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    TamilNad Mercantile Bank Credit Cards

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    1st Year Fee
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    TamilNad Mercantile Bank Credit Cards Reviews

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    Overview:

    Tamilnad Mercantile Bank was established in 1921 and was initially known as the Nadar Bank. Tamilnad Mercantile Bank currently has over 437 branches including eleven extension counters, six processing centres and 911 ATMs across the country. One of the fastest growing banks in the Private Sector, TMB offers a range of products that include loans, deposit services, accounts and credit cards to cater to the banking and financial needs of corporates, NRIs and individuals.

    Tamilnad Mercantile Bank Credit Cards offer a range of advantages to the cardholders and are designed to offer easy credit at low interest rates.

    Why Choose Tamilnad Mercantile Bank Credit Cards?

    Tamilnad Mercantile Bank offers two variants of credit card, specially crafted to cater to the credit requirements of all customer segments including those of semi-urban and rural areas. Customers can choose between Tamilnad Mercantile Bank General Credit Card or Tamilnad Mercantile Bank India Card Credit Card. Both the credit cards come with an array of advantages that will delight the cardholder and offer flexibility & greater purchase power. To avail a loan using TMB Credit cards, no collateral is required. Cardholders get to enjoy a range of benefits like high credit limit, flexible repayment options and incentives for prompt payments, constant customer support and affordable interest rates. Find a TMB Credit card that matches your needs and elevate your lifestyle!

    Features and Benefits of TMB Credit Cards:

    The following advantages that come with Tamilnad Mercantile Bank Credit Cards makes it one of the most popular choice for credit cards in the market.

    • Generous Credit Limit

      TMB Credit Cards come with high credit limit that offer the cardholders greater flexibility. Now you don’t have to think twice before you make a purchase!

    • Attractive Interest Rates

      Tamilnad Mercantile Bank Credit Cards offer affordable interest rates for credit purchases. With credit interest rates varying from 17% to 19%, cardholders are entitled to a higher purchase power.

    • Affordable and Transparent

      With fees and charges that are affordable, cardholders can avail a T<B credit card with no second thoughts. Also, the transparent process will ensure that you enjoy using your credit card.

    • Impeccable Customer Support

      Lost your credit card? Want to know more about tenure for repayment? You can get in touch with Tamilnad Mercantile Bank on their 24/7 helpline number to get all your questions cleared.

    • Enhanced Payment Security

      The 3D Secure authentication technology will help you make every transaction with more confidence as it helps prevent unauthorized use of credit cards.

    • Incentives for Prompt Payers

      For customers who make interest payments on time and repay the credit loan in less than 6 months’ time, an incentive of 2% is offered.

    • No Collateral Required

      To avail the TMB Overdraft facility and TMB General Credit Card loan, cardholders require no collateral security. So if you are in need of instant loan, this is the best choice.

    • For customers in Semi-urban and rural area

      Designed to offer maximum benefits for TMB customers in semi-urban and rural areas, T<B credit cards will offer ease of use and other privileges that will delight the cardholder.

    • Easy Documentation

      The documentation process for both Tamilnad Mercantile Bank General Credit Card and Tamilnad Mercantile Bank India Card Credit Card is very simple and the processing charges are very nominal.

    • Repayment Tenure

      Cardholders can repay the loan within 12 months from the date of purchase. For cardholders who make timely interest payments and close the loan before 6 months from the date of purchase, incentives are also offered by Tamilnad Mercantile Bank.

    Charges and Interest Rates:

    The tables below lists out all charges and prevailing interest rates for Tamilnad Mercantile Bank Credit Cards.

    Tamilnad Mercantile Bank General Credit Card Interest Rates

    General Customers

    Base Rate + 8.50% which is currently fixed at 18.90% per annum.

    For Women

    Base Rate + 8.50% which is currently fixed at 18.90% per annum.

    Tamilnad Mercantile Bank India Card Credit Card Interest Rates

    Interest Rate for Temporary Overdraft

    17.50% per annum

    Fees and Charges for Tamilnad Mercantile Bank India Card Credit Card:

    Joining Fee for Personal Card

    Rs.150 one time

    Joining Fee for Add-On Card

    Rs.150 one time

    Joining Fee for Corporate card

    Rs.150 one time

    Annual Fee for Corporate Card

    Rs.250 per annum

    Annual Fee for Personal Card

    Rs.250 per annum

    Annual Fee for Add-On card

    Rs.150 per annum

    Renewal Fee for Corporate Card

    Rs.250 per annum

    Renewal Fee for Personal Card

    Rs.250 per annum

    Renewal Fee for Add-On card

    Rs.250 per annum

    Replacement Fee for personal card

    Rs.200

    Replacement fee for corporate card

    Rs.200

    Add-on card replacement fee

    Rs.200

    Photo credit card fee

    Rs.50 extra

    Eligibility:

    Here is the eligibility criteria for variants of Tamilnad Mercantile Bank Credit Cards.

    Credit Card Type

    Eligibility

    TMB General Credit Card

    • The applicant must have good earning capacity and sufficient cash flow.

    • The customer must be residing in rural or semi-urban area.

    • TMB General Credit Card is offered to only one person in the household.

    TMB India Card Credit Card

    • The applicant must have a sound CIBIL score.

    • The applicant must have a good cash flow and earning capacity.

    To know more about the eligibility criteria and income criteria for the TMB Credit Card of your choice, do enquire with the bank.

    Tamilnad Mercantile Bank Credit Cards Documentation:

    TMB Bank Customers must have the following documents ready to speed up the application process for credit cards.

    • Duly filled and signed application form
    • Recent passport size color photographs
    • Residence proof which can be any of the following - Aadhaar Card, telephone bills, election card and electricity bills.
    • Proof of Income - Bank statements for the last 3 months, IT return statements for the last 3 months and Form 16, whichever documents are applicable. Self-employed professionals will have to submit proof of business existence and proof of business continuity.

    The list of documents required are based on your type of employment and income source. Do enquire with Tamilnad Mercantile Bank to know more about the list of documents for your choice of credit card based on your employment type.

    List of Tamilnad Mercantile Bank Credit Cards:

    Tamilnad Mercantile Bank offers two variants of Credit Cards, each specially crafted to the best of benefits to the cardholder. Read on to more about types of TMB credit cards.

      • Tamilnad Mercantile Bank General Credit Card

        Specially designed for customers looking for the functionalities of a conventional credit card, the TMB General Credit Card offers all that and even more. This special offering from Tamilnad Mercantile Bank is a type of rollover overdraft facility wherein no end use is insisted. Customers can make purchases using the General Credit Card and repay in 12 months’ time from the purchase date. For customers who make repayments before six months’ time and also timely interest payments, incentives of 2% are offered by TMB. As an added advantage, customers do not have to produce any collateral to avail the overdraft.

      • Tamilnad Mercantile Bank India Card Credit Card

        For customers who hate carrying cash on their international trips or tired of having to receive change in cash counters, TMB India Card Credit Card is the best choice. Affiliated to MasterCard, India Card Credit Card will offer you to sheer convenience of making credit purchases. Affordable APR rates and liberal free credit day’s makes this card very popular amongst all TMB customers. Other benefits of holding a Tamilnad Mercantile Bank India Card Credit Card include high credit limit, attractive interest rates, 24/7 assistance for lost cards and international validity.

    TMB Credit Card FAQs:

    1. What is the repayment tenure if I use my TMB General Credit Card to make a purchase?

      The overdraft or the loan must be repaid within the maximum tenure of a year.

    2. Will I incur any penalty for not paying interests within the prescribed time?

      If you use the TMB credit cards to make a purchase and default on interest payments for 3 continuous months, you will be subject to corrective actions including reduction in sanctioned credit limit and recall of facility.

    3. What is the advantage of 3D Secure system and will I get that benefit with Tamilnad Mercantile Bank credit cards?

      3DS or the 3D secure is a payment system that has an extra authentication level for Visa and MasterCard payments that prohibits the unauthorized use of TMB credit cards. For every transaction that you make using the credit card, your bank will have to authenticate the personal security code to make it secure. 3DS is offered for TMB India Card Credit card and you register online for 3D Secure.

    4. How do I avail a TMB India Card with photo?

      You will have to contact TamilNad Mercantile Bank and specify that you need a photo credit card while submitting your application. A nominal fee of Rs.50 will be charged for a photo credit card.

    5. If I misplace or lose my TMB Credit Card, what should I do?

      In case of the unfortunate event of credit card loss or misplacement, you will have to block the card first. You can do so by contacting Tamilnad Mercantile Bank on their 24/7 toll free number. The hotlisting charges for deactivating a card or for a lost/stolen card would be Rs. 200.

      *Note: All the rates are subject to change, therefore, customers are required to keep on checking the rates from time to time.

    News About TamilNad Mercantile Bank Credit Card

    • TMB launches prepaid credit cards to draw the young crowds

      To further simplify the current generation customers experience digital banking, Tamilnad Mercantile Bank limited has launched 'TMB prepaid card' and 'TMB gift card’. TMB prepaid card is a payment tool not unlike your regular credit or debit card with the RuPay platform and comes with a 5 year validity. Customers can recharge the card in multiples of INR 100. This card can be used only in India to withdraw money at ATM and for shopping.

      The TMB gift card is also a prepaid, but a non-reloadable magnetic strip card based on the Rupay platform. One doesn’t need to have a TMB account to get this gift card. With a 3 year validity, it could be utilized in over 875,000 outlets. The event was attended by AVMV. Mani (Chairman of AVM Group) and D. Chandran (Managing Director, Nila Group), J. Michael Motha (Managing Director, Sahayamatha Salterns Pvt Ltd) and H. S. Upendra Kamath (MD and CEO of the bank).

      14th July 2014

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