Tamilnad Mercantile BankTMB Titanium Credit Card – Benefits, Fees & Eligibility
Is the TMB Titanium Credit Card Right for You?
The TMB Titanium Credit Card is best suited for users who prioritize Shopping. With a joining fee of Free (1st year) and a renewal fee of ₹250 + GST, this card offers free entry for new applicants.
Key Card Details
Free (1st year)
₹250 + GST
Up to 3.5%
2% per month (24% p.a.) on cash withdrawals and outstanding balance
Notable Perks
Insurance Coverage
Free personal accidental cover of ₹5 lakh (death benefit only)
Things to Consider
Lacks a dedicated rewards program, offering no points or cashback on spends.
Does not provide any complimentary airport lounge access benefits.
No specific fuel surcharge waivers, leading to additional costs on fuel transactions.
Benefits & Features
Insurance Coverage
Free personal accidental cover of ₹5 lakh (death benefit only)
Card Network
RuPay
Fees & Charges
Joining Fee
Free (1st year)
Renewal Fee
₹250 + GST
Foreign Currency Markup
Up to 3.5%
Interest Rates
2% per month (24% p.a.) on cash withdrawals and outstanding balance
Cash Advance Charges
3% of amount (min ₹30 per ₹1,000) at TMB ATMs; 3% + bank charges at other ATMs
Add-on Card Fee
Free for issuance; renewal fee ₹150 + GST per card
Pros & Cons
Pros
Key benefits and features of this card.
No joining or annual fees, making it a cost-effective entry-level credit card.
Offers a complimentary personal accidental cover of ₹5 lakh for peace of mind.
Flexibility to issue up to two add-on cards for family members above 18 years.
Ideal for existing TMB customers to build or improve their credit history effectively.
Cons
Key drawbacks and limitations of this card.
Lacks a dedicated rewards program, offering no points or cashback on spends.
Does not provide any complimentary airport lounge access benefits.
No specific fuel surcharge waivers, leading to additional costs on fuel transactions.
High foreign currency markup of up to 3.5% makes international spends expensive.
Product Details
RuPay Titanium Contactless EMV Chip Card.
Features a personalized photo printed on the card.
Card validity of 3 years.
Credit limit from ₹20,000 up to ₹5,00,000 (25% of annual income).
Add-on cards available for spouse & children above 18 years (up to 2 cards).
Paperless GREEN PIN generation.
Up to 45 days of interest-free credit period.
Complimentary personal accidental cover of ₹5 lakh.
Benefits & Features
Insurance Coverage
Free personal accidental cover of ₹5 lakh (death benefit only)
Card Network
RuPay
What matters, explained clearly
Introduction
The TMB Titanium Credit Card is a personalized entry-level credit card issued by Tamilnad Mercantile Bank, operating on the RuPay Titanium network. It is positioned as a straightforward option for existing bank customers, offering a credit limit of up to Rs. 5 lakh, a 3-year validity, and the convenience of add-on cards for family members, all without a joining fee. The card also provides a free personal accidental cover.
Welcome Benefits
- One-time card issuance is free.
- No joining or enrollment fee.
Fees & Charges Breakdown
- Joining Fee: Free
- Annual Fee: Free
- Renewal Fee:
- Primary Card: ₹250 + GST
- Add-on Card: ₹150 + GST
- Foreign Currency Conversion Markup: Up to 3.5%
- Interest Rates:
- Finance Charges on Cash Withdrawal: 2% per month (24% p.a.)
- Finance Charges on outstanding balance: 2% per month (24% p.a.)
- Cash Advance Charges:
- Cash Withdrawal Fee (TMB ATM): 3% of amount (Minimum ₹30 per ₹1,000 or part thereof)
- Cash Withdrawal Fee (Other ATM): 3% of amount + additional bank charges (if any)
- Add-on Card Fee: Free for issuance, but renewal fee is ₹150 + GST.
- Other Charges:
- Card Replacement: ₹250 + GST
- Late Payment Charges: ₹250 + GST
- Hotlisting Charges: Free
- Charge Slip Retrieval: ₹100 + GST
- Collection Charges (Outstation Cheque): ₹100 + GST + bank charges
- Duplicate Statement: ₹100 + GST (for statements older than 2 months)
- Cheque Dishonour / Failed Payment: ₹150 + GST
- Minimum Amount Due: 10% of the total billed amount, subject to a minimum of Rs.500.
Travel, Lounge & Lifestyle Perks
- Insurance Benefit: Free personal accidental cover of Rs.5 lakh (death benefit only).
Card Eligibility Criteria & Income Requirements
- Applicant Status: The applicant must have a current account or savings account with Tamilnad Mercantile Bank.
- Minimum Age: Primary cardholder must be 18 years or above (add-on cards are available for children above 18 years).
- Annual Income Threshold:
- Gross annual income of ₹2,00,000 and above.
- Annual Income of Rs.3 lakh or more.
- Income Tax Assessment: Income Tax Assessment for 3 years is required.
- Credit Score Preference: The bank considers the applicant's credit score, credit utilisation ratio, and repayment habits of past debts.
- Required Documents: Income and identity documents are needed to complete the application.
Credit Card Review
The TMB Titanium Credit Card is a basic, no-frills offering best suited for existing Tamilnad Mercantile Bank customers seeking a straightforward credit solution. Its primary advantages include no joining or annual fees, a complimentary personal accidental cover, and the flexibility of add-on cards. However, the card lacks a dedicated rewards program, lounge access, or specific fuel surcharge waivers, making it less appealing for those seeking premium benefits. The finance charges of 24% p.a. are standard but can be high if balances are not paid in full. It serves well as an entry-level card for building credit history, especially for individuals meeting the moderate income requirements.
Important Product Details
- Card Type: RuPay Titanium Credit Card, Contactless EMV Chip Card.
- Personalization: Features a personalized photo printed on the card.
- Card Validity: 3 Years.
- Credit Limit:
- Minimum Card Limit: ₹20,000
- Maximum Card Limit: Up to ₹5,00,000 (Restricted to 25% of annual income)
- Cash Advance Limit: 25% of sanctioned credit limit.
- Daily Cash Withdrawal Limit: ₹25,000 (subject to RBI norms, if applicable).
- Free Credit Period: Up to 45 days.
- Add-on Cards: Available for spouse & children above 18 years, with a limit of up to 2 add-on cards.
- PIN Type: GREEN PIN (Paperless PIN generation).
- Personal Accidental Cover: Rs.5 lakh (death benefit only).
Other Details
- PIN Generation Methods:
- Insert card at any TMB ATM using OTP.
- Generate PIN via Credit Card Customer Portal using Card Number, Expiry Date, DOB & OTP.
- PIN mailer is not issued, promoting an eco-friendly digital PIN.
- Credit Limit Discretion: The credit limit is assigned at the bank's discretion, considering the primary applicant's annual income, Income Tax Assessment, credit score, credit utilisation ratio, and repayment habits of past debts.
- General Disclaimer: Display of trademarks, tradenames, logos, and other intellectual property belongs to their respective owners and does not imply partnership with the source of this information.