Canara Bank is widely known for its customer-centric approach. It has tied up with both VISA and MasterCard organizations for Credit Cards, both are known internationally and has its presence in most of the countries across the world. The existing bank account holders will be provided with both the debit and credit cards at the time of opening of the savings account with the Bank. The credit cards provided by the bank can be used for general domestic purposes. The global credit card will be issued after the card-holder expresses request to do so.
Canara Bank is one of the premier commercial banks in India.It has a distinct track record in the service of India for more than glorious 111 years. It is headquartered in Bengaluru.
Currently, it has its presence through 6179 branches and 9743 ATMs catering to all the segments of the society. It has a clientele accounts base of whopping 8.18 crore. Apart from the bank's operations in the domestic country, it has its presence in overseas branches located at London, Shanghai, New York, Leicester, Manama, Hong Kong, Johannesburg, DIFC (Dubai) and a representative office at Sharjah, UAE.
Canara Bank was founded as ‘Canara Bank Hindu Permanent Fund’ in the year 1906 by late Shri Ammembal Subba Rao Pai. It became a limited company as ‘Canara Bank Ltd’ in 1910 and later became Canara Bank in the year 1969 post nationalization.
• SMS Alerts – Free SMS alerts will be provided on all the transactions. One has to provide a mobile phone number for activating this facility.
• Reward Programme – The bank has tie ups with M/s Loyalty Rewardz Programme. It provides rewards points for every purchase transactions of Rs 100 and above. The value of one reward point is Re 0.25. A dedicated website for registration, viewing the accumulated reward points and redemption of the accumulated points is available at www.canararewardz.com. An individual can earn more reward points under ‘Maxgetmore’ programme.
• Zero Lost Card Liability – In case of loss or mutilation of a credit card, the same will be replaced at free of cost without charging anything from the cardholder, for transactions in excess of Rs 2,000 from the time they report the loss of the card to the bank at the following address in writing. The cardholder will be liable for all the charges incurred on the card before they report about the loss of their respective credit card.
• Accident Insurance – Canara Bank provides free accident insurance facilities to the cardholders. It provides accident insurance cover to both the cardholder and spouse against the risk of death. The cardholders are covered against risk of death due to accident and air crash free of cost. Upon accidental death, the cover will be first utilized to offset the balance outstanding on the Canara Credit Card. Any balance of the cover remaining will later be paid to the credit card-holder's nominee.
• Card Protection – Canara Bank provides card protection in case of a loss of credit card, the liability is restricted to Rs 1,000 from the time of reporting the case to the bank.
• Advance Cash – Canara Bank provides advance cash withdrawal limit up to 50% of your card limit (Maximum of Rs 50,000 only). The cash withdrawal charges is only Rs 30 per thousand.
• No Annual Fees – Canara Bank does not charge any kind of annual fee on any of its credit cards from the customers. This is a huge benefit from the customer's point of view as they need not have to pay any kind of enrollment fee for the entire lifespan of usage of credit card.
• Free Credit Period – Canara Bank provides free credit period for 20-50 days for credit cardholders. No interest on cash withdrawal will be levied if the dues are paid within the due date. If the dues are not paid within the due date interest will be charged starting from the due date and not from the date of cash withdrawal. So it is better to pay off dues before the set due date.
• Revolving Payment System – Canara Bank provides revolving payment systems to the credit cardholders. This facility provides an option to pay the bill as per the user's convenience. The minimum due amount is calculated as 5% of the bill amount. The cardholder can pay the minimum due amount of the bill at the time of purchase and the remaining amount can be carried forward along with the interest.
• Liberal Card Limit – Canara Bank provides benevolent credit limit to its customers. It will be based on the gross annual income of the cardholder. The cardholder is eligible to get up to 30% of the gross annual income as the card limit. The fixing of credit limit is at the sole discretion of Canara Bank.
The fastest way to apply for securing a Canara Bank’s Credit Card is to apply through the bank's web portal at https://canarabank.com/.
Visit the nearest Canara Bank’s Branch and apply for CanaraBank’s Credit Card.
An individual has to walk into the nearest Canara Bank branch and meet the customer executive and express the desire to obtain the credit card of the bank. The customer will explain the various credit cards of the bank after ascertaining the annual income of the individual. The customer can choose the card of his/her choice based on the requirements. Following which they will be provided with a Canara Credit Card application form which they have to fill up and submit the same along with the required documents as mentioned in the application form of Canara Bank.
On receipt of the application form from the prospective customer, the bank executives will go through the application form supported by relevant documents and check the authenticity of the submitted documents. Once the bank has completed all the formalities, it may or may not issue a credit card to the prospective customer. It is solely at the discretion of the bank to issue a credit card to the individual.
• An existing customer of the bank can visit the bank’s net banking web site at https://netbanking.canarabank.in/entry/ENULogin.jsp
• Login to the net banking account using the user id and password
• You can directly apply online seeking a credit card
• Fill in the Credit Card Application Form online
• On receiving the request from the customers, the bank executives will give a call to the customer and will ask them to submit the required documents
• Upon the receipt of the required documents and the scrutiny of the same, the bank may or may not issue a credit card to the customer.
It is solely at the discretion of the bank to issue a credit card to an individual.
• An individual should be resident of India.
• An individual should have attained 18 years of age at the time of applying for credit card.
• An individual should have a good credit history.
• An individual should have a good CIBIL score.
• An existing account holder of Canara Bank will be given preference.
• An individual should have satisfactory dealings with Canara Bank with an associated bank’s branch.
• An individual should have a permanent source of income.
• An individual should have a minimum income of Rs 1 lakh per annum.
• Passport size photograph
• A copy of PAN card
• If a customer is an NRI, then Passport is required
• Income Proof – Form 16/ latest Salary slips/ Salary Certificate
• Identity Proof – Bank account Statement / Election Voters ID/ Driving license / Aadhaar Card / Ration Card
• Address Proof – Passport / Driving License / Election Voters ID / Ration Card / Rental Agreement / Bank account Statement
• Better Usage – Domestic and Global Purpose
The Canara Bank’s cards are issued with variants which are permitted for both domestic as well as foreign usage. The cards can be used for the domestic purpose and it is accepted throughout India and the value of the transaction will be in terms of Indian Rupee.
The global credit cards have EMV compliant chip card embedded in the credit card and hence it is valid to use the card both in India as well as abroad. The chip contains vital data in an encrypted format to facilitate authorization. The card manages protection against skimming.
The Canara Bank’s Credit Card for domestic usage is a default card, which will be issued to everyone whoever wants to secure a credit card. In this case, the cardholder does not request for the issuance of the global card. The Canara Bank’s Global Credit Card is issued to the customer only after receiving a specific request from the interested cardholder.
• Revolving Payment Facility – Canara Bank provides revolving payment facility to its customers which is a unique kind of feature in credit card category. You can buy anything now using your credit card and just pay a minimum of 5% of the total bill amount and the balance can be paid later at a specified charge of 2.5% per month (30% per annum). Note: This facility is not available for Canara Bank’s Corporate Credit Card.
• Card Association – Canara Bank’s Credit Cards are issued in association with VISA and MasterCard, both are internationally known card associations. Both VISA and MasterCard facilitate electronic fund transfers throughout the world within a matter of few seconds to minutes for each and every transaction. The association of Canara Bank’s Credit cards with these association provides more acceptability and dependability since both have gained more acceptance all over the world.
One can present the credit card at the time of paying for the purchase or the services, against the bill. The Merchant Establishment will prepare a sales slip based on the number of products purchased or services rendered.
Before paying the bill, always verify the total amount of the bill. There is usually a provision for ‘tips’ miscellaneous items and so on. If required then fill in this section and bring down the total. Sign in the space provided.
You may be given a copy of the bill and asked to sign on the sales slip of any of the VISA/ MasterCard member bank. These formats may differ but the basic contents of these slips will remain the same. The merchandise establishments will return your copy of the bill and the sales slip for your record along with your respective credit card.
The Credit Cardholder can close the card account by writing to the Canara Bank’s Customer Relation Section – addressing to, The Manager, Canara Bank, Card Division, Customer relation Section, Transaction Booking Wing, Naveen Complex, 14, MG Road, Bangalore – 560001
An individual can call the Canara Bank’s customer care executive at toll free number at 1800-425-0018 or 080-25318423 or Board number 080-25584040 or Extension: 080-25584410/ 080-25584423/ 080-25584476.
The cardholder can also send an email to firstname.lastname@example.org and mention the intention to close the credit card.
After informing the executive your intention to close the credit card, the cardholder is required to cut the credit card diagonally.
The closure of the credit card will be effective only after payment of all the dues are made by the cardholder.
Q: What are the types of Credit Cards in Canara bank?
A: Canara Credit Card is designed to meet your lifestyle with anything you might need to make your experience a sheer pleasure. No matter where you are across the world, luxury and comfort are always at hand. List of Canara Bank Credit Card:
1. VISA Classic Credit Card
2. Mastercard Standard Credit Card
3. Global Gold Credit Card
4. Corporate Credit Card
Q: What is the billing cycle on Canara Bank Credit Card?
A: Normally the Canara Bank credit card bill is generated on the following days:
1. For Canara Visa classic and Visa gold credit cards, bill date will generate on 20th of every month and the payment due date is 10th of the succeeding month.
2. For Canara Mastercard standard, Mastercard gold cards and Corporate cards, the bill date will generate on the last working day of the calendar month and payment due date is 20 the of the succeeding month.
Q: What is the maximum interest-free credit period in Canara Bank?
A: You can get up to 50 days interest-free with a Canara Bank credit card. So you have up to 50 days to make payments for your purchases in that billing month. The period will be determined according to the date of your transaction and the billing date. If you clear your bills in full, your interest-free period will continue. If you carry forward a balance, then the interest-free period lapses. Interest will be charged on the revolving amount as well as any subsequent purchases.
Q: How my Canara Bank Credit Card dues are informed?
A: Billing information is made available by email if you have registered your email id with the Bank.
Q: What happens if my card dues are not paid by the due date?
A: You will not be permitted to use your Canara Credit Card until the card dues are paid in full. If the default is constant then your name may be referred to the Credit Rating Agency for inclusion in the negative list, which prevents any credit assistance from any financial institution. Legal Action would be initiated to recover the legitimate dues to the Bank.
Q: What are the benefits of Canara Bank credit cards?
A: Some of the key benefits and features Canara Bank credit cards are listed below:
Q: Whether any charge is payable where card dues are not paid on the due date?
A: Canara bank will collect service of charge of 2% + service tax on the balance outstanding plus applicable service tax is charged to the cardholder where card dues are not paid by the payment due date.
Q: What is skimming?
A: Skimming of a card means stealing the information embedded in the card. After stealing the information, a duplicate card would be produced by the fraudster and would be used without the knowledge of the cardholder. Hence it is advised that the cardholder should register their mobile number so that SMS alerts would inform to a registered mobile number of the transactions on his card number. If the cardholder finds any transaction unauthorized, he should contact the Bank on 1800 425 0018 and request for hotlisting the card immediately so that no further transaction can take place on the cloned/skimmed card.
Q: What are the features of Visa Classic Credit Card in Canara bank?
A: The Visa Classic Credit Card is a basic level credit card offered with standard facilities to meet the needs and wants of the customer. The salient features of a Visa Classic credit card are:
Q: What is the minimum due payment on a Canara Bank credit card?
A: The minimum due amount is calculated as 5% of the total billed amount which you are spent from your credit limit. Canara Bank charges a minimum of Rs. 100 as the minimum due on any credit card bill. This must be paid by the due date to avoid penalties and other corrective action.