Canara Bank RuPay Select Credit Card

Canara Bank RuPay Select Credit Card Features

Cashback Offers

The Canara Bank RuPay Select Credit Card provides a cashback program where you have a chance to earn money back when you pay your utility bills or dine at restaurants. You can get 5% cashback on your utility bill payments, whether online or at points of sale, with a maximum of ₹50 per month. Similarly, when you eat out at restaurants, you can also receive 5% cashback, again capped at ₹50 each month.

Airport Lounge Access

The Canara Bank Rupay Select Credit Card offers two complimentary visits to domestic airport lounges every quarter and two visits to international lounges each year.

Reward Rate

Canara Bank RuPay Select Credit Card entitles you to earn 2 Reward Points for every ₹100 spent on this card, including on e-commerce transactions.

Reward Redemption

• You can redeem your collected Reward Points for purchasing goods and services and for cashback.
• To redeem your Reward Points, log in to Canararewardz.
• 1 Reward Point is equivalent to ₹0.25.
• The minimum redeemable Reward Point limit for cashback is capped at 1,000 Reward Points.
• The minimum redeemable Reward Point limit for the purchase of goods and services is capped at 100 Reward Points.
• The validity period for redeeming accumulated Reward Points is 3 years from the date of accrual.

Insurance Benefits

• The Canara Bank covers air accident insurance up to ₹8 lakhs on the Canara Bank RuPay Select Credit Card for the primary cardholder and ₹4 lakhs for the spouse.
• It also covers other air accident insurance up to ₹4 lakhs for the primary cardholder and ₹2 lakhs for the spouse.
• This card provides baggage insurance up to ₹25000 and purchase protection up to ₹25000, too.

Concierge Services

The concierge services offered with the Canara Bank RuPay Select Credit Card provide 24/7 assistance for various needs. They help with reservations and referrals for hotels, dining, car rentals, and international travel, making your planning easier while you enjoy your travel.

Other Benefits

• Canara Bank provides zero liability protection to cardholders of the Canara Bank RuPay Select Credit Card.
• The cardholders will not be held liable for any unauthorized transaction exceeding the transaction limit of ₹1000 post the time of reporting the loss of the card. (However, for transactions made prior to the time of reporting, the liability lies solely with the card member.)
• You get a 1% fuel surcharge waiver on all fuel transactions made using this credit card.

Canara Bank RuPay Select Credit Card Fees and Charges

Some of the important fees and charges associated with the Canara Bank RuPay Select Credit Card are as mentioned below:

• The joining and annual fee for this credit card is zero, i.e., it is a lifetime free credit card. However, an inactivity fee of ₹300 might be charged every year if the total annual spending of a cardholder is less than ₹10,000.
• The interest rate on the Canara RuPay Select Credit Card is 2.5% per month, which is lower than most basic credit cards in India.
• The foreign currency markup fee of this credit card is 3.5% of the total transaction amount.
• The cash advance fee on the Canara Bank RuPay Select Credit Card is 2.5%, subject to a minimum of ₹30 for every ₹1,000.

Canara Bank RuPay Select Credit Card Eligibility Criteria

The eligibility requirements for the Canara RuPay Select Credit Card are not disclosed clearly by the bank, but some of the basic criteria are as follows:

• The applicant should be 21 years old or older.
• The applicant should have a stable source of monthly income (salaried and self-employed people are eligible).
• The applicant should have a decent credit history.

Documents Required

You will also need to submit a few documents while applying for the Canara Bank RuPay Select Credit Card. These documents are listed below:

• Identity Proof: PAN Card, Aadhaar Card, Voter ID, Passport, or Driving Licence.
• Address Proof: Aadhaar Card, Voter ID, Passport, Driving Licence, Rent agreement, Utility bills, Municipal or property tax receipt, House allotment letter issued by central or state government
• Income proof: For salaried employees – salary slip of last two months & bank statement showing salary credits. For self-employed individuals – Later ITR (Income Tax Return).

How To Apply For The Canara Bank RuPay Select Credit Card?

There are two ways to apply for the Canara Bank RuPay Select Credit Card. The first one is to visit your nearest Canara Bank branch with all the required documents and apply for the card by filling out the physical application form. Another way is to download the form from the bank’s official website as follows:

• Visit the Canara Bank’s official website.
• Under the ‘Personal Banking’ section, click on ‘Card Services.’
• Click on Credit Cards.
• Now, you will see the option ‘Application forms.’ Click on that.
• Select the Hindi/English form as per your choice.
• Download the form and take a printout of it.
• Fill in the application form.
• Attach all the required documents and submit them to your nearest branch.

Conclusion

Even though bring a basic credit card, the Canara Bank RuPay Select credit card not only offers a very high reward rate, but the good part is, unlike many other credit cards in the market, this one by Canara Bank allows encashment of the Rewards Points (i.e., the Rewards Points can be adjusted against your card’s outstanding balance). This card can be a good pick for someone who has just started their credit journey and plans to use the credit card primarily for shopping. Punjab National Bank also offers PNB Select Credit Card on the RuPay platform, which is very much comparable to this one.

What are your reviews on RuPay credit by Canara Bank? Do let us know in the comments. And if you’re an existing cardholder, feel free to share your experience.