top of page

TMB Platinum Credit Card

Product Details
Credit Card Name : 

TMB Platinum Credit Card

Bank Name :

Tamilnadu Mercantile Bank

Type :

Regular Credit Card

Interest Rate : 

Finance charges for Cash Withdrawal. 2% per month (24% per annum) from the date of cash withdrawal

Eligibility :

Any individual against his/her Term Deposit with our Bank

Minimum period of Deposit is 3 years

Deposit Amount - Rs.50,000/- and above.

TMB Platinum Credit Card
Pros


  • TMB Platinum Credit Card offers Flexible Credit limits, 

  • The card offers No Joining & Annual Fee. 

  • Card comes with 3 years validity & is designed with an EMV chip card

  • Card also proves Add-on Cards Upto 2 for spouses and children above 18 years of age.

  • 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. 

Cons
  • No shopping, fuel, travel and other additional benefits 

  • Term deposit with bank required

  • No welcome benefit is provided to the new users. 

  • Lower credit limit: The maximum credit limit is only Rs. 5 lakhs, which might be insufficient for high spenders.

  • No reward points or cashback programs: Unlike many other credit cards, TMB Platinum doesn't offer reward points or cashback on your purchases, potentially limiting its appeal for those seeking to maximize their spending benefits.

  • Renewal fee: While there's no annual fee, a renewal fee of Rs. 250 for the primary card and Rs. 150 for each add-on card applies after the 3-year term deposit period.

  • High late payment fees: Late payment charges are steep at Rs. 250, which can quickly add up if you miss a payment.

Pros & Cons
Welcome Benefits
No welcome benefit
Rewards System

No traditional rewards system available 

International Forex Markup
Foreign Currency Transaction – Conversion Markup Upto 3.5%
Welcome Benefits and Reward System
Special Features

None 

Eligibility Criteria

Any individual against his/her Term Deposit with our Bank

Minimum period of Deposit is 3 years

Deposit Amount - Rs.50,000/- and above.

Benefits
  • No joining or annual fees: This makes the card accessible and saves you money compared to cards with annual fees.

  • Cash advance facility: Access up to 25% of your credit limit as cash advance, helpful for emergencies.

  • Widely accepted: TMB Platinum is a Mastercard or Visa card, ensuring acceptance at millions of merchants worldwide.

  • Term deposit linked: This provides a sense of security, as the card limit is based on your existing term deposit with TMB, potentially reducing credit risks.

Speical Feature, Eligibility and Benefits
How to apply for Credit Card?
  1. Maintain a Term Deposit of Rs. 50,000 or more for at least 3 years at TMB. This is the prerequisite for applying for the card.

  2. Visit your nearest TMB branch. Currently, online applications are not available for this card.

  3. Submit the required documents: Identity proof, address proof, income proof, bank statement or passbook details for your Term Deposit.

  4. Fill out the application form provided by the bank.

  5. The bank will process your application and credit limit based on your Term Deposit amount and creditworthiness.

Contact Details

SMS “help” or call +91 9842 461 461

Email at: customerservice@tmbank

Account Opening and Procedure
TMB Platinum Credit Card

The TMB Platinum Credit Card offers a high credit limit and some basic benefits, but comes with significant drawbacks. The fixed deposit requirement, high annual fee, and limited features might not make it an appealing option for everyone. If you primarily value high credit limits and prefer a simple card with no annual fee, it could be a decent choice. However, for a broader range of benefits and competitive rewards, exploring other alternatives is recommended.

Abhijeet Saxena

Abhijeet Saxena

Abhijeet Saxena

Nalsar University of Law

Ex- Senior Associate, Shardul Amarchand Mangaldas, Delhi

Ex - Khaitan & Co. Bengaluru,

Ex - National Stock Exchange, Mumbai,

Ex - Argus Partners, Mumbai

Product Review
Fees & Charges
  • Joining fee: Nil 

  • Annual fee -Nil 

  • Late Payment charges Rs.250/- ( If the cardholder fails to pay the Minimum Amount Due before Payment Due date.) 

  • Cash Advance - Transaction fee 3% of transaction amount subject to the Minimum of Rs.30/- for every Rs.1000/- or part thereof 

  • Finance charges for Cash Withdrawal. 2% per month (24% per annum) from the date of cash withdrawal 

  • Foreign Currency Transaction – Conversion MarkupUpto 3.5%

Fuel Surcharge

Not Provided 

Billing Cycle

30 Days

Fees & Charges
bottom of page