TMB WINGS RuPay Credit Card – Benefits, Fees & Eligibility

TMB WINGS RuPay Credit Card

Introduction

The TMB WINGS RuPay Credit Card is a RuPay Platinum offering designed for existing Tamilnad Mercantile Bank (TMB) customers. It stands out with no joining fee and a free credit period of up to 45 days. The card includes beneficial insurance coverage such as a free personal accident death cover and lost card liability, making it a practical choice for individuals seeking fundamental credit card benefits with transparent and manageable fees.

Welcome Benefits

• Free Card Issuance

Fees

• Joining Fee: Free
• Card Issuance Charges: Free
• Annual Renewal Fee: Rs. 250/-. This fee is waived off if the customer spends Rs. 50,000/- in any quarter of the calendar year.
• Charges for Card Replacement: Rs. 100/- + Charges
• Revolving Credit Charges: 24% per annum from the date of transaction if the total amount due is not paid fully on the due date.
• Cash Advance Charges:
  • 3% of the transaction amount, subject to a minimum of Rs. 30/-, for cash withdrawals at TMB ATMs.
  • 3% of the transaction amount, subject to a minimum of Rs. 30/-, for cash withdrawals at other ATMs (additional charges 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 Markup: Up to 3.50%
• Late Payment Fee: Rs. 250 + GST, which shall be collected if the Minimum Amount Due (MAD) is not paid within the due date.
• Hot Listing Charges: NIL

Rewards

• Insurance Coverage:
  • Free personal accident death cover of Rs. 2.00 Lakhs. This is funded by RuPay, and conditions of RuPay Card for insurance are applicable.
  • Lost Card liability coverage up to Rs. 50,000/-, covered from the time of intimation to the bank.

Card Eligibility Criteria

• Eligibility Rules:
  • Any individual having a Savings Bank (SB) account with Tamilnad Mercantile Bank (TMB) with a minimum vintage of 1 year.
  • Latest two years of IT Return with a minimum income of Rs. 3 lakhs and above per annum.
  • Latest CIBIL report should show a minimum CIBIL Score of 700.
• Documents Required:
  • Latest 3 Months pay slip OR latest IT return for 2 years.

Card Review

The TMB WINGS RuPay Credit Card is a fundamental credit solution primarily aimed at existing customers of Tamilnad Mercantile Bank who meet specific income and credit score criteria. Its key advantages include no joining fee and an annual renewal fee that is easily waivable through moderate spending, making it cost-effective for regular users. The inclusion of personal accident death cover and lost card liability provides a good layer of security. However, potential cardholders should be cautious of the high finance charges for revolving credit and cash advances, as well as the foreign currency transaction markup. The card lacks specific rewards programs for common spending categories like dining, movies, or travel, which might make it less appealing for individuals seeking lifestyle benefits. Overall, it serves as a straightforward, secure credit card for TMB customers looking for basic credit facilities with essential insurance protection.

Important Product Details

• Free Joining Fee: The card comes with no joining fee.
• Annual Fee Waiver: The annual renewal fee of Rs. 250/- is waived off if the customer spends Rs. 50,000/- in any quarter of the calendar year.
• Free Credit Period: Enjoy a free credit period of up to 45 days.
• Insurance Coverage: Includes a free personal accident death cover of Rs. 2.00 Lakhs and lost card liability up to Rs. 50,000/-.
• NIL Hot Listing Charges: There are no charges for hot listing the card.
• High Interest Rates: Be aware of a 24% per annum charge for revolving credit and cash withdrawals.
• Cash Advance Limit: The cash advance limit is 25% of the sanctioned card limit, with a maximum of Rs. 25,000/- per day.
• Foreign Currency Markup: A foreign currency transaction conversion markup of up to 3.50% applies.

Other Details

• Card Brand: RuPay Platinum
• Card Validity: 3 Years
• Cash Advance Limit:
  • 25% of the sanctioned card limit.
  • Per day maximum limit of cash withdrawal is Rs. 25,000/-.
• EMI Option: Available for spends in single or cumulative to Rs. 5,000/- and above for specific spend categories (except cash withdrawal).
• Billing Date: 25th of every month.
• Due Date for Payment: 10th of the succeeding month.
• E-statements: Consolidated statements are sent to the cardholder's email ID on the Billing Date, and only e-statements are provided.
• SMS/Email Notifications: SMS and Email alerts are sent to cardholders on every payment, irrespective of the amount.
• PIN Generation and Activation Steps:
  • Access the Customer self-care portal by clicking the link to login: https://rupayccp.tmbnet.in/loginV1
  • Steps to login to customer self-care portal:
    • Step 1: Enter your customer ID.
    • Step 2: Click on forgot password.
    • Step 3: Enter OTP & Set your password.
    • Step 4: Now you can login with your customer ID and password.
  • Steps to activate and set PIN for your credit card:
    • Step 1: Login to your self-care portal.
    • Step 2: Click on "View all cards".
    • Step 3: Click on change PIN.
    • Step 4: Enter the details and change set your PIN.
    • The same steps are to be followed to change Credit Card PIN anytime.
• 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.
  • Over the Counter: Customers can pay credit card bills at any TMB branches.
  • Debit from Current Account: The Card Holder needs to fund his/her savings account on or before the 10th of every month. On the 10th morning, the credit card bill amount is automatically adjusted in the savings account.