This article provides a concise overview of the prominent features, eligibility prerequisites, and the application procedure for Canara Bank’s RUPAY SELECT INDIVIDUAL CREDIT CARD.
Features of Canara Bank – RUPAY SELECT INDIVIDUAL CREDIT CARD:
Main features:
- Access up to 50 days of interest-free credit.
- Convenient EMI Conversion via Canara Saathi and Canara ai1 app.
- ATM Cash Withdrawal and other non-financial services.
- Exclusive offers at partnered merchants.
- Earn reward points for every PoS/e-commerce transaction.
- Enjoy complimentary insurance benefits.
- Access 24×7 concierge services.
- Lounge access domestically and internationally.
Additional Features:
- Global validity: Available worldwide.
- Credit Card Limit: Ranges from ₹1 lakh to ₹50 lakhs.
- Revolving credit facility: Accessible.
- Repayment through alternate banking channels: Available.
- Cash withdrawal facility: Available with service charges at ₹30 per ₹1000 or part thereof.
- Inactivity fee: ₹300 per annum if card turnover is below ₹1,00,000 per year.
- Insurance cover for personal accidents:
- Air Accident: ₹8.00 lakhs for self, ₹4.00 lakhs for spouse.
- Other than Air Accident: ₹4.00 lakhs for self, ₹2.00 lakhs for spouse.
- Lost Card Liability: Exceeding ₹1000 from the reported time of loss.
- Baggage Insurance and Purchase Protection Cover: Both at ₹25,000.
- Loyalty Rewards: Earn 2 points for every ₹100 spent, each point valued at ₹0.25.
- Maximum Credit Limit per month: ₹50,00,000; Minimum limit: ₹1,00,000.
- Additional features by NPCI.
- Card features – RuPay Select Individual Credit Card:
- Welcome offers: ₹500 Gift Voucher from Croma, Discount Coupon from Apollo Pharmacy, ₹100 off on first two transactions at Snapdeal.
- RuPay Insurance Program: ₹10.00 lakhs cover for Personal Accident and Permanent Disability.
- Cash Back Offer – Utility Bill Payment Services: 5% cashback on utility bill payments, capped at ₹50/month, applicable online and at PoS terminals.
- Cash Back Offer on Eating Places & Restaurants: 5% cashback, capped at ₹50/month.
- Lounge Access Program:
- Domestic: Two free accesses per quarter across 30 lounges in 11 cities in India.
- International: Four free accesses per year, covering 500+ lounges across 300+ cities worldwide.
- Concierge Services: 24×7 assistance, referral, reservation services for hotels, dining, car rental, and international travel.
- Merchant Offers: Discounts/offers at select online and POS merchants provided by NPCI periodically.
Eligibility for Canara Bank – RUPAY SELECT INDIVIDUAL CREDIT CARD:
To discover if you qualify for this exceptional credit card, explore the eligibility criteria designed for both salaried individuals and self-employed professionals below.
For Salaried:
- Individuals need to have an independent income of at least Rs.3.4 lakhs gross per annum.
- Staff members must have a minimum annual gross income of Rs.60,000 and a net take-home salary not less than Rs.4,000 per month.
For Self-employed:
- Individuals need to have an independent income of at least Rs.3.4 lakhs gross per annum.
- Staff members must have a minimum annual gross income of Rs.60,000 and a net take-home salary not less than Rs.4,000 per month.
Fees for Canara Bank – RUPAY SELECT INDIVIDUAL CREDIT CARD:
- Enrollment Fee: None
- Annual Fee: None
- Card Inactivity Fee: Applies if card turnover in the year is below ₹1,00,000 – ₹300 annually.
- Free Credit Period: Minimum 20 days up to a maximum of 50 days.
- Charges on Revolved Amount: Cardholders with the revolving credit facility need to pay only the minimum due amount indicated in the bill; unpaid portions attract service charges.
- Interest Rate for other credit cards: 2.50% per month (Annualized Percentage Rate: 30%).
- Minimum Repayment on Revolving Credit (Minimum Amount Due – MAD): 5% of the total outstanding amount (min. ₹100) + all applicable charges/fees/taxes + EMI + over-limit amount (if any).
- Card Replacement Fee: ₹300 per card (primary/add-on).
- Foreign Currency Transaction Markup: Up to 3% of the transaction amount.
- Duplicate Statement: ₹10 per page.
- Cheque Dishonor Charges: ₹50 for unsuccessful payments.
- EMI Processing Fee: 2% of transaction amount (min. ₹100, max. ₹200).
- EMI Interest Rate: 13% p.a. for EMI periods of 3, 6, and 9 months; 14% p.a. for EMI periods of 12, 18, and 24 months.
- EMI Pre-closure Penal Charges: 2% of outstanding principal.
- Surcharges:
- Railway Tickets (Counter/IRCTC): ₹30 + 2.5% or 1% of transaction amount + taxes.
- Fuel Surcharge: 1% of transaction value (min. ₹10) + taxes.
- Reimbursement: Up to ₹100 in the next billing month if the card was used for a minimum of ₹2500 in purchase transactions during the billing month.
- Minimum purchase for petrol & petroleum products: ₹400 per occasion.
- Cash withdrawal fee at Canara Bank ATMs: 3% of transaction amount (min. ₹30 for every ₹1000 or part thereof).
- Copy of Charge Slip: Domestic – ₹100, International – US $10 or equivalent.
- Original Charge Slip Processed by Our Bank: USD 2.00 (Approximate rupee equivalent is charged).
- Original Charge Slip Procured from Other Bank: USD 6.00 (Approximate rupee equivalent is charged).
- Collection Charges for Outstation Cheques: ₹100 per instrument + other bank charges (if any).
- Charges for notices sent to cardholders with overdue payments: ₹50 per notice.
- Late Payment Charges: ₹250 + GST, in addition to existing service charges (2.5% per month) on carried-over balances.
- All charges listed are exclusive of GST; an extra 18% GST will be charged.
- Additional out-of-pocket expenses for services rendered will be collected in addition to the mentioned fees/charges.
- All fees/charges are subject to change at the bank’s discretion, with notification to customers through various channels. Statements will be generated only for billable transactions in the billing month.
How to apply?
Click here to apply for the Canara Bank’s RUPAY SELECT INDIVIDUAL CREDIT CARD.
Note: The information presented here is sourced from publicly available data. We cannot be held responsible for any inaccuracies in the details. For the most current and accurate information, please visit the official website of the respective bank.