TMB Current Account – Features, Benefits & Charges

Key Takeaways
 

• The TMB Current Account is available in various formats like Premium, Flexi, Small Business, and FD-linked, offering flexible options for different users.
   
• Most TMB Current Account types offer free NEFT/RTGS, low penalties, and easy access to digital banking services.
   
• A TMB Current Account can be linked with UPI apps, helping small businesses and shopkeepers accept cashless payments easily.
   
• Opening a TMB Current Account requires basic KYC, and FD-linked options allow users without income proof to start banking quickly.

BONUS: TAMILNAD MERCANTILE BANK (TMB) IS FOCUSING ON SALARY ACCOUNTS AND MSME LENDING TO SUPPORT BUSINESS GROWTH, AS THOOTHUKUDI EXPERIENCES A ₹1 TRILLION INVESTMENT SURGE.

A TMB Current Account is a business-friendly bank account from Tamilnad Mercantile Bank, used for frequent daily money transactions.

Ravi owns a photocopy and stationery shop in Madurai. He earns ₹80,000 every month. His regular payments include ₹20,000 for staff salaries, ₹10,000 for shop rent, and ₹15,000 for stationery purchases. Ravi uses his TMB Current Account to deposit cash daily, pay vendors via NEFT, and manage collections through QR codes. 

The account allows him to deposit up to ₹1,00,000 in cash every month without any charges. His balance never drops below ₹10,000, which means he doesn’t pay any penalty. For Ravi, this account makes business banking easy and cost-effective, saving him at least ₹500 a month.

This blog will explain everything about the TMB Current Account, including its types, features, benefits, fees, required documents, comparisons, and more.

TMB Current Account Overview

Tamilnad Mercantile Bank (TMB) is one of India’s oldest private banks, started in 1921. It is known for strong customer service and small business support. TMB has over 500 branches across India, with a growing presence in rural and semi-urban areas.

The TMB Current Account is designed especially for traders, shopkeepers, startups, and professionals who need to manage daily transactions smoothly.

Why Do Current Accounts Matter?

Unlike savings accounts, a current account allows unlimited deposits and withdrawals. It helps businesses make payments, accept money from clients, and track their cash flow easily.

Let’s now see how the TMB Current Account supports professionals and business owners in daily operations:
 

As shown, the TMB Current Account meets the basic needs of small and medium businesses, with services that are easy and useful.

Types of TMB Current Accounts

TMB offers different current account types. Each one fits a different kind of business, from local shops to big firms. Choosing the right type depends on your business size, transaction amount, and daily banking needs.

Let’s look at five popular types of TMB Current Account. Here are the main types of current accounts offered by Tamilnad Mercantile Bank:
 

1. TMB Premium Current Account: Best for big traders and companies. Offers high cash deposit limit and free demand drafts.
    
2. TMB Flexi Current Account: Suitable for professionals like doctors and lawyers. Offers flexible balance rules and internet banking.
    
3. TMB Small Business Account:  Designed for retailers and shopkeepers with fewer transactions. Low balance requirement.
   
    
4. TMB Super Business Account: Suits medium businesses needing extra cheque books and larger RTGS limits.
    
5. FD-Linked Current Account (Simpli Model): For those without income proof. Backed by fixed deposit.

You can select the account as per your needs and requirements. Here’s a table that compares all five TMB Current Account types to help you choose better.
 

This table clearly shows that TMB Current Account options are flexible. You can choose based on how much you deposit, withdraw, or transfer each month.

Key Features of TMB Current Account

Every business needs features that make banking easy. Whether you're paying staff or receiving customer payments, the TMB Current Account helps you do it all from your phone or branch. Here’s what you get when you open a TMB Current Account:
 

• Unlimited Transactions: You can deposit and withdraw many times a day, based on the account type.
   
• Mobile and Net Banking: All accounts come with free access to mobile app and online portal.
   
• Free NEFT/RTGS: Most account types offer free NEFT/RTGS up to a monthly limit.
   
• Cheque Book & Debit Card: You get a personalised cheque book and ATM card for business use.
   
• Overdraft Option: Premium accounts offer overdraft based on profile or fixed deposit.
   

For example, Karan runs a hardware store in Salem. Using his TMB Current Account, he sends ₹3,00,000 to suppliers every month via RTGS. He deposits ₹5,00,000 in cash and withdraws ₹1,00,000 using his debit card. The bank’s mobile app helps him view all these in real time.
 

Let’s compare which features are available in different types of TMB Current Account:
 

These features make the TMB Current Account perfect for both small vendors and large companies, depending on which type you choose.

Benefits of TMB Current Account

The biggest benefit of the TMB Current Account is that it makes daily business banking easier and cheaper. It helps you track cash flow, avoid late payments, and save time. Here are some key benefits users enjoy from using the TMB Current Account:
 

• Monthly Savings on Charges: You save on NEFT/RTGS, cheque leaf charges, and SMS alerts.
   
• Helps with Tax Filing: Statements show exact income and spending, useful during GST or ITR filing.
   
• Supports UPI and QR Collections: Best for shops, food stalls, and delivery businesses.
   
• Instant Business Updates: Get SMS alerts for every transaction.
   
• Simple Balance Rules: Most accounts have low minimum balance needs.
   

Below is a table showing how much a user can save monthly using a TMB Current Account:
 

As seen above, small businesses using TMB Current Account can save over ₹500 every month, that’s ₹6,000 per year.

TMB Current Account Charges & Fees

Even though TMB charges are lower than many other banks, it’s still important to know the cost details. Let’s view the charges side-by-side for three major TMB Current Account options:
 

Knowing these charges helps you choose the right TMB Current Account that suits your business size and monthly transaction load.

TMB Current Account Eligibility & Required Documents

To open a TMB Current Account, you must meet a few simple conditions. Tamilnad Mercantile Bank allows individuals, firms, and companies to apply. Here’s who can open a TMB Current Account and what documents they need:
 

• Eligibility: Indian citizens (above 18), businesses, trusts, partnerships, and companies.
   
• Basic Documents:
   
  • Aadhaar card (identity proof)
     
  • PAN card
     
  • Business registration/GST
     
  • Address proof
     
  • Passport-size photograph
     
• For FD-Linked Accounts: Only Aadhaar, PAN, and FD receipt needed. No income proof required.

Here is a clear table to help you understand the eligibility and document needs for different applicants:
 

Whether you are a business owner or a freelancer, you can easily open a TMB Current Account with basic KYC documents and start banking in 1–2 days.

How to Open a TMB Current Account?

Opening a TMB Current Account is simple and does not take much time. Whether you're a shopkeeper, a freelancer, or a business owner, you can open the account both offline and online. Here is a step-by-step process to open your TMB Current Account smoothly:
 

1. Visit a TMB Branch or Website: Go to the nearest Tamilnad Mercantile Bank branch or visit www.tmb.in.
    
2. Choose Account Type: Decide which TMB Current Account suits your business needs.
    
3. Submit Documents: Carry required KYC and business papers (like PAN, Aadhaar, GST, etc.).
    
4. Complete KYC: Your photo, signature, and ID proofs will be verified.
    
5. Deposit Minimum Balance or Open FD: Based on account type, deposit the required balance or fixed deposit.
    
6. Get Welcome Kit: Once approved, receive cheque book, debit card, and login for net/mobile banking.

Below is a sample timeline to help you know how long each step takes when opening a TMB Current Account:
 

With the above process, opening a TMB Current Account becomes easy even for someone starting their first business or side hustle.

TMB Current Account vs Competitor Banks

Many banks in India offer current accounts. But what makes TMB Current Account different is its focus on small and mid-sized businesses. It also supports people with no income proof through FD-linked options.

Here’s a comparison of TMB Current Account with current accounts from three popular banks:
 

As seen in the table, the TMB Current Account is more flexible for startups, rural traders, and new entrepreneurs, especially those with basic banking needs.

Conclusion

A TMB Current Account is more than just a place to keep money, it’s a smart tool for managing your daily business needs. Whether you are a street vendor, small trader, shop owner, freelancer, or a medium-sized firm, TMB has account types that suit your banking habits.

With low fees, flexible balance requirements, digital tools, and options like FD-linked accounts, the TMB Current Account makes banking easy for everyone. It also helps in saving time and costs by offering free NEFT/RTGS, UPI support, and online services. From opening the account to using it daily, the entire process is smooth and user-friendly.

FAQs
 

1. Can UPI apps like PhonePe or Google Pay be linked with a TMB Current Account?

Yes, a TMB Current Account can be linked with UPI applications such as PhonePe, Google Pay, Paytm, and BHIM. 

2. Is it possible to upgrade a TMB Current Account from Small Business to Premium without closing the existing account?

Yes, a TMB Current Account can be upgraded from one type to another without closing the existing account. 

3. What are the consequences of exceeding the monthly deposit or withdrawal limit in a TMB Current Account?

Exceeding the permitted monthly deposit or withdrawal limit in a TMB Current Account may result in additional charges.

4. Does the TMB Current Account allow automated bulk payments for salaries or vendor transactions?

Yes, the TMB Current Account provides support for automated bulk payments, including salary disbursements and vendor payments.

5. Can multiple TMB Current Accounts be opened by the same individual for different businesses?

Yes, multiple TMB Current Accounts can be opened by the same individual if each account is linked to a separate, legally registered business entity. 

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LoansJagat Team

‘Simplify Finance for Everyone.’ This is the common goal of our team, as we try to explain any topic with relatable examples. From personal to business finance, managing EMIs to becoming debt-free, we do extensive research on each and every parameter, so you don’t have to. Scroll up and have a look at what 15+ years of experience in the BFSI sector looks like.