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Credit Card

Canara Bank credit cardsCanara bank offers Credit Cards to various groups of customers in India. All the Canara Bank credit cards are not only uniquely designed to meet the daily lifestyle needs but also offers premium services to make the card holder’s shopping experience a sheer pleasure. The credit cards can be used both domestically and globally, making it a must-have in every customer’s wallet to enjoy world class luxury and comfort.
 

Apart from the state of the art services, the cards also offer coverage against the risk of accident death. The customer is offered domestic credit cards by default whereas Global cards are issued in case specific requests are made. The services offered through Canara Banak Credit Cards are supported by a vast network of Canara Bank branches which is more than 5600 as on date and also feature dedicated round the clock customer care services.Canara Bank is one of the pivotal members of VISA-WORLDWIDE, MASTERCARD as well as NPCI.

The key features of Canara Bank credit card are

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Cards

Joining Fee

Maximum card limit

Service Charges

Complimentary Insurance cover 

VISA classic global credit card

Free

30% of the annual income of the card holder. Max. 3 lakhs

2.5% Per month

Death due to Air crash
Self-
 Rs.4,00,000 lakhs
Spouse-Rs.2,00,000 lakhs

VISA gold credit global card

Free

Up to 50% of the annual income of the card holder. Max. 25 lakhs

2.5% Per month

Death due to Air crash Self --- Rs 8.00 lakhs Spouse–Rs 4.00 lakhs 

MasterCard standard global credit card

Free

30% of the annual income of the card holder. Max. 3 lakhs

2.5% Per month

Death due to Air crash
Self-
 Rs.4,00,000 lakhs
Spouse-Rs.2,00,000 lakhs

MasterCard gold global credit card

Free

Up to 50% of the annual income of the card holder. Max. 25 lakhs

2.5% Per month

Death due to Air crash Self --- Rs 8.00 lakhs Spouse–Rs 4.00 lakhs 

  • The Cards issued by default are for domestic and global usage.The Global cards are issued only on customer request.
  • The card is offered to resident individuals having a minimum Gross income of Rs.100, 000 p.a. only.
  • The spending limit on card at par the income level on customer which is up to 30% of the gross annual income, however this is subject to sole discretion of the Bank.
  • The Cash withdrawal limit of card is offered as maximum up to 50% of the card limit or Rs. 50,000 whichever is higher. The charges for cash withdrawal are Rs.30 per thousand or Rs.30 whichever is higher.
  • The Free Credit period offered on Canara Bank credit card is 20 days to 50 days.
  • Customer may enjoy the Cash withdrawal facility at any Canara Bank ATM or other Bank ATMs.
  • For cash withdrawal No Interest is charged, if the same is paid within the due date.
  • Minimum payment amount per bill is only 5% of the total billed amount with minimum payment of Rs. 100 and customer may carry forward the remaining amount. However due payment which is carried over from previous bill will attract 2.5% p.m. as interest charges.
  • The card comes with free accidental Insurance for self and their spouse against the perils of accidental death.
  • In the event of Lost Card, the protection Liability is limited to Rs.1, 000 only from the time of reporting.
  • Nil charges for card replacement in the event of mutilation or loss of card.
  • Free SMS alerts on the registered mobile number for all transactions to keep a track on spending and the limit balances.
  • Worthwhile Reward points earning in the Canara Bank credit cards.
  • Manifold payment options Credit Card due amount.

The various types of credit card offered by canara bank are

1. VISA Credit Cards

  1. Classic Credit card
  2. Gold Credit Card

2. Master Credit Cards

  1. Standard credit card
  2. Gold credit card
  3. World credit card

3. Corporate Credit Card

1. Visa credit card

  1. Classic Credit card –

This is a basic level credit card offered with standard facilities to meet the moderate life style needs of a customer. The salient features of a Visa Classic credit card are

  • Available to resident individuals with minimum annual income as Rs 1 lacs.
  • The minimum card limit offered is Rs 10,000, however may be proportionately enhanced as per income of customer as maximum 30% of the annual income or Rs 3 lakhs whichever is higher.
  • Zero enrollment charges
  • Free credit period up to 50 days
  • Minimum payment due is 5 % of the net bill amount.
  • Cash advance limit is 50% 0f the net credit limit.
  • Cash withdrawal facilities available at all canara bank ATMs.
  • 2 reward points on every Rs.100 spent. Each reward point carries a value of Rs. 0.25.
  • Free insurance cover against all risk of death due to accident, loss of baggage while travelling and the liability occurred due to loss of card.
  • The sum insured for accidental death in air crash is Rs. 4 lakhs and 2 lakhs for self and spouse respectively.
  • For accidental death due to other reasons, the sum insured is Rs. 2 lakhs and 1 lakh for self and spouse respectively.
  • The billing date is 20th of every month and the payment due date is 10th of next month.
  1. Gold Credit Card
  • This a premium class credit card offered to high end customer who wants to enjoy best in class services and luxurious lifestyle needs.

The key features of Visa Gold Credit card are

  • Enhanced security features with integrated EMV chip and are PIN enabled card to meet the international security standards.
  • One time issuance charges of Rs 250.00 plus service tax.
  • The card is offered to resident individuals with minimum annual income of Rs. 2 lakhs.
  • The default card limit is 50% of the annual income, subject to discretion of the bank.
  • Nil enrollment fees.
  • Free credit period of up to 50 days.
  • Minimum payment due is 5% of the net bill amount.
  • Cash advance limit is 50% of the net credit limit.
  • Cash withdrawal facilities available at all Canara Bank ATMs.
  • 2 reward points on every Rs. 100 spent. Each reward point carries a value of Rs. 0.25.
  • Free insurance cover against all risk of death due to accident, loss of baggage while travelling and the liability occurred due to loss of card.
  • The sum insured for accidental death in air crash is Rs. 8 lakhs and Rs. 4 lakhs for self and spouse respectively.
  • For accidental death due to other reasons, the sum insured is 4 lakhs and 2 lakhs for self and spouse respectively.
  • The billing date is on the 20th of every month and the payment due date is 10th of next month.
  1. Master card Credit Cards
  1. Master Card Standard Credit card –

The Key features of Master Card standard cards are

  • Available to resident individuals with minimum annual income as Rs 1 lacs.
  • The minimum card limit offered is Rs 10,000/-,however may be proportionately enhanced as per income of customer as maximum 30% of the annual income or Rs 3 lakhs whichever is higher.
  • Zero enrollment charges
  • Free credit period up to 50 days
  • Minimum payment due is 5 % of the net bill amount.
  • Cash advance limit is 50% of the net credit limit.
  • Cash withdrawal facilities are available at all Canara Bank ATMs.
  • 2 reward points on every Rs. 100 spent. Each reward point carries a value of Rs. 0.25.
  • Free insurance cover against all risk of death due to accident, loss of baggage while travelling and any liabilities that occurred due to loss of the credit card.
  • The sum insured for accidental death in air crash is Rs. 4 lakhs and Rs. 2 lakhs for self and spouse respectively.
  • For accidental death due to other reasons, the sum insured is Rs. 2 lakhs and Rs. 1 lakhs for self and spouse respectively.
  • The billing date is last calendar date of every month and the payment due date is 20th of next month.
  1. Master card Gold Credit Card
  • This a premium class credit card offered to high end customer who wants to enjoy best in class services and luxurious lifestyle needs.
  • The key features of Visa Gold Credit card are
  • Enhanced security features with integrated EMV chip and are PIN enabled card to meet the international security standard.
  • One time issuance charges of Rs 250.00 plus service tax.
  • The card is offered to resident individuals with minimum annual income of Rs. 2 lacs.
  • The by default card limit is 50% of the annual income, however subject to discretion of the bank.
  • Nil enrollment fees.
  • Free credit period up to 50 days
  • Minimum payment due is 5 % of the net bill amount.
  • Cash advance limit is 50% o0f the net credit limit.
  • Cash withdrawal facilities available at all canara bank ATMs.
  • 2 reward points on every Rs. 100 spend. Each reward point carries a value of Rs. 0.25.
  • Free insurance cover against all risk of death due to accident, loss of baggage while travelling and the liability occurred due to loss of card.
  • The sum insured for accidental death in air crash is Rs. 8 lakhs and 4 lakhs for self and spouse respectively.
  • For accidental death due to other reasons, the sum insured is 4 lakhs and 2 lakhs for self and spouse respectively.
  • The billing date is Last calendar date of every month and the payment due date is 20th of next month.
  1. Master card Global Credit Card
  • A high end credit card issued on specific request with global usage and rich in class experience.
  • The card carries enhanced security features with integrated EMV chip and is PIN enabled to meet international security standards.
  • Option for add-on credit card available on request of existing Canara Bank Credit Card holder for immediate close relatives.
  • Other features are at par with the Gold credit card.

3. Corporate Credit Card

  • The corporate credit card is designed to meet the lifestyle needs of the Non Individual corporate patron such as public sector undertakings, partnership firms, chartered accountant firms, Public or  private companies.
  • Separate card is issued to domestic usage and global usage.
  • The card is issued primarily to corporate who is existing customer to Canara Bank with credit limits sanctioned as S1 and S2 status.
  • For Companies which doesn’t have any relationship with canara bank, the card is issued on the discretion of bank and proven track record.
  • Board Resolution in Bank’s format is mandatory for Pvt. Ltd or Public Ltd. Companies.
  • Apart from BR, company’s formation documents such as MOA/ AOA etc are also required.
  • The limit sanctioned on the card is a consolidated limit which can be duly shared amongst the add-on card holders.
  • The limit per card can be in multiples of 5000, whereas the minimum limit is Rs 50,000/- and maximum Rs 100 lakhs.
  • The billing date is 20th of every month and the payment due date is 10th date of the succeeding month.
  • One single bill is created and it is in the company’s name.

Canara Bank Credit card Payments

Canara back offers a multitude of payment options to its credit card holders. The payment can be done using either of the modes which include:

  • Auto debit mandate in case the card holder has a Canara Bank savings account.
  • NEFT or Electronic Fund Transfer facility wherein the card holder have to use the IFSC code as CNRB0001912 and their 16 digit canara bank credit card number as the Account number
  • The payment can also be made through Cheque or demand draft for the payment dues. The cardholder can get a free Demand Draft issued from any of the Canara Bank branches for the payment of their card dues.
  • Card holder can also clear their credit card dues through cash deposit at any of the Canara Bank branches.
  • Every month the card holder receives his/her credit card’s consolidated statement at their registered address and email id well before the payment due date. Card holders may also be informed by SMS Alert about the payment due and due date for canara credit cards
  • Any Non Payment of the due amount shall attract a charge of 2% + service tax on the outstanding balance plus service tax applicable.

Other Features of Canara Bank credit cards
 

  1. Canara credit card Reward Program

Canara bank put forward a whopping reward point program to its credit card holder on every single spends. The card holder can earn 2 reward points for every transaction value of Rs.100 , wherein each reward point is valued as Re.0.25. A dedicated web portal is available for the card holder to register view & redemption of these reward points as per the offers and scheme available in the redemption catalogue.

Not only this, the cardholder can earn extra Points through 'Max Get More' program.

Canara credit card Reward points can be redeemed against gift voucher of wide range of products in multiple categories such as apparells, consumer durables etc. and for various services such as movie tickets or mobile or DTH recharge etc. The list of participating merchants can be found on Canara Bank's registered web portal. Reward points cannot be redeemed against any other regular credit card transaction such as Cash withdrawals, balance transfer transaction, foreign currency purchase, any disputed or cancelled transactions or fees & charges like card annual fee , interest, etc.
 

  1. Canara Bank Credit Card insurance Scheme

Canara bank Credit Cards offers complementary insurance which covers the accidental death while travelling by Air, due to any other legible, Baggage Insurance cover and Purchase protection cover. The insurance is offered in collaboration with United India Insurance Company. Apart from the accidental life cover, Canara Bank offers unmatched Mediclaim insurance cover at affordable premium costs. The Cardholders can make premium payment using their Canara Bank Credit Card and enjoy interest free credit period for 20-50 days.
 

  1. Canara Credit Card security Features

Canara Bank offers EMV chip based credit card with enhanced security features. Your card protection is active for all purchases on retail outlet and online shopping. Any Payment settlement at Point of Sale (POS) is done only on physically presenting the Canara Bank Credit Card by the cardholder. The cardholders are required to sign on the signature panel provided on the back of the credit card and no transactions shall be authorized unless that signature is present. For transactions done through Internet and any IVR service, a second level of authorization is required by the Cardholder using his password. Canara back provides SMS alert services to its card holder for every transaction done and payment received on the credit card.

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