TMB Platinum Credit Card – Benefits, Fees & Eligibility

TMB Platinum Credit Card

The TMB Platinum Credit Card is a secured credit card issued against a Term Deposit with Tamilnad Mercantile Bank. It offers a range of benefits including zero joining and annual fees, a free credit period of up to 45 days, and important insurance coverage such as lost card liability and personal accidental death coverage. The card also features a contactless EMV Chip for enhanced security and convenience, along with a paperless Green PIN generation process. It provides flexible credit limits based on the deposited amount and offers various convenient repayment methods.

Fees

• One time card issuance charges: Free
• Enrollment / Joining Fee: Free
• Annual Fee: Free
• Renewal Fee: Rs.250/- + GST for the primary card; Rs.150/- + GST for add-on cards.
• Charges for Replacement card: Rs.250/- + GST
• Late Payment charges: Rs.250/- + GST (If the cardholder fails to pay the Minimum Amount Due before the Payment Due date).
• Cash Advance - Transaction fee: 3% of the transaction amount, subject to a minimum of Rs.30/- for every Rs.1000/- or part thereof.
• Charges for cash withdrawal at other bank ATMs: 3% of the transaction amount, subject to a minimum of Rs.30/- for every Rs.1000/- or part thereof. This is in addition to any additional charges levied by the respective banks.
• Finance charges for Cash Withdrawal: 2% per month (24% per annum) calculated from the date of cash withdrawal.
• Foreign Currency Transaction – Conversion Markup: Upto 3.5%
• Charge Slip Retrieval Fee: Rs.100/- + GST per charge slip.
• Collection charges for Outstation Cheque: Rs.100/- + GST per instrument, plus other bank charges if any.
• Duplicate Statement: Rs.100/- + GST per statement for statements more than 2 months old.
• Cheque dishonor charges or unsuccessful payment instructions: Rs.150/- + GST.
• Hot listing charges: Free.

Rewards

• Lost Card liability: Up to Rs.50,000/- covered from the time of intimation to the bank.
• Personal Accidental Death Coverage: Rs.5.00 lacs for Card Holders.

Card Eligibility Criteria

• Any individual against his/her Term Deposit with Tamilnad Mercantile Bank.
• Minimum period of Deposit required is 3 years.
• Minimum Deposit Amount required is Rs.50,000/- and above.

Important Product Details

Positive Highlights

• Free one-time card issuance, enrollment/joining, and annual fees.
• Free hot-listing charges.
• Issued as a Contactless EMV Chip facility card with no additional charges.
• Offers a free credit period of up to 45 days.
• Provides Lost Card liability coverage up to Rs.50,000/-.
• Includes Personal Accidental Death Coverage of Rs.5.00 lacs for cardholders.
• Allows for up to 2 Free Add-on Cards for spouse and children above 18 years of age.
• Green PIN (paperless) generation facility available via TMB ATM using OTP or through the Credit Card customer portal.

Negative Highlights / Key Charges

• Renewal Fee of Rs.250/- + GST for the primary card and Rs.150/- + GST for add-on cards.
• Late Payment charges of Rs.250/- + GST if the Minimum Amount Due is not paid on time.
• Cash advance transaction fee and cash withdrawal charges at other bank ATMs are 3% of the transaction amount (minimum Rs.30/- per Rs.1000/-).
• Finance charges for cash withdrawal are 2% per month (24% per annum) from the date of withdrawal.
• Foreign currency transaction markup is up to 3.5%.

Other Details

• Credit Limits:
  • Minimum Card Limit: Rs.20,000/-
  • Maximum Card Limit: Rs. 5,00,000/- (restricted up to 75% of the Term Deposit amount).
• Cash Advance Limit:
  • 25% of the sanctioned credit card limit.
  • Per day maximum limit of cash withdrawal is Rs.25,000/- (subject to any cash withdrawal restrictions if any by RBI).
• Card Validity: 3 years.
• EMV Chip Card: The card variant is issued as a Contactless EMV Chip facility card. No charges / fees are applied for the Contactless EMV Chip card.
• Green PIN (Paperless) Generation:
  • The welcome kit containing the card will be sent directly to the cardholder through Speed Post.
  • PIN shall not be issued through a PIN mailer.
  • Cardholders can generate the Green PIN in the following ways:
    • By inserting their card in any TMB ATM using OTP.
    • Through the Credit card customer Portal by providing Card Number, Expiry Date, Date of Birth, and OTP.
• Credit Card Repayment Methods:
  • Mobile Banking: Customers can pay their Credit Card bill repayments through the TMB M-Bank Application.
  • Internet Banking / Net Banking: Using Internet banking, customers can pay the credit card bill amount before the payment due date, by debiting the operative accounts maintained at Tamilnad Mercantile Bank.
  • Over the counter at branches: Customers can also pay the credit card bill amount before the payment due date over the counter at any of the bank's branches.
  • NEFT/RTGS: Customers can make bill payments easily through NEFT / RTGS from other bank accounts by providing the following details:
    • IFSC Code: TMBL0000900
    • Bank Name: Tamilnad Mercantile Bank Ltd
    • Branch Address: ATM Cell, Chennai
    • Account Number: <16 digit credit card Number>
    • Account Holder Name: