TMB Titanium Credit Card – Benefits, Fees & Eligibility

Introduction

The TMB Titanium Credit Card, issued by Tamilnad Mercantile Bank Ltd (TMB), is designed as a straightforward and affordable credit solution for individuals seeking essential banking features without incurring high costs. Positioned as a basic offering, this card focuses on providing fundamental credit card functionalities, security, and convenience. Key differentiating benefits include free joining, a low annual renewal fee, EMV chip technology for enhanced security, and crucial insurance coverage.

This card is ideal for those new to credit or individuals with moderate income who require a reliable card for everyday transactions and prefer a no-frills approach to credit card usage. It emphasizes accessibility and ease of use, making it a practical choice for a broad customer base.

Welcome Benefits

New cardholders of the TMB Titanium Credit Card benefit from free one-time card issuance, ensuring no upfront costs to acquire the card.

Fees

• One-time Card Issuance Charges: Free
• Enrollment / Joining Fee: Free
• Annual Fee: Free (however, a renewal fee applies from the second year)
• Renewal Fee: ₹250 + GST for the primary card; ₹150 + GST for each Add-on Card.
• Charges for Replacement Card: ₹250 + GST
• Late Payment Charges: ₹250 + GST (if the Minimum Amount Due is not paid by the due date)
• Cash Advance - Transaction Fee: 3% of the transaction amount, subject to a minimum of ₹30 for every ₹1000 or part thereof.
• Charges for Cash Withdrawal at Other Bank ATMs: 3% of the transaction amount, subject to a minimum of ₹30 for every ₹1000 or part thereof, plus any 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: ₹100 + GST per charge slip.
• Collection Charges for Outstation Cheque: ₹100 + GST per instrument + other bank charges if any.
• Foreign Currency Transaction – Conversion Markup: Up to 3.5%
• Duplicate Statement: ₹100 + GST per statement for statements more than 2 months old.
• Cheque Dishonor Charges or Unsuccessful Payment Instructions: ₹150 + GST
• Hot Listing Charges: Free

Card Eligibility Criteria

• Income: Any individual with a gross annual income of ₹2,00,000 and above.
• Minimum Card Limit: ₹20,000
• Maximum Card Limit: ₹5,00,000 (restricted up to 25% of the annual income)

Card Review

Pros

• Low joining and annual fees, making it an affordable option for basic credit needs.
• Includes essential insurance coverage for lost card liability and personal accident.
• Offers free add-on cards for family members, enhancing convenience and shared access.
• Modern EMV chip and contactless technology for secure and convenient transactions.
• Flexible billing cycle options and multiple repayment methods for ease of financial management.

Cons

• No specific reward program or cashback benefits mentioned for regular spends.
• High foreign currency transaction markup of up to 3.5% for international purchases.
• Cash advance charges are relatively high, including finance charges from day one.
• Lacks premium benefits such as lounge access, movie, dining, or travel perks.
• Maximum credit limit is restricted to 25% of annual income, potentially limiting higher spenders.

Ideal User Profile

The TMB Titanium Credit Card is best suited for individuals seeking a basic, low-cost credit card for everyday transactions, who prioritize security and essential features over premium rewards or benefits. It is an excellent choice for those new to credit or with moderate income looking for a reliable and easy-to-manage credit card.

Verdict

The TMB Titanium Credit Card is a straightforward, no-frills credit card from Tamilnad Mercantile Bank, offering fundamental credit facilities with transparent and relatively low fees. While it lacks advanced reward programs or luxury perks, its focus on security, essential benefits like insurance, and flexible repayment options make it a practical and accessible choice for budget-conscious users.

Important Product Details

• EMV Chip Card: The card variant is issued as a Contactless EMV Chip facility card, with no additional charges or fees for this feature.
• Free Add-on Cards: Cardholders can avail up to 2 free add-on cards for their spouse and children above 18 years of age.
• Card Validity: The card has a validity period of 3 years.
• GREEN PIN (Paperless): The PIN is not issued via mailer. Cardholders can generate their Green PIN by inserting their card at any TMB ATM using an OTP, or through the Credit Card customer Portal by providing the Card Number, Expiry Date, Date of Birth, and OTP.
• Free Credit Period: Enjoy a free credit period of up to 45 days.
• Insurance Cover: The card provides Lost Card liability coverage up to ₹50,000 from the time of intimation to the bank, and Personal Accidental Death Coverage of ₹5.00 lacs for cardholders.
• Billing Date: Customers have two billing cycle options: the 20th and 25th of every month.
• Due Date for Payment: The due date will be the 5th and 10th of the succeeding month, based on the chosen billing date.
• Billing Cycle Change Conditions: Customers can opt to change their billing cycle provided they have no outstanding unpaid dues on the card and no active EMIs on the card.

Other Details

• Cash Advance Limit: The cash advance limit is 25% of the sanctioned credit card limit, with a per day maximum cash withdrawal limit of ₹25,000 (subject to any RBI restrictions).
• Credit Card Repayment Methods:
  • Mobile Banking: Customers can pay their credit card bills through the TMB M-Bank Application.
  • Internet Banking / Net Banking: Payments can be made by debiting operative accounts maintained at TMB before the payment due date.
  • Over the Counter at Branches: Bill payments can be made at any TMB branch before the payment due date.
  • NEFT/RTGS: Payments can be made from other bank accounts using the following 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 Name)