Canara Bank Credit Card Interest Rate

Canara Bank credit cards are entry-level and advanced that are offered in partnership with VISA International/Mastercard. These cards are widely accepted whic the customer can utilize from anywhere.

Canara Bank provides credit cards with a variety of advantages and features backed with rewards, cashback, lifestyle, entertainment, travel, and so on. Canara Bank credit cards have fees and charges, including an interest rate. Your card's interest rate is added to your transactions and shown on your credit card statement as the 'Total Amount Due.'

Features of the Canara Bank Credit Cards

  • Every purchase of 100 will earn you two reward points, each worth 0.25.
  • A credit limit that is impressive at 30% of your total yearly income.
  • 50% of the credit limit is the maximum cash withdrawal amount.
  • A 20 to 50-day interest-free credit period.
  • No-cost accidental insurance coverage.
  • Complimentary card replacement if yours is lost or damaged.
  • If you pay the bill by the due date, there is no interest charged on cash withdrawals. Interest will be assessed if this is not done, starting on the due date rather than the day the cash was withdrawn.
  • Gratis demand drafts are available from any Canara Bank location to pay card bills.

Credit Card Interest Rate Canara Bank 2024

The table below states the Canara Bank credit card interest rate-

Credit Cards

Canara Bank CC Interest Rates for a Year

Canara Bank Classic Credit Card

30% p.a

Canara Bank Gold Credit Card

30% p.a

Canara MasterCard WORLD

30% p.a

Canara RuPay Platinum Card

30% p.a

Canara Bank Standard Credit Card

30% p.a

Canara Bank Corporate Credit Card

-

Canara RuPay Select Card

30% p.a

Canara Bank Secured Credit Card

30% p.a

Note- Credit card interest rate of Canara Bank can vary with time and bank standards.

How to Apply for a Credit Card from Canara Bank?

You can go online and complete the necessary steps. Go to Canara Bank's official website and navigate to the Application Forms section. When you click on it, a list of forms will appear on the screen. All you have to do now is click on the Credit Card Application Form. 

A PDF page will then appear on the screen. Once it is loaded, print it, fill in the details, and submit the form together with the appropriate documents to the local branch to complete the process. Following successful verification, the bank will confirm the authenticity of the details and approve the application.

Customers who apply for a credit card from the bank can track the status of their application by contacting customer service or visiting the local bank location.

Eligibility to Apply

  • You must be between the ages of 21 and 60.
  • A minimum annual gross income of Rs.1 lakh.
  • A PAN is an abbreviation for Permanent Account Number (PAN).
  • You must have a solid credit score or credit history.
  • You should ideally have a Canara Bank account.
  • A mobile phone connection is required to get SMS alerts.

Required Documents to Apply

The documentation required for obtaining a credit card from Canara Bank is listed below.

  • KYC documents include voter ID, passport, driving license, and so on.
  • PAN Card (Permanent Account Number; Form 60 if PAN is unavailable)
  • Income documentation such as a pay certificate or tax returns (form 16).
  • Statements from the bank.

Top Credit Cards in Canara Bank

Canara Bank VISA Classic Credit Card 

This card is given to you in collaboration with VISA and is designed to fit the modest lifestyle.

Canara Bank RuPay Select Credit Card

The RuPay Select Credit Card is a credit card that is free for life. The card has no application or annual fees.

Canara Bank Corporate Credit Card 

This Corporate Credit Card is intended for business customers. It is issued to entities other than persons, such as public and private corporations, partnership enterprises, and so forth.

Canara Bank Global Gold Credit Card

The Global Gold Credit Card is designed to fulfil the needs of those who live a high-end lifestyle.

Canara Bank RuPay Platinum Credit Card

The RuPay Platinum Credit Card is a credit card that is free for life. The card has no application or annual fees.

Features of the Canara Bank Credit Cards

Here are the major credit card features of the Canara Bank-

Canara Bank VISA Classic Credit Card

This card is best suited for reward points and cashback offers.

Canara Bank RuPay Select Credit Card

Through this card you can earn 2 points for every Rs.100 spent, including e-commerce purchases and several other benefits.

Canara Bank Corporate Credit Card

The Canara Bank Corporate Credit Card users can earn reward points on all purchases made with it. Customers can get two reward points for every Rs. 100 spent on the Canara Corporate Visa Credit Card. One reward point is worth Rs 0.25 in cash.

Canara Bank Global Gold Credit Card

Canara Bank does not charge any annual fees on this card other than a one-time membership fee of Rs. 250. Every year, you can enjoy the Gold card's features and perks for free.

Canara Bank RuPay Platinum Credit Card

You will earn 2 points for every Rs.100 spent, including e-commerce purchases and more than Rs.1,000 from the time you reported it.

When is the Canara Bank Interest Rate Charged?

If you have not paid your complete outstanding amount or have only paid a fraction of your total outstanding amount as the minimum amount due, you will be charged Interest on the credit card.

Canara Bank will not charge you Interest on your credit card if you have paid off your entire outstanding balance.

Canara Bank charges Interest on credit cards not only for failure to pay the complete due amount by the due date but also for other activities and transactions. Here are a few examples-

  • When the minimum due is not paid before the due date, a late fee and extra charges will be applied.
  • You took out cash with your credit card.
  • Canara Bank may impose additional fees or foreign currency charges if you use your credit card abroad.
  • If you have only paid the minimum due amount, a portion of the total outstanding amount will be carried forward to the following billing cycle.

Canara Bank Credit Card Interest-Free Period

Canara Bank offers you an interest-free period of up to 50 days. This also depends and varies based on the date of the transaction, and the interest-free tenure would be applied if you've paid the outstanding amount in full the previous month.

Benefits of the Canara Bank Credit Cards

  • Get two points for every Rs. 100 spent.
  • Insurance coverage for lost baggage is provided at no cost, up to Rs. 25,000.
  • Get complimentary accidental death insurance for yourself and your spouse.
  • All credit cards of Canara Bank have no yearly fees. Only corporate credit card add-on cards have an annual cost of Rs. 400.
  • Receive cash whenever you need it! You could withdraw 50% of your credit limit with your credit card.
  • If you utilize your card to buy petrol or petroleum products worth Rs. 400 or more, you will be exempt from the 2.5% fuel surcharge.
  • Canara Bank issues domestic cards. On request, global cards will be issued.
  • You are not obligated to pay for a good or service that is fraudulent, stolen, duplicated, or damaged.
  • Allow your immediate family members to enjoy the benefits of this credit card. They must be at least 18 years of age.

Other Bank’s Credit Card Interest Rate

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