurance Coverage
Free personal accident death cover of Rs.2.00 Lakhs & lost card liability up to Rs.50,000.
Fees & Charges
Joining Fee
Free
Renewal Fee
Rs.500/-. This fee is waived off if the customer spends Rs.1,00,000/- in a calendar year.
Spend-Based Waiver
Renewal fee waived if customer spends Rs.1,00,000/- in a calendar year.
Foreign Currency Markup
Up to 3.50% markup on international spends.
Interest Rates
24% per annum for revolving credit and cash advances.
Cash Advance Charges
3% (min Rs.30) at ATMs, plus 24% p.a. finance charges.
Pros & Cons
Pros
Key benefits and features of this card.
Zero joining and card issuance fees make it an accessible option for new users.
Enjoy an extended interest-free credit period of up to 45 days.
Comprehensive insurance cover, including personal accident and lost card liability.
Annual fee waiver on spending Rs. 1,00,000 annually, offering good value.
Option to convert larger spends (Rs. 5,000+) into convenient EMIs.
Cons
Key drawbacks and limitations of this card.
High finance charge of 24% per annum on revolving credit and cash advances.
Foreign currency markup of up to 3.50% makes international spends costly.
Cash advance charges of 3% (min Rs. 30) plus finance charges are substantial.
Late payment fee of Rs. 250 + GST can add up quickly if payments are missed.
Eligibility criteria are strict, requiring specific IT returns and CIBIL score.
Product Details
RuPay Platinum variant for wide acceptance.
Offers an interest-free credit period of up to 45 days.
Card comes with a validity period of 3 years.
Option to convert spends of Rs. 5,000/- and above into EMIs.
Receive consolidated e-statements and SMS/Email alerts on payments.
Minimum repayment on revolving credit is 10% of the billed amount.
Benefits & Features
Welcome Offer
Zero joining fee and no card issuance charges.
Reward Type
Not Applicable
Insurance Coverage
Free personal accident death cover of Rs.2.00 Lakhs & lost card liability up to Rs.50,000.
What matters, explained clearly
TMB Phoenix Credit Card
The TMB Phoenix Credit Card, a RuPay Platinum variant, offers a comprehensive set of features designed for its cardholders. It stands out with zero joining and card issuance fees, coupled with a flexible interest-free credit period of up to 45 days. Key benefits include complimentary personal accident death cover and lost card liability insurance, providing an added layer of security and value.
Welcome Benefits
- Joining Fee: Free
- Card Issuance Charges: Free
Fees
- Joining Fee: Free
- Annual Renewal Fee: Rs.500/-. This fee is waived off if the customer spends Rs.1,00,000/- in a calendar year.
- Charges for Revolving Credit: 24% per annum from the date of transaction if the total amount due is not paid fully on the due date.
- Cash Advance Limit: 25% of the sanctioned card limit.
- Per Day Maximum Cash Withdrawal Limit: Rs.25,000/-.
- Charges for Cash Withdrawal at TMB ATM: 3% of the transaction amount, subject to a minimum of Rs.30/-.
- Charges for Cash Withdrawal at other ATMs: 3% of the transaction amount, subject to a minimum of Rs.30/-. Additional charges may be levied by the Off Us bank if applicable.
- Finance Charges for Cash Withdrawal: 24% per annum from the date of cash withdrawal till repayment.
- Foreign Currency Transaction-Conversion Markup: Up to 3.50%.
- Late Payment Fee: Rs.250 + GST, collected if the Minimum Amount Due (MAD) is not paid within the due date.
- Duplicate Statement Charges: Rs.100/- per statement for statements more than 2 months old.
- Hot Listing Charges: NIL.
Rewards
- Insurance Coverage:
- Free personal accident death cover of Rs.2.00 Lakhs, funded by RuPay (conditions of RuPay Card for insurance are applicable).
- Lost Card liability up to Rs.50,000/-, covered from the time of intimation to the bank.
- EMI Option: Available for spends in single or cumulative to Rs.5,000/- & above for specific spend categories (excluding cash withdrawal).
Card Eligibility Criteria
Eligibility Rules
- Any individual or proprietor having a Current Account with the bank with a minimum vintage of one year.
- Must have at least 2 income tax returns filing of Rs.3 lakhs & above per annum.
- Latest CIBIL report should show a minimum CIBIL Score of 700.
Documents Required
- Latest IT return for 2 years.
Important Product Details
- Card Issuer: RuPay Platinum.
- Card Validity: 3 Years.
- Credit Period: Free up to 45 days.
- Minimum Repayment on Revolving Credit: A minimum of 10% of the monthly total billed amount, subject to a minimum of Rs.500/-.
- Insurance Coverage:
- Free personal accident death cover of Rs.2.00 Lakhs, funded by RuPay (conditions of RuPay Card for insurance are applicable).
- Lost Card liability up to Rs.50,000/-, covered from the time of intimation to the bank.
- EMI Option: Available for spends in single or cumulative to Rs.5,000/- & above for specific spend categories (excluding cash withdrawal).
Other Details
- Card Issuer: RuPay Platinum.
- Card Validity: 3 Years.
- Credit Period: Free up to 45 days.
- Minimum Repayment on Revolving Credit: A minimum of 10% of the monthly total billed amount, subject to a minimum of Rs.500/-.
- Revolving Credit: Refer attached MITC for comprehensive details.
- Billing Date: 25th of every month.
- Due Date for Payment: 10th of the succeeding month.
- E-statement: Consolidated statement sent to cardholder's email ID on the billing date.
- SMS/Email Alerts: SMS & Email sent to cardholders on every payment, irrespective of the amount.
Pin Generation
- To activate your credit card and set PIN via Customer Portal:
- Visit the Customer self-care portal:
https://rupaycc.tmbnet.in/loginV1 - Steps to login to customer self-care portal:
- Enter your customer ID.
- Click on "forgot password".
- Enter OTP & Set your password.
- Now you can login with your customer ID and password.
- Steps to activate and set PIN for your credit card:
- Login to your self-care portal.
- Click on "View all cards".
- Click on "change PIN".
- Enter the details and set your PIN.
- The same steps are to be followed to change Credit Card PIN anytime.
- Visit the Customer self-care portal:
Credit Card Repayment Procedure
- Internet Banking: Login into Net banking -> General Services -> Service Requests -> New Requests -> Credit Card Payment -> Fill details & submit online.
- NEFT/RTGS: Bill payment can be made by NEFT/RTGS to:
- Account No.:
<16 Digit card Number> - Account Name:
<card Holder name> - IFSC code: TMBL0000900
- Bank Name: Tamilnad Mercantile Bank Ltd.
- Branch Address: ATM Cell, Chennai.
- Account No.:
- Over the Counter: Customers can pay credit card bills at any TMB branches.
- Debit from Current Account: The card holder needs to fund their Current Account on or before the 10th of every month. On the 10th morning, the credit card bill amount is automatically adjusted in the Current account.