TMB Titanium Credit Card – Benefits, Fees & Eligibility

Introduction

The TMB Titanium Credit Card is a straightforward credit solution designed to offer essential benefits without the burden of initial charges. It features no joining or annual fees for the primary cardholder, making it an accessible option for many. Cardholders can benefit from a free credit period of up to 45 days and added security through lost card liability coverage and personal accidental death insurance. Issued as a Contactless EMV Chip card, it provides modern and secure transaction capabilities.

Fees

• One-time Card Issuance Charges: Free
• Enrollment / Joining Fee: Free
• Annual Fee: Free for the primary card.
• Renewal Fee:
  • Rs. 250/- + GST for the primary card.
  • Rs. 150/- + GST for each Add-on Card.
• Charges for Replacement Card: Rs. 250/- + GST
• Late Payment Charges: Rs. 250/- + GST (if the Minimum Amount Due is not paid 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, plus additional charges levied by the respective banks.
• Finance Charges for Cash Withdrawal: 2% per month (24% per annum) from the date of cash withdrawal.
• 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.
• Foreign Currency Transaction - Conversion Markup: Up to 3.5%
• 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

• Insurance Coverage:
  • Lost Card Liability up to Rs. 50,000/-, covered from the time of intimation to the bank.
  • Personal Accidental Death Coverage of Rs. 5.00 lacs for Card Holders.
• Add-on Cards: Up to 2 free Add-on Cards are available for spouse and children above 18 years of age.
• Card Technology: Issued as a Contactless EMV Chip facility card with no additional charges or fees.
• Free Credit Period: Cardholders can enjoy a free credit period of up to 45 days.
• Initial Fees: One-time card issuance, enrollment/joining, and annual fees are free for the primary card.
• Security: Hot listing charges for reporting a lost or stolen card are free.

Card Eligibility Criteria

• Eligibility Rules:
  • Any individual with a gross annual income of Rs. 2,00,000.00 and above.
• Card Limits:
  • Minimum Card Limit: Rs. 20,000/-
  • Maximum Card Limit: Rs. 5,00,000/- (restricted up to 25% of annual income).

Card Review

The TMB Titanium Credit Card is an attractive option for individuals seeking a basic, no-frills credit card that eliminates upfront costs with its free joining and annual fees for the primary cardholder. Its standout features include crucial insurance benefits, such as lost card liability and a substantial personal accidental death coverage, providing a sense of security. The integration of contactless EMV chip technology ensures modern and secure transactions, while a generous free credit period of up to 45 days adds financial flexibility. The provision of up to two free add-on cards is a significant advantage for families looking to manage shared expenses.

However, prospective cardholders should be aware of the renewal fee that applies from the second year onwards for both primary and add-on cards. Additionally, the card carries various charges that could accumulate, including high fees for cash advances, foreign currency transactions, and late payments. This card is best suited for users who primarily use it for everyday domestic purchases, consistently pay their bills on time, and can leverage the included insurance benefits without incurring excessive additional fees. It may not be the ideal choice for frequent international travelers or those who often rely on cash withdrawals, given the associated costs.

Important Product Details

• Positive Highlights:
  • Free One-time Card Issuance Charges.
  • Free Enrollment / Joining Fee.
  • Free Annual Fee for the primary card.
  • Free Hot Listing Charges for lost/stolen cards.
  • Up to 2 Free Add-on Cards for spouse and children above 18 years.
  • Lost Card Liability coverage up to Rs. 50,000/-.
  • Personal Accidental Death Coverage of Rs. 5.00 lacs for cardholders.
  • Contactless EMV Chip Card facility provided without additional charges.
  • Free Credit Period of up to 45 days.
• Negative Highlights:
  • Renewal Fee of Rs. 250/- + GST for primary card and Rs. 150/- + GST for Add-on Cards.
  • High cash advance transaction fees (3% of the amount, minimum Rs. 30 per Rs. 1000).
  • Significant finance charges for cash withdrawals (2% per month / 24% per annum).
  • Foreign currency transaction conversion markup of up to 3.5%.
  • Late Payment charges of Rs. 250/- + GST.
  • Additional charges apply for replacement cards, charge slip retrieval, outstation cheque collection, duplicate statements, and cheque dishonor/unsuccessful payment instructions.

Other Details

• Minimum Card Limit: Rs. 20,000/-
• Maximum Card Limit: Rs. 5,00,000/- (restricted up to 25% of annual income).
• 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 imposed by RBI).
• Card Validity: 3 years.
• GREEN PIN (Paperless) Generation:
  • The welcome kit containing the card will be sent directly to the cardholder through Speed Post.
  • The PIN will be in the form of GREEN PIN (Paperless).
  • Cardholders can generate the Green PIN in the following ways:
    • By inserting their card in any TMB ATM and using an OTP.
    • Through the Credit Card customer Portal by providing the Card Number, Expiry Date, Date of Birth, and an 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 operative accounts maintained at Tamilnad Mercantile Bank Ltd.
  • Over the counter at branches: Customers can also pay the credit card bill amount before the payment due date over the counter at any Tamilnad Mercantile Bank Ltd branch.
  • NEFT/RTGS from other bank accounts: Customers who have availed the TMB Credit Card can easily make Bill payments through NEFT / RTGS from other bank accounts by providing the following beneficiary details:
    • IFSC Code: TMBL0000900
    • Bank Name: Tamilnad Mercantile Bank Ltd
    • Branch Address: ATM Cell, Chennai
    • Account Number: (Your 16-digit credit card Number)
    • Account Holder Name: (Your credit card holder name)