TMB General Credit Card

1. Loan QuantumCardholders can avail a loan quantum of minimum Rs. 5,000 and multiples of Rs.1,000 thereon, to a maximum of Rs.25,000. However, the credit limit is based on the repaying capacity of the cardholder.
2. Repayment PeriodThe maximum tenure of loan repayment is 12 months from the date of sanction which will be reviewed once in a year.
3. Type of CreditCustomers are offered an overdraft credit which can be withdrawn using a loan debit slip. While a pass book will be issued, no statements or cheque book will be issued for the credit availed using Tamilnad Mercantile Bank General Credit Card.
4. Repayment of CreditSince this is a revolving credit, the cardholder must pay back the entire amount within six months after rollover. The interest for the credit must be paid within 7th of every succeeding month and the loan can be drawn or revived in the same account after a gap of at least one day.

Benefits of TMB General Credit Card

1. No insistence on End PurposeCardholders can make spends without having to disclose the end use of the money, unlike loan products. They can pay back the credit card loan in easy instalments.
2. Simple DocumentationThe documentation process for TMB General Credit Card is simple and the processing fee is low.
3. For Rural CustomersThis card is specially offered to cater to the credit demands of customers in semi-urban and rural segments.
4. SecurityNo collateral security is insisted for TMB General Credit Card loan.
5. GuaranteeA guarantee of a suitable third party or an adult family member is required.

Interest Rate for TMB General Credit Card:

The following table gives an idea about the interest rates applicable for TMB General Credit Card.

Eligibility for TMB General Credit Card:

1. The customer must have sufficient cash flow and earning capacity and must be residing semi-urban and rural area.
2. Only one person in a household can be a TMB General Credit cardholder.

Documentation Required for TMB General Credit Card:

Customers will be asked for the following documents to apply for Tamilnad Mercantile Bank General Credit Card.

1. PAN Card
2. ID proof
3. Proof of address
4. Income Documents like salary slips, bank account statements and ITR statements if applicable

Keep documents like passport, voter ID, driving licence and other valid proof to speed up the application form.

Credit cards make payments easy for all expenses online and offline while offering various benefits

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