About Canara Bank Visa Corporate Credit Card
Corporate credit cards make it easier for businesses to manage expenses by providing tools for spending control, tracking, and reporting. Companies can monitor employee purchases, making budgeting and resource allocation more efficient.
Canara Bank’s Visa Corporate Credit Card is designed specifically for businesses, offering features that support financial management and savings. Benefits include fuel surcharge waivers, seasonal offers on travel and other expenses, and insurance coverage to protect against fraud and baggage-related issues. This card equips businesses with essential tools to simplify expense management and enhance financial control.
Other Features and Benefits
Seasonal Offers
The Visa Corporate Credit Card provides seasonal offers to help businesses save on travel and transport expenses. Current offers include:
- Goibibo Offer:
- 12% discount on domestic flight bookings
- 15% discount on hotel bookings
- 9% discount on bus bookings
- 10% discount on outstation cab bookings
Fuel Surcharge Waiver
- Enjoy a 1% fuel surcharge waiver on purchases at fuel stations of at least ₹400.
- To avail, you must have spent a minimum of ₹2,500 on the card during the billing month.
- Maximum reimbursement is capped at ₹100, credited in the following month.
Reward Points
- Earn 2 reward points for every Rs. 100 spent on the Canara Corporate Visa Credit Card.
- Each reward point has a cash value of Rs. 0.25, which can be redeemed against company expenses.
No Annual Fee
- Primary card comes with zero annual fees; only a one-time enrollment fee is applicable.
- Annual fees apply to add-on cards.
Cash Advance
- Primary cardholders can withdraw cash up to 50% of the credit limit or Rs. 5 lakhs, whichever is higher.
- Add-on cardholders can withdraw up to Rs. 25,000 per month.
Add-on Cards
- Primary cardholders can issue add-on cards to authorized personnel within the company.
- Add-on cards share the primary card’s credit limit and carry an annual fee of Rs. 400.
Mediclaim Insurance Policy
- Cardholders can avail lower-cost medical insurance via Canara Bank’s partnership with United India Insurance.
- Options include Family CANARA MEDICLAIM Policy or Individual Cancomfort Policy.
- Provides features like cashless hospitalization.
Fees and Charges
| Type of Fee | Amount |
|---|
| Joining Fee for Primary Card | Rs. 250 |
| Annual Fee for Add-on Card | Rs. 400 |
| Card Inactivity Fee | Nil |
| Free Credit Period | Max. 50 days |
| Interest on Credit | 2.5% per month or 30% per annum |
| Minimum amount due | 5% of the billed amount subject to a minimum of Rs. 100 |
| Mark up in case of Transaction in foreign currency | Max. 3% |
| Duplicate Statement | Rs. 10 for each page |
| Cheque dishonor charges or unsuccessful payment instructions | Rs. 50 |
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Document Required For Canara Bank Visa Corporate Credit Card
- Proof of Identity: PAN Card, Aadhaar Card, Driver’s License, Passport, Voter ID
- Proof of Address: Aadhaar Card, Driver’s License, Passport
- Proof of Income: Latest 3 salary slips, Last 3 months’ bank statement
Eligibility Criteria
- Age: 21 to 70 years
- Occupation: Salaried or Self-employed
- Credit Score: Should have a good credit history
Canara Bank Visa Corporate Credit Card Highlights
What do we like about this card?
- Reward Points: 2 points for every Rs. 100 spent, 1 point = Rs. 0.25.
- No Annual Fee: Primary card has zero annual fees, only add-on cards have Rs. 400 annual fee.
- Cash Advance: Withdraw up to 50% of credit limit or Rs. 5 lakh.
- Add-on Cards: Share credit limit with authorized personnel; annual fee Rs. 400.
Things to Know Before you apply
Get this card if:
- Your business needs a corporate credit card to manage expenses efficiently.
- You want to provide authorized personnel with add-on cards for business-related spending.
- You are looking for reward points on all corporate transactions.
- You want benefits like fuel surcharge waivers and seasonal discounts for business travel.
- You want access to lower-cost medical insurance for cardholders.
Pros
- Earn 2 reward points per Rs. 100 spent, redeemable against company expenses.
- Zero annual fee on the primary card; only one-time enrollment fee.
- Cash advance facility up to 50% of credit limit or Rs. 5 lakhs.
- Add-on card facility for authorized personnel.
- Fuel surcharge waiver and seasonal offers for travel bookings.
- Mediclaim insurance coverage at discounted rates.
Cons
- Annual fees are applicable on add-on cards.
- Reward points have limited redemption options (primarily against expenses).
- Cash advance limits may not be sufficient for very large corporate needs.
- Primarily designed for businesses; not suitable for personal use.
Canara Bank Credit Card Contact Details
- Contact Address: Canara Bank Card Division, No. 29, K R Road, Basavanagudi, Bengaluru – 560004, Karnataka, India
- Helpline (24x7): 1800 103 0011 (Toll-Free) 1800 208 3333 (Alternate Toll-Free) +91 80 2206 2222 (For chargeable/international calls)
- Simply SMS: Send "CANRUPAY" to 56156 from your registered mobile number
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Frequently Asked Questions
You earn 2 reward points for every Rs. 100 spent, with each point worth Re. 0.25. Points can be redeemed through Canara Bank’s dedicated MaxGetMore portal, which offers products in categories like electronics, apparel, DTH recharge, mobile recharge, movie tickets, and more. To redeem, you must first register and activate your reward account.
The interest-free credit period ranges from 20 to 50 days. Note that service charges, fees, and interest apply for cash withdrawals, railway ticket bookings, fuel purchases, and similar transactions.
Yes. A nominal 2% + applicable service tax is charged on the outstanding balance if dues are not paid by the due date.
For customers with revolving credit: 2% of outstanding, minimum Rs. 10, maximum Rs. 150.
For customers without revolving credit: 2% of outstanding, minimum Rs. 20, maximum Rs. 300.
Yes. While the credit card can be used globally, foreign exchange transactions in Bhutan and Nepal are not permitted. Additionally, all overseas remittances are subject to Foreign Exchange Management Act (FEMA), 1999 regulations.
Canara Bank provides Lost Card Protection, where the cardholder’s personal liability is limited to Rs. 1,000 from the time the loss of the Canara Visa Corporate Credit Card is reported.
