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Canara Bank Corporate Credit Card

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Updated: 05-04-2021 15:21:18 PM

Please Note: Canara Bank is not a Paisabazaar partner. Offers would be from partner Banks/NBFCs only.

The Canara Bank Corporate Credit Card is issued to cater to the needs of corporate clients. These cards are specially meant to cover the needs of a business like partnership firms and all firms of the chartered accountants, tax consultants, solicitors, public sector enterprises, private and public companies that have a good reputation in the market.

Features of Canara Bank Corporate Credit Card
Benefits of Canara Bank Corporate Credit Card
Eligibility Criteria for Canara Bank Corporate Credit Card

Features of Canara Bank Corporate Credit Card

Let us take a look at the features of this Canara Bank Corporate Credit Card. They include:

  • Card Is Accepted Internationally: Corporates need to travel far and wide for business purposes. Hence, the ease of carrying out transactions all across the world is imperative. The Canara Bank Corporate Credit Card in association with VISA helps every corporate achieve just that.
  • Enjoy the interest-free period: If any customer manages to pay up the whole of the due amount of the previous month, the maximum period of interest-free credit that would be available to the credit card holder will be 50 days.
  • Revolving Credit: One who holds this particular card can also enjoy the facility of revolving credit, which would allow them to pay up the outstanding balance according to their convenience. The minimum amount that will be due each month will be 5% of the total outstanding amount or ₹ 100, whichever is more.
  • SMS Alerts: The Corporate Credit Cardholders will receive alerts through SMS on their registered mobile numbers whenever a transaction is made on the credit card. This will help to provide additional protection against skimming as well as fraud.

Benefits of Canara Bank Corporate Credit Card

The benefits of Canara Bank Corporate Credit Card are as follows:

  • Cash In Advance: Canara Bank, through this particular Corporate Credit Card, helps to provide a cash withdrawal limit of up to 50% of one’s card limit. The charge for cash withdrawal is only ₹ 30 for every ₹ 1,000.
  • No Annual Fees: Canara Bank does not charge an annual fee on any of their credit cards from the customers. This happens to be quite a benefit from a customer’s point of view, as they need not pay any enrolment fees for the whole span of life from using this card.
  • Add-on Cards: The primary holder of this card can apply for an add-on card for all those individuals within the company so that they can make use of the credit limit offered for meeting up their official requirements. These add-on cards carry an annual fee of ₹ 400.

Eligibility Criteria for Canara Bank Corporate Credit Card

The eligibility criteria for availing this card are as follows:

  • Companies which are customers of Canara Bank and have credit limits along with S1 and S2 status.
  • Companies having no credit limit should have at least 12 months of transaction history with the bank.
  • These Corporate Visa Credit Cards are issued to all member affiliate banks as well.
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